What can I do with MIDF SME Transformation Financing (SMETF)?
MIDF SME Transformation Financing is designed to support your business by enhancing its competitiveness, productivity and sustainability. If you’re incorporating automation, digitalization and ESG practices into your business, look no further than this financing scheme by MIDF.
What do I get from this financing?
MIDF offers a high financing amount between RM100,000 up to RM5 million with flat interest rates of 4% per annum on monthly rest for Commercial Property, 5% per annum on monthly rest for Machinery and Equipment, and 6% per annum on monthly rest for Working Capital.
The financing tenures, meanwhile, differ from items to items that you would like financial assistance on, such as:
- Commercial property: up to 10 years
- Machinery and equipment: up to 7 years
- IT hardware and software: up to 7 years
- Working capital: up to 6 years
- Factoring facilities: up to 150 days
Am I eligible for this business financing?
Your company must have the following criteria to qualify for the MIDF SME Transformation Financing.
- SME incorporated under the Companies Act 1965, Companies Act 2016 or Registration of Business Ordinance 1956
- Annual Sales or Turnover of more than RM200,000
- At least 60% equity held by Malaysians
- Possesses valid business premise license by local authority
- SMEs with shareholding not exceeding 20% held by public-listed companies (only if applicable)
What are the documents required to make an application?
Please prepare the following documents to apply for this business loan.
- Valid business license
- CTC company form
- CTC IC copy for all directors/shareholders (front & back)
- 6 months' bank statement
- Latest annual return
- Latest 3 years' audited financial statement
- Draft/latest management account
Note that MIDF may request additional documents for credit assessment, if applicable.
