Companies from all economic sectors, incorporated under the Companies Act 1965 with at least 51% shareholding by Malaysians, can apply for the Industry Restructuring Financing Guarantee Scheme (IRFGS).
For the Working Capital Guarantee Scheme (WCGS) companies from all economic sectors, incorporated under the Companies Act 1965 with at least 51% shareholding by Malaysians are eligible. The company's Shareholders' Fund should also not exceed RM20 million.
Terms and Conditions apply for both schemes.
Sole proprietorships and partnerships are not eligible for the WCGS and IRFGS. However, they may apply for SME Assistance Guarantee Scheme (SAGS).
If your business is incorporated as a Sdn Bhd, you can apply through any Maybank Business Center nearest to your business premises. If your business is a sole proprietorship or a partnership, you can apply at any of your nearest Maybank Sales & Service Centers (branches).
You can apply for the schemes at any Maybank Business Center or Sales & Service Center. No specific application form is needed.
You need to submit the standard documents for loan processing, which include:
The Working Capital Guarantee Scheme (WCGS) is for viable companies with shareholder equity below RM20 million for financing working capital requirements. The Industry Restructuring Financing Guarantee Scheme (IRFGS) meanwhile is for viable companies to finance investments in high value added activities (such as research & development and downstream agricultural activities), and to increase productivity and greater application of green technology.
The minimum amount of financing is RM50,000 for both schemes. The maximum amount meanwhile is RM10 million for the Working Capital Guarantee Scheme (WCGS) and RM50 million for the Industry Restructuring Financing Guarantee Scheme (IRFGS).
The Government provides an 80% guarantee of the financing limit, and the schemes are available to companies from all economic sectors.
Yes. However, you may apply for additional financing only. Refinancing of your existing facilities is not allowed.
No. Refinancing of existing facilities is not allowed.
The financing tenure for the Working Capital Guarantee Scheme (WCGS) is up to 5 years and the tenure for the Industry Restructuring Financing Guarantee Scheme (IRFGS) is up to 10 years.
The schemes are available until 31 December 2010, or until the funds (RM5 billion for each scheme) are fully utilised, whichever comes first
For the Working Capital Guarantee Scheme (WCGS), the financing guarantee cover is 80% of the financing limit. The financing guarantee cover for the Industry Restructuring Financing Guarantee Scheme (IRFGS) meanwhile is as follows:
|Shareholders' Funds||Guarantee Cover|
|Less than RM20 million||80% of financing limit|
|RM20 million & above||50% of financing limit|
Yes, the Government Guarantee Scheme (GGS) will offer both Conventional and Islamic financing options.
Both financing schemes are funded by individual commercial banks. As such, the financing rate for conventional financing will be set at the Bank's Base Lending Rate plus a spread. For the Islamic option, the profit rate will be set at the Base Financing Rate plus a spread.
Rates for the utilisation of trade line facilities will be at the current rates approved by the Association of Banks in Malaysia.
No. The Borrower will at all times be held responsible for servicing the financing facility/ loan. The Bank will institute legal proceedings against the Borrower in the event of facility default.
Property purchase does not fall under the category of investment. The IRFGS is only meant for capital expenditure financing/investments for companies to invest in High Technology, High Productivity and Green Technology. It is not for working capital or refinancing of existing capital expenditure facilities.
The WCGS is for local business operations only.
Please contact the following:
GALS comprises of various schemes with guarantee cover provided by the Credit Guarantee Corporation (CGC) to all SME customers. WCGS and IRFGS are schemes with guarantee cover provided by the Government made available to all Malaysian-based companies (shareholding of at least 51%) incorporated under the Companies Act 1965. All applicants must meet the eligibility criteria stipulated under each scheme.
FSMI2 and NEF2 are funded by Bank Negara Malaysia and the financing rate is determined by BNM. FSMI2 and NEF2 are strictly for SMEs. WCGS and IRFGS are funded by banks and the financing rate is determined by respective banks independently. Both schemes are open to all Malaysian-owned companies (with shareholding of at least 51%) incorporated under the Companies Act 1965.