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Bank Rakyat Micro Financing-i (ME2)

Shariah-compliant micro and small business financing for Bumiputera entrepreneurs in Malaysia, with flexible repayment and no collateral required.

Bank Rakyat Micro Financing-i (ME2)

The Micro Connector Programme is an initiative under the Program Pembangunan Perniagaan Usahawan Mikro (BizME) designed to enhance the efficiency and productivity of micro enterprises. This programme is implemented through Delivery Partner appointed by SME Corp. Malaysia comprising companies that offer competitive skills packages and technical support through training in selected focus areas.

Objective

Offering financing to entrepreneurs and small businessmen that offers micro enterprise in the form of:

Working Capital

finance the purchase / service or stock payment that is related directly with the product / services that is being carried out.

Capital expenses

financing fixed assets purchase

Rural Economic Financing-i Scheme (SPED)

Product Features

  • Maximum Total Financing up to RM50,000
  • Financing period minimum is 3 months and maximum is 5 years
  • Financing Margin is maximum 90% from the working capital and / or capital expenses
  • Guarantor is not needed except for Private Limited Company.
  • Profit rate is 5% per annum on top of flat rate
  • No processing fee.
  • No collateral needed
  • Duty Stamp fee need to be paid by the customers and will be deducted from the approved total financing amount. For Private Limited Company customers, stamping matter will be managed by the lawyers.
  • Overlap financing is not allowed

Application's Requirements

  • Malaysian
  • Not less than18 years old during the application and not exceeding 65 years old when the financing tenure expires
  • Open to entrepreneur or small businessmen that runs micro enterprise directly and full time
  • Have a license / permit / valid business registration issued by the authorities.
  • Type of business allowed are:
  • Sole proprietor
  • Private
  • Private Limited Company
  • Sectors that are qualifies to apply are as follows:
  • Manufacturing and manufacturing related services
  • Services (except for insurance and financial services)
  • Agriculture (Basic Agricultural Product)
  • Business activities carried out are in line with the Shariah concept.
  • Business has been running for more than 6 months and is living in the business area.
  • Gained support from SME Corp to apply financing from Bank Rakyat.
  • Has a Bank Rakyat Savings-i account.
  • Has a clean credit record and not blacklisted
Malaysia Ministry Of Finance (MOF) Registered Company : 357-0002343269
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