NEW BANK LOAN IN THE MARKET
Feature 6:55 AM Text Size : [+] | [-]
The government is now coming up with the loan scheme to help the companies to continue gaining access to financing facilities from Banks during the current challenging economic environment. The 2 schemes are Working Capital Guarantee Scheme (WCGS) & Industry Restructuring Financing Guarantee Scheme (IRFGS). WCGS to provide access to working capital financing; and IRFGS to increase productivity and high-value added activities and promote the application of green technology.
The Bank waive the processing fee and the penalty interest but will charge guarantee fee of 0.5% upon approval.
Please find some details below and see the Bank immediately:
Working Capital Guarantee Scheme (WCGS)
- Financing Limits: Minimum of RM50,000 and Maximum RM10 million per company
- Interest / Financing Rates: BLR / BFR + 1.0% p.a.
- Facility Type: Term Loan , Overdraft or Cashline
- Loan Tenure: Up to 5 years
- Purpose of Financing: The scheme granted shall be for the purpose of Working Capital financing and not for refinancing of existing facilities granted by the same or other Banks.
Industry Restructuring Financing Guarantee Scheme (IRFGS)
- Financing Limit: Minimum of RM50,000 and Maximum of RM50 million per company
- Interest / Financing Rates: BLR / BFR + 1.0% p.a.
- Facility Type: Term Loan , Overdraft or Cashline
- Loan Tenure: Up to 10 years
- Purpose of Financing: The scheme shall be granted for the purpose of financing investments to meet IRFGS objective and not to refinance existing financing facilities granted by the same or other Bank
Posted by OM
on 6:55 AM.
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