Tabung Usahawan Siswazah @ Graduate Entrepreneurs Scheme

I’ve attented a course months back organized by INSKEN (Institut Keusahawanan Negara) under the Skim Usahawan Siswazah to be eligible to ask for loan under tabung usahawan siswazah or called graduate entrepreneurs scheme.

So what is Tabung Usahawan Siswazah?

It’s a loan for graduates venturing into entrepreneurship be it startups or company expansion.

Who administer the fund?

It’s being administered by SME Bank. If you would like to know more about this fund, call them up at 1-300-88-3131 or visit their website: SME Bank.

What is the eligibility of applying for Tabung Usahawan Siswazah?

• Have finished the Skim Usahawan Siswazah seminar or Kursus Asas Keusahawanan Siswa or other approved seminars equivalent.

How do I apply for the seminar to be eligible for TUS?

• Previously I just applied online under the Ministry’s website. But since the ministry is disbanded, try and keep yourself updated through INSKEN website at : http://www.insken.gov.my or call them at : +603-8880 5711

What is the loan amount and interest rate?

The loan amount is from RM20,000 to RM250,000 and the interest rate of 4% (without BLR ok!)

Do I need a collateral or guarantor?

For below RM50,000 it works like micro loan where you need a guarantor with a specified income while for RM50,001 above, you need to have at a percentage of collateral and guarantor.

What are the allowable expenses for the fund?

• Fixed assets and working capital
• Maximum payback period of up to 10 years with grace period of 2 years (grace period depends upon their discretion)

What are the indsutry allowed for the funds?

All industries as long as it’s profitable and approved by the panel during your business presentation.

What is the application process? (based on my experience with my friend)

• Send your business plan for review to INSKEN
• INSKEN submit your plan to SME Bank
• SME Bank call you up for an interview
• Results would be notified after interview

Note: During the seminar I was notified that application process is around 2 months. They have a tight ISO therefore they should complete your application on time.

Please take note that I was notified by SME Bank that all applications for the fund is on hold but the funds are there for us, graduates. It’s being put on hold because the Ministry of Entrepreneur and Co-operative Development is no more and they are now under the directions of MITI (Ministry of International Trade and Industry). I hope Tok Pa and Dato’ Mukhriz speed up the process as lots of us graduates are anxious to apply for the fund:)

Tips: My friend is a wedding planner (sole proprietorship) and she applied for the fund. Given her experience in doing business and a good business plan, she managed to secure the funds and had a good interview. T0 increase your odds of getting the fund:

1. Start your business in micro terms: kecil-kecilan. Ask for micro loan 1st to get experience on your business first.
2. Gain working experience in the industry. Say you wanna open up an IT business, work with a company which is similar to your business idea and apply from there.
3. Get a strong and experienced management team. Recruit experienced people into your team to do the business. This would lower the risk of the bank and hence easier for you to secure funding.
4. Do your homework. Don’t ask silly questions, always research throughly about the fund before applying.

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PUNB Prosper Scheme : Siswazah

I love this post the most! I am a graduate as well therefore opportunities given to graduates to start up their own business are lots! I’ll post on Graduate Entrepreneurs Fund by SME Bank in the next few days.

What is SKIM Prosper Siswazah?

It’s for graduates who aspires to be trained as an entrepreneur and to startup their own business. Focus is mainly on retailing (peruncitan) but I was informed during Skim Usahawan Siswazah that it is open to any type of business approved at the discretion of PUNB.

What is punb?

Permodalan Usahawan Nasional Berhad. You can go to their website at : http://www.punb.com.my

Who is eligible?

For individuals:

• Bumiputera graduates with at least a diploma
• Aged not more than 33
• Cost of investment is RM500

For companies:

• 100% bumiputera owned
• New startups or company expansion

What is the interest rate?

It is charged at 3% (during the time i was informed). Without BLR. That means 3% flat with a negotiated grace period. Grace period is the time where you don’t have to pay the loan. For example, you have to pay back in 5 years, the 1st year no need pay and the rest must pay.

What is the financing method:

Package A

• Loan amount of Rm5,000 – RM50,000 for sole proprietorship & sdn bhd (1 person or company)
• Payback period is 3-7 years

Package B

• Loan amount of RM50,001 – RM100,000 for partnership & sdn bhd (2 person or company)
• Payback period is 5-7 years

For both packages you get advisory services which includes, per operation, accounts management and training during the financing period.

What is the process?

