What does BSN Microplus have to offer?
BSN Microplus is a conventional business loan offered by Bank Simpanan Nasional to micro and small businesses. It is an opportunity for these business owners to expand and grow their businesses, taking it to new heights.
This financing plan allows you to borrow anything from RM50,000 to RM250,000 with a flat profit rate from as low as 8.45% p.a. with a financing period of 1 to 7 years.
What can I finance with this business loan?
With this business loan, you have several choices when it comes to investing your capital in. You can use it in Manufacturing, the Service and either the Retail or Wholesale business sectors.
Use it to grow your business, with buying machinery or equipment, as well as to manage your daily expenses.
Who can apply for BSN Micro Plus?
To be eligible for this particular business loan, applicants must meet the definition of Micro, Small or Medium Enterprise owners as given by the National SME Development Council. They must have a satisfactory financial track record with BSN or any other financial institution
Aside from this, applicants must also meet the following requirements:
- Malaysian Citizen between the age of 21 and 60 years old.
- The business has been operating continuously in the same line of activity/industry for at least 3 years.
- Existing Micro Finance customer of BSN.
- Majority of the company's shareholders or the business proprietors are Malaysian.
- Possess valid registration certification and licensed with the Companies Commission of Malaysia (CCM) or local government authorities/government bodies.
How can I pay back the instalment?
There are several ways you can choose to pay your instalments, among them are manual via your savings or current accounts, using a bank transfer, or even an auto-debit facility.
On that note, you can even do manual bank-ins at any ATM or online banking facility convenient to you.