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SMEs are one of the most important economic components in national development. In Malaysia in particular, SMEs have made significant contributions, even though the size of the business seems small. According to the Malaysian economic data, 98.5% of all business establishments in Malaysia are SMEs. SMEs contributed RM521.7 billion of the nation’s gross domestic product (GDP) in 2018. Based on the recent data, SMEs provides 5.7 million jobs to the 70% of Malaysia’s workforce. Due to the importance, the government provides various initiatives in the form of grants and government business loan Malaysia to facilitate the development of SMEs
If you are one of the SMEs that’s looking for a government business loan in Malaysia , here are the lists of the agencies that you could look into!
1. Tekun Nasional
TEKUN Nasional or formerly known as Yayasan TEKUN Nasional is an agency under the Ministry of Entrepreneur Development and Cooperatives that provides easy and quick financing facilities to bumiputeras to start and further develop their business.
There are several business financing schemes provided by TEKUN. The financing aides provided starts from RM10,000 up to RM100,000 for a period of 5-10 years.
2. Perbadanan Usahawan Nasional Berhad (PUNB)
PUNB is established for the development of Bumiputera entrepreneurs in Malaysia. The main focus of its establishment is to develop Bumiputera entrepreneurs in strategic and high potential business in line with the National Development Policy to create a dynamic, resilient and progressive business. There are several type of government businesses loan Malaysia, that is provided under PUNB
TERAJU is a strategic unit in the Prime Minister's Department aimed at leading, driving, and coordinating Bumiputera participation in the national economy in line with the National Transformation Plan. Through the Bumiputera Entrepreneur Start-up Scheme (SUPERB), TERAJU provides a grant of up to RM500,000 to support innovative and creative business ideas. It is financing to help start-up companies with a fund of RM100 million.
4. Majlis Amanah Rakyat
Majlis Amanah Rakyat or MARA provides different types of government business loan Malaysia up to RM5 million. MARA provides several schemes according to the suitability of a business. The business financing scheme provided includes:
- Skim Pembiayaan Kontrak Ekspres (SPiKE)
- Skim Pembiayaan Peningkatan Perniagaan (SPiM)
- Kemudahan Pembiayaan Perniagaan Kepada OKU
- Skim Pembiayaan Perniagaan Lepasan IPMa (SEMAi)
- Skim Jaminan Usahawan MARA (SJUM)
- MARA Entrepreneur Guarantee Scheme (MEGS)
- Skim Pembiayaan Usahawan Global MARA EXIM (GEMS)
5. SME Corp. Malaysia
SME Corp. Malaysia provides government business loan Malaysia, under the Business Accelerator Programme (BAP) as one of the assistance schemes to enhance the capacity of SMEs. BAP provides financial assistance in the form of equivalent grants and soft loan schemes to help SMEs seize new business growth opportunities. SME Corp. Malaysia is working with SME Bank and Bank Rakyat to provide soft loans offered under BAP.