It’s just like SKIM Prosper Peruncitan I posted earlier:

• Register and pass the competency test,
• Go for Kursus Rancangan Perniagaan Prosper Siswazah for 3 days,
• Present your RP, Rancangan Perniagaan or Business Plan as you call it
• Approval
• Go for Kursus Asas Keusahawanan Siswazah for 4 days

If you are interested, You can get the form by registering online at PUNB E-Borang or contact the secretariat at:

Sekretariat PROSPER
PERBADANAN USAHAWAN NASIONAL BERHAD
Tingkat 10, Blok 1B
Plaza Sentral
Jalan Stesen Sentral 5
Kuala Lumpur Sentral
50470 Kuala Lumpur

Alternatively, you can email prosper_siswazah@punb.com.my or call +603 2785 1515

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List of Micro Loans / Microfinance / Pembiayaan Mikro in Malaysia

Whatever the terms maybe in Malaysia, micro loan has one sole purpose which is to provide financing for those that do not possess collateral or guarantor. My first encounter and research on micro loan was during my Islamic finance class. I came to know about Grameen Bank and its activities which provided such services and its contribution so significant, the founder Muhammad Yunus received the Nobel Prize!

So what is micro loan for?

I’ve posted a post related to micro loan but here I will be more specific. Micro loan has the following features:

• Short disbursement time than other loan application
• Loan amount is usually less than RM50,000
• No guarantor needed or guarantor with minimum income of RM1,000 below (penjamin)
• No collateral needed (tiada cagaran ke atas aset persendirian, tanah ke ape, etc)

If you need information on previous posts about micro loan, you can click the links below:

• Skim Tabung Ekonomi Belia

So what are the available micro loan from Malaysian private banks? You can click the link below to go to their site for more clarification but the above characteristics still apply.
(P/S: for complete comparison table and contact number, you can download here from SMEINFO: Comparative Table on Pembiayaan Mikro)

• Modal Usahawan Tani – Agrobank (For expansion of agriculture projects)
• AmMikro – AmBank (For entrepreneurs)
• CIMB Express Cash Financing-i (for self employed and entrepreneurs)

What you need to keep in mind when applying for micro loans?

• Micro loans are not for the purchase of fixed assets! Usually it’s in the form of working capital or capital expenditure. Don’t expect to buy machinery with this loan.
• Be ready with your previous audited financial statement or your bank statement accounts (3 months)
• Be sure to check the micro loan is for business expansion or startup. If startup, try Skim Tabung Ekonomi Belia as above.
• Of course, you have to be Malaysian and usually 21 years old above.

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PUNB PROSPER Scheme: Retailing / Peruncitan

“Skim PROSPER Runcit” is administered by Permodalan Usahawan Nasional Berhad and is focused mainly on retailing or peruncitan. Please take note that this is a business loan similar to any other loans offered by any bank. I came across this scheme during a briefing by one of the PUNB officers during my “Skim Usahawan Siswazah” seminar organized by the-late Kementerian Pembangunan Usahawan (i’ll write the loan offered by SME Bank later + two other loans offered by PUNB)

The eligibility for Skim PROSPER Runcit are (individual):

• Bumiputera and aged 18 above
• Able to contribute at least 10% of the required loan amount

For companies:

• Involved in retailing / peruncitan
• Company wholly owned (100%) by bumiputera
• Companies with active growth with current loan less than RM1 million
• Company’s fixed asset is not pledged to any financial institution

There are 2 packages which are:

Package A (RM70,000 – RM200,000)

The loan is based on Qard-Al Hasan and with an interest rate of 3% (during Feb ’09 as informed by the officer). You have to pay just like any loan, monthly.You have to contribute 10% of the required loan amount and 90% will be given by PUNB. For example you need RM100,000, you will have to contribute RM10,000 and PUNB will contribute RM90,000.

You will also get services such as “pra operasi perniagaan, pemantauan akaun & khidmat nasihat perniagaan)

Package B (RM200,001 – RM1,000,000)

The loan is based on mixed instruments which are Musyarakah (equity financing), Bai Al Inah, Bai Bithanam Ajil or other instruments which means you can use the loan for fixed assets (bangunan, kedai, etc) purchasing. The interest rate is 3%. You can contribute in 2 ways which are: 10% from you, 10% PUNB equity, 80% loan by PUNB. Another way is 20% from you and 80% from PUNB.

You will also get services such as “pra operasi perniagaan, pemantauan akaun & khidmat nasihat perniagaan)

The eligible businesses allowed for this funding is as below:

• Kedai emas
• Pengusaha stesen minyak
• Bengkel baik pulih kenderaan
• Klinik pakar/ perubatan/ gigi/ haiwan
• Kedai tekstil & pakaian
• Kedai cermin mata/ optik
• Firma arkitek/ akauntan/ guaman dan lain-lain firma professional yang diiktiraf oleh kerajaan
• Kedai logam & bahan binaan
• Farmasi
• Penjualan makanan
• Kedai kasut/ barangan kulit
• Kedai kosmetik & kecantikan
• Kedai aksesori wanita
• Kedai peralatan komputer/ telekomunikasi & IT
• Kedai buku & alatulis
• Kedai herba dan ubatan tradisional
• Peralatan sukan dan rekreasi
• Kedai elektrik & elektronik
• Kedai runcit/ pasar mini
• Lain-lain perniagaan yang bersesuaian

The application process is fairly easy, first you need to go and “sesi kesesuaian keusahawan” in which it will determine your competency test in entrepreneurship. If you pass, you submit your business plan and the PROSPER secretariat will review it and after approval, you pitch it to the committee via a presentation. Finally, if everything goes well, the funds will be disbursed.

