Vanigham Financing Scheme
A financing facility to support small businesses for asset acquisition and working capital requirement helping them grow their business, expand their reach, and boost their competitiveness in business
Purpose
- Machinery/Equipment; and/o
- Commercial Vehicle; and/or
- Working Capital Requirement
Eligibility
- Small enterprises as defined by SME Corp.
- Registered with Suruhanjaya Syarikat Malaysia (“SSM”), or authorities/district offices (for Sabah and Sarawak), or statutory bodies for professional service providers.
- Shareholding by Public Listed Companies or Government Linked Companies (if any) shall not exceed 20%.
- Malaysian Indian residing in Malaysia hold a minimum of 51% shareholding OR CEO/ MD is a Malaysian Indian that hold a minimum of 10% shareholding.
- Shariah-compliant business.
- At least 2 years in operations
- Additional Eligibility Criteria under respective BNM Fund.
Financing Facilities
- Commodity Murabahah Term Financing-i (CMTF-i)
- Ijarah Thummal Bai` (ITB) Financing
- Revolving Credit-i (RC-i)
Financing Limit
- Minimum: RM100,000
- Maximum: RM300,000
Profit Rate
| Fund | Profit Rate | ||||||
|---|---|---|---|---|---|---|---|
| Bank Negara Malaysia (BNM) Fund |
| ||||||
| SME Bank Market Fund | 6.0% p.a. (net of 1.0% profit rate subsidy) |
Margin of Financing
| Purpose | Margin |
|---|---|
| Machinery / Equipment | Up to 80% |
| Commercial vehicle | Up to 90% |
| Working Capital | Up to 100% |
Financing Tenure
| Purpose of Financing | Tenure |
|---|---|
| Machinery / Equipment | Up to 7 years |
| Commercial vehicle | Up to 7 years |
| Working Capital | Up to 5 years |
Collateral
Collateral acceptable by the Bank as per SME Bank's policy.
Takaful
- Takaful / insurance coverage is mandatory if the asset is given as security for the financing (if applicable). You have the option to select the service offered by our panel Takaful operators or non-panel Takaful operators.
- Takaful coverage is required for working capital financing involving purchase of stock (raw materials, semi-finished goods)
Fees and Charges
Product Disclosure Sheet
SME Bank is now available to accept online financing applications Apply Now
