What is this business loan about?
The MIDF Soft Financing for Services Capacity Development (SFSCD) allows you to enhance your company’s productivity to match the market’s competitiveness. With financial aid from MIDF, you can kickstart your business to great heights of global expansion.
What are the interest rates and tenures?
SMEs get a flat 4% per annum interest rate on monthly rest. Non-SMEs get a flat interest rate of 5% annually on monthly rest.
The tenures depend on the items you would need financial assistance on. For example,
- Machinery and equipment: up to 7 years
- IT hardware and software: up to 7 years
- Working capital: up to 7 years
Who is eligible to apply for MIDF Soft Financing for Services Capacity Development?
Below are the eligibility criteria for applying for this business loan.
- Registered with SSM or Professional Regulatory Bodies
- Annual Sales or Turnover of more than RM200,000
- At least 60% equity held by Malaysians
- Possesses valid business license by local authority
- In operation for at least 2 years
- Annual turnover exceeding RM200,000 and full-time employees exceeding 5
What are the required documents to make an application?
Please prepare the following documents to make an application.
- Valid business license
- CTC company form
- CTC IC copy for all directors/ shareholders (front and 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.