You can get the form by registering online at PUNB E-Borang or contact the secretariat at:

Sekretariat PROSPER
PERBADANAN USAHAWAN NASIONAL BERHAD
Tingkat 10, Blok 1B
Plaza Sentral
Jalan Stesen Sentral 5
Kuala Lumpur Sentral
50470 Kuala Lumpur

Alternatively, you can email prosper_runcit@punb.com.my or call +603 2785 1515

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Pre-Seed Funding : Cradle Investment Programme

Pre seed funding! What is that? Basically it’s for people who have idea but have no product whatsoever nor any business plan in hand. This funding is for the pre seed stage where you will develop your product prototype and commercialize it. Therefore take note that this funding is primarily to : develop your idea into a prototype product.

Once you have a prototype, it would be much easier to get financing to grow your business. Think of it like this; you go to a bank and ask for loan, you have a working prototype, it would be easier to convince your panel to get the loan!

This is a conditional grant. That means you don’t have to pay back except if you do not meet the conditions agreed between you and CIP, you would be liable to pay back. (example: failure to implement the agreed milestones)

The maximum amount is RM150,000. However, it is delivered in tranches (sections) which means for tranche 1 the maximum amount is RM50,000. If you qualify you can apply for tranche 2 and 3 which is worth RM50,000 each.

For Cradle Investment Programme or called CIP focuses on many areas for pre-seed funding. If your business idea is related to the industry below, you are on track for the funding:

• Software and information services
• Internet: e-content, e-commerce & e-content
• Communication and networking: mobile data
• High-tech consumer and business products
• Electronic and semi conductors
• Medical devices and advanced materials
• Biotechnology and life sciences
• Environmental resources management and renewable energy
• Technology innovation created for any industry

Eligibility criteria is as below:

• Malaysians and aged 18 above
• Minimum 2 applicants to maximum 5 applicants

What are the allowable expenses (these are the only expenses allowed, no such thing where you get RM50,000 in cash, the funds are utilized only for the allowable expenses):

• Development of prototype
• Business Plan
• Purchase of market feasibility research
• IP search and registration
• Survey on statistical data
• Product sampling expenses

The product I mentioned above was CIP but there is also another product called U-CIP which focuses on research products created by university researchers to transform it into a prototype.

For more information, go to

• http://www.cradle.com.my
• call +603 2166 4730
  
• mail: enquiries@cradle.com.my
  

Download the documents below to know more about the programme:

• Application Form Guide
• Allowable Expenses
• CIP Catalyst Process & Timeline

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SMIDEC : Advertisement & Promotion Grant for the Services Sector

Alright, basically this grant is called “Financial Assistance Scheme for SMEs in Service Sectors”. It is for Services Sector ONLY. There are 4 main type of grants you can apply which are:

1. Business Start-Up
2. Certification and Quality Management System
3. Product and Process Improvement
4. Advertising and Promotion

This article focuses on the advertisement and promotion grant in which companies which need to expand their marketing programme to increase their sales.

Again, this is a matching grant where it is 50% – 50%, you pay 50% and the government pay another 50% of the total amount on the allowable expenses ONLY.

The maximum allocation for this grant is RM50,000.

Eligible companies:

• Companies registered under Companies Act 1975
• Possess valid business license
• 60% equity held by Malaysians

Eligible expenses are:

• Production of marketing materials (CD-ROM, brochures, flyers, banners, etc)
• Electronic media advertisement (internet, etc)
• Printed media advertisement (newspaper, magazines, etc)
• Development of website

Documents required for this form:

1. COMPLETE the Form and Project Proposal (Click to download Form and click for Project Proposal)
2. Memorandum of Association & Articles of Association
3. Form 9, 24,49 (get it from your Company Secretary)
4. Audited Company Accounts (get it from your auditor)
5. Business License (your related license in your business sector, example: audit firm, bring license by MIA)
6. 3 months EPF statement (the form you submit to KWSP every month)
7. Company organizational structure
8. 3 months bank statement
9. Project leader biodata (refer to the project proposal for the details needed)
10. Quotation for advertisement and promotion expenses you require (better get at least 3 quotation if possible)
11. Samples for your advertising and promotion material

For non-Sdn Bhd companies;

1. Company Certificate (Your company registration)
2. Business License
3. Company organization structure
4. 3 months bank statement
5. Items 9-11 as above

If you are a growing SME in the services sector and you need help on promotion your product and have all the related materials above, give it a try! Good luck!

Should you require assistance, contact SMIDEC at SMIDEC Full List of Directory or through their hotline at 1-300-88-1801.

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