Sixth Interview at MARA, Bintulu..

D-3

Date: 26 February 2015 (Thursday)

Time: 9.00 am

Place: Majlis Amanah Rakyat (MARA), Bintulu

BIODATA OF INTERVIEWEE

Mr. Nor Haidir Bin Razali
MARA Officer

INFORMATION ABOUT FINANCIAL PART

Based on our interview with MARA, a government agency that provides loans to new entrepreneurs to venture into business or who want to establish their business. There are some loan scheme that provided by MARA. Below are the types of loan schemes established by MARA and the terms and conditions to applicant who wish to apply for the loan;

Factoring Financing Scheme(SPF)

SPF is open to contractors in the following areas:

• Building contractor Class F, E, D, and C
• Contractor Supplies
• Contractor Services

Terms and Conditions;

• Bumiputera class-citizen aged 18 years and above
• Have experienced or knowledgeable in the field of the underlying business
• Full-timed and registered with the PKK, CIDB and The Ministry of Finance.

Financing limits is RM 500,000.00, have no collateral and rate of profit is 6% a year.

Business Improvement Financing Scheme (SPIM)

This loan facility are the purchase of fixed assets (machinery / equipment), renovation of business premises, and working capital. Terms and conditions;

• Bumiputera class-citizen aged 18 years and above
• Experience / knowledge in the field of the underlying business
• Have a license / permit / approval letter from the authorities to conduct such business
• Can contribute their own capital not less than 10% of the project cost
• Entrepreneurs should be involved full-time in the business

Financing Limits for Sole Proprietorship/Partnership is RM 250,000.00 and Private Limited Company is RM 500,000.00. The guarantee is fixed monthly income of not less than 3% of total funding request or security of land. The rate of profit for this scheme is 4% per year.

MARA Express Contract Financing Scheme(SPIKE)

SPIKE open to contractors in the following areas;

• Building Contractor Class F, E, D and C or G1, G2, G3, G4 & G5
• Contractor SupplieS
• Contractor Services
• Electrical Contractor

Terms and Conditions;

• Bumiputera class-citizen aged 18 years and above
• Experience / knowledge in the field of the underlying business
• Full-timed and registered with the PKK, CIDB and The Ministry of Finance

Financing limits is RM 500,000.00. The guarantee divide into two which is  financing RM 250,000.00 to be excluded under the collateral. While funding RM 250,001.00 to RM 500,000.00 will charged collateral or land security. The rate of profit is 6% per year.

Entrepreneur Guarantee Scheme MARA(SJUM)

MARA working with selected commercial banks to offer financing facilities and MARA act as guarantor. Financing facilities available are Cash Line Facility (Cash Facility), Documentary Credit Murabahah Facility (DCM Facility), Murabahah Working Capital Financing Facility (MWCF Facility), Bai Al-Dyan Working Capital Financing Facility and other facilities offered by commercial banks. Terms and Conditions are as follow;

• Business Bumiputera status Private Limited, Partnership and Sole Proprietor
• Business has been operating and Audited Financial Statements for at least two years and gained a profit for the last 2 years
• Paid-up capital of at least 20% of total company credit search Status application is satisfactory based on the statements of BMC / CCRIS / RAM Credit
• Fulfill the conditions set by commercial banks

Financing Limits for Sole Proprietorship/Partnership is RM 200,000.00-RM500,000.00 and Private Limited Company is RM 200,000.00-RM 2,000,000.00. The guarantee is depends on the terms fixed by Bank and MARA. Besides,  applicants must submit a Business Plan to selected commercial banks or the Office of the MARA is nearby.

 PUTRA Business Financing Program

These loan are eligible for financing for those who want start a business or expand an existing business. Below are the qualifications;

• Citizen of Malaysia and Bumiputera
• Aged 18 years old and above
• Do not require a guarantor
• Open to all youth

General Funding Scheme

Loans to be applied is on the name of the company. Below are the qualifications;

• Citizen of Malaysia and Bumiputera
• Aged 18 years old and above
• Have experience and knowledge in the underlying business
• Have license, permit and business location.

Figure 6.1: With Mr. Haidir

Figure 6.2: With Mr. Haidir

As the conclusion, for Happy Family Restaurant we have chosen the PUTRA Financing Program from MARA. Our goal is to make this loan to strengthen our business finances. Strong financial is very important to a business to operate. The terms and conditions are as information given above about this scheme.

Figure 6.3: Form to apply PUTRA Business Financing Program

Figure 6.4

Figure 6.5

Figure 6.6

The Figure 6.3 until 6.6 is the form to apply PUTRA Business Financing Program.

Besides this interview, we also get an additional information from MARA website, http://www.mara.gov.my/program-putra

Thank You from Happy Family Restaurant.

Prepared by Nicolas Athan Ak Army (S19387)
Edited and Updated by Siti Dayangku Intan Liana Binti Tahir (S18990)