Skim Tabung Ekonomi Belia or STEB is administered by Majlis Penggalakan Ekonomi Belia, Kementerian Belia dan Sukan. The main link for STEB is here : http://www.mpeb.gov.my/PortalTEB/skim.php
Please take note that this fund is for youth aged 18-40 years old. Don’t worry, there are more funds out there for everyone, I’ll update regularly.
STEB is a micro loan (pinjaman mikro) which means that the loan amount is from RM5,000 – RM50,000. Therefore this loan is perfect for small startups in the youth category. You can be in many kind of business sectors especially services or agriculture. Contact MPEB for more information.
Some of the notable eligibility criteria:
- Must be sole proprietorship or partnership companies ONLY
- Applied by an individual and must be full time in business (if you are just starting up, you need to go for the courses and then you will be eligible, I’ll eloborate further. Read on)
Where hold these funds? (the fund is administered by the financial institution appointed by MPEB)
- Bank Rakyat (Skim Belia Niaga)
- Agro Bank (Skim Belia Tani)
Some note here, if you choose to apply for loan RM15,000 below, you do not need guarantor but for RM15,001 to RM50,000, you need one guarantor with at least RM800 income per month.
As always, the best part is the interest rate: 4% per annum. Bank would charge BLR + 1.5% (depends) in which the BLR currently is 5.55%. So it can get from as low as 5.55% to 8%.
What is the application process?
- Get the form from Jabatan Belia dan Sukan Negeri (http://www.kbs.gov.my)
- 5 copies of business proposal to Jabatan Belia dan Sukan Daerah before submission to the appointed financial institution.
- Once approved you have to go for competency test (as of May 2008, no need)
- You will have to attend Kursus Asas Perniagaan & Bimbingan Rancangan Perniagaan (if you are already in business, it depends on MPEB whether you have to attend or not. do give them a call)
I can’t find the downloadable form online so I guess you have to contact @ call your nearest Jabatan Belia dan Sukan Negeri, but can call on them through their complete directory here: