SME Biz G.R.O.W Financing Program

Pursuing your business goals is just a step away with SME BIZ GROW. We aim to help you achieve your business goals by offering attractive financing features that will help to maximise your business. SME Biz GROW Financing (Tawarruq) Programme is a financing program specially designed for Small and Medium Enterprise (SMEs) to cater for their working capital and/or capital expenses.

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Eligibility

  • For Private Limited Company and Professional Service Providers that fall within SME definition.
  • Business in operation for at least three (3) years and profitable for the past two (2) years.
  • Malaysians residing in Malaysia that hold a minimum of 51% shareholding in the business.
  • Registered with Companies Commission of Malaysia (SSM), or authorities/district offices in Sabah and Sarawak, statutory bodies for professional service providers.

Purpose of Financing

To finance Working Capital Requirement (WCR) and Capital Expenditure (CAPEX).

Note:

  • Inclusive of legal documentation costs, first year SJPP guarantee fee, and other relevant costs.
  • Financing cannot be used to refinance existing financing granted by the Bank or any other Banks. The Bank reserves the right to terminate the facility in the event the Bank discovers that the facility is used for other purposes.

Financing Amount

Sdn Bhd:
  • Minimum: RM100,000
  • Maximum: RM2.5 million
Professional Services Providers*:
  • Minimum: RM100,000
  • Maximum: RM1.0 million
Note: *This financing is NOT applicable to Professional Service Providers that are registered as Sole-Proprietorship / Partnership.

Financing Rate

Attractive financing rates

Financing Tenure

Up to seven (7) years

Collateral/Security

Up to 80% Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) Guarantee, subject to scheme offered:

Option 1: Government Guarantee Scheme, GGS Madani 3
Option 2: Working Capital Guarantee (WCGS) OR Working Capital Guarantee Scheme – Bumi (WCGS – Bumi)



Sdn. Bhd.:

  • Joint and Several Guarantee (JSG) by the following individuals:
    • Directors of the company
    • Shareholders holding more than thirty percent (30%) of the share capital.
    • Key man / person regardless of the shareholding and directorship
  • Corporate Guarantor holding more than fifty percent (50%) of the share capital of the customer

Fees & Charges

No.

Fee Type

Charges
1 Stamp Duty Actual Cost – As per Stamp Duty Act 1949 (Revised 1989):
  1. Principal Agreement – Ad Valorem of 0.5% of financing amount
  2. Secondary / Supplementary Agreement – Nominal of RM10 of each document
2 Legal Fees Actual Cost
3 Processing Fee Waived
4 Tawarruq Agency Fee RM50 (RM25 of each ABPA and ABSA)

Note: Tawarruq Agency fee costs RM50.00 for every Tawarruq transaction.
5 Late Payment Charges Late payment charges (LPC) are as per BNM’s latest Guidelines on Late Payment Charges for Islamic Banking Institutions as well as Bank Islam Ta’widh clause.
6 Guarantee Fee The Guarantee Fee is up to 1.00% per annum of the coverage amount, depending on the scheme offered by SJPP and subject to 8% Sales and Service Tax (SST). The Bank will finance only the first year of the SJPP Guarantee Fee. For subsequent years, the Guarantee Fee will be debited from the customer’s account with Bank Islam
7 Cancellation Fee Based on actual cost (if any) for the preparation and registration of security documents that has been incurred by the Bank in connection with the facility including all expenses incurred during the claim process.
Product Disclosure Sheet:
  • Click here to view Product Disclosure Sheet – English Version
  • Click here to view Product Disclosure Sheet – Bahasa Malaysia Version

For enquiries email to: sme-assist@bankislam.com.my

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