Financing for entrepreneurs
RM10 million limit
BizJamin Scheme or Enhancer is to assist entrepreneurs who have viable projects but lack of collateral to obtain the required financing amount from Financing Institutions.chat chat
The annual lending rate is up to 2% above the Base Lending Rate (BLR) of the lending institutions.
* Lending institutions are free to quote the lending rate if the guarantee cover is 50% or less.
- Unsecured Portion - 2.40% to 4.00% per annum
- Secured Portion - 2.10% to 3.20% per annum
SME with higher risk profiles will be charged higher guarantee fees, whereas SMEs with lower risk profiles will be charged lower guarantee fees. The range observed is to match borrower's credibility in terms of risk rating with the pricing of the guarantee.
i) Payment of Guarantee Fee
New Letter of Guarantee (LG) – Payable upon request for LG by Financial Institution (FI) but subject always to full payment of the Guarantee Fee & GST.
Anniversary LG - Payable on or before LG anniversary date, together with the annual Guarantee Fee & GST.
ii) Refund of Guarantee Fee
Refund of guarantee fee and GST will be pro-rated on monthly basis and applicable for LG cancelled or amended by CGC based on the unutilized period of the LG.
The utilized period is calculated from the month of LG/anniversary LG until the month of receipt of cancellation/ approval of amendment by CGC.
Maximum financing limit of RM10Million
The CGC guarantee coverage ranges from between 30% to 90% subject to the following:
- Unsecured Portion - Up to 80% (a maximum cover of RM3 Million)
- Secured Portion - Up to 90% (no capping imposed on secured portion)
- Term Loan
- Letter of Credit
- Trust Receipt
- Export Credit Refinancing (ECR)
- Bills Purchased
- Bankers Acceptance
- Shipping / Performance / Bank Guarantee
- Hire Purchase
- Malaysian-controlled or Malaysian-owned businesses.
- Must fall within the definition of SMEs
- Borrower must have a good credit record
- Franchise businesses can apply under this scheme
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