| 1 |
Objective
of Scheme |
- To enable viable small entrepreneurs
and Bumiputera small entrepreneurs gain easier access
to institutional fancing of between RM10,000 AND RM50,000.
|
| 2 |
Eligible Participants
|
- Malaysian-owned companies registered
under the Companies Act 1965, the Co-operative Societies
Act 1993 and entrepreneurs registered with the Registrar
of Business or any other authoritative body.
- Borrower can have only one
loan under one CGC guarantee at any one time. No Multiple
guarantee is allowed.
- Borrower should not have any
adverse record in respect of borrowings from any government
agency or Financial Institutions.
|
| 3 |
Purpose of Loan |
- For business use only i.e. working capital and asset
acquisition.
|
| 4 |
Type of Facility |
- The types of credit facilities
eligible for guarantee are:
(i) Term Loans
(ii) Overdrafts
|
| 5 |
Loan Limit
|
- Minimum loan is RM10,000 per
borrower
- Maximum loan is RM50,000 per borrower
|
| 6 |
Limit of Guarantee Cover |
- The guarantee cover shall be 80% of the facility/Bumiputera
- 100% Guarantee
|
| 7 |
Tenure of Guarantee
Cover |
- Maximum of five (5) years
|
| 8 |
Guarantee Fee |
- 1.25% p.a based on the guarntee cover and is payable
annually in advance
|
| 9 |
Interest Rate |
- 1.5% above Base Lending Rate
|
