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New Entrepreneurs Fund 2

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Objective
To promote the growth of small and medium-sized Bumiputera enterprises by ensuring that they have access to financing at reasonable cost.

Maximum financing rate : 4% to 6% per annum

Maximum tenure : 5 years

Maximum financing : RM5 million

Participating financial institutions / Implementing Ministry / Agency

  • All commercial banks and Islamic banks
  • Bank Perusahaan Kecil dan Sederhana Malaysia Berhad (SME Bank)
  • Malaysian Industrial Development Finance Berhad

Eligibility criteria

  • Business enterprise based on the definition of SMEs [Link]
  • Maximum shareholders' funds not exceeding RM2 million;
  • Shareholding by Public Listed Companies or Government-Link Companies (if any) should not exceed 20%;
  • Wholly-owned Bumiputera institutions incorporated under the Companies Act 1965, the Co-operative Societies Act 1993, the Societies Act 1966, Bumiputera residing in Malaysia and Bumiputera entrepreneurs registered under the Companies Commission of Malaysia or any other authoritative bodies; and
  • Not more than 7 years in operation. However participating financial institution may consider cases of SMEs who have been in operation for more than seven years.

Purpose of financing

  • Expansion in productive capacity
  • Working capital; or
  • Both of the above

Financing should not be used for:

  • Purchase of shares
  • Refinancing of existing credit facilities
  • Purchase of land/Real estate investment
  • Properties development
  • Investment holding company
  • Activities where stock in trade is money (including credit, leasing, factoring and insurance businesses); and
  • Non-economic or non-healthy activities.

Eligible sector / Types of financing
All economic sectors / All types of facilities

Application procedure

Applications should be made through any participating financial institutions. Approvals will be subject to the normal credit approval procedures and security requirements of the individual participating financial institutions.

Contact
Development Finance and Enterprise Department
Bank Negara Malaysia
Jalan Dato' Onn
50480 Kuala Lumpur
Tel: 03-26913764
Website: www.bnm.gov.my

 
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