| New Entrepreneurs Fund 2 (Conventional and Islamic) |
| Amount | RM2,000 million |
| Date established | 15 Jul 2001 |
| Main Objective | To help stimulate the growth of small and medium-sized Bumiputera enterprises. The fund is a continuation of the New Entrepreneurs Fund which was terminated on 15 July 2001 |
| Maximum financing rate | 5.0% p.a. |
| Maximum tenure | 8 years |
| Minimum funding | None |
| Maximum funding | RM5 million |
| Participating Financial Institutions | - All commercial banks
- All finance companies
- All islamic banks
- Bank Pembangunan dan Infrastruktur Malaysia Berhad
- Bank Industri dan Teknologi Malaysia Berhad
- Malaysian Industrial Development Finance Berhad
|
| Eligibility | - Shareholder's funds not exceeding RM10 million;
- Wholly-owned Bumiputera institutions incorporated under the Companies Act 1965, the Co-operative Societies Act 1993, the Societies Act 1966, Bumiputera residing in Malaysia and Bumiputera entrepreneurs registered under the Registrar of Business or any other authoritative bodies.
or - The small and medium-sized Bumiputera enterprises participating under the vendor development programmes of the Ministry of Entrepreneur Development, or Ministry of Finance, with at least 70% Bumiputera equity and management control.
|
| Purpose of financing | - Expansion in productive capacity;
- Working capital;
or - Both the above
Financing should not be used for : - Purchase of shares
- Refinancing of existing credit facilities.
|
| Eligible sectors | All economic sectors |
| Application procedure | Applications should be made through any participating financial institutions. Approvals will be subject to the normal vetting procedures and security requirements of the participating financial institutions. |
