Thursday, 25/04/2019

Frequently Asked Questions

PROSPER Runcit

PROSPER Pemborong

SME Scheme

You are eligible to apply if you meet with the following criteria:

a) Have knowledge and experience in the business

b) Good potential business / able to pay the financing

c) Suitable and strategic business location

d) Possess good financial track record

You need to prepare a business plan and submit the company's audited financial report, profit and loss account and balance sheet of the past 1 year

You can still submit the business plan to PUNB, however PUNB gives preferences to the following type of business:

a) Business in retail and services sectors such as professional services.

b) Business as an agent, middleman and small scale wholesaler.

c) Business where Bumiputera's involvement and participation of is low. (Excluding agriculture, animal farming, property & construction, transportation business (eg: taxi business and bus operator) entertainment and tourism related business (eg: car rental business and travel agency).

d) Shari'ah compliant business.

Yes. We do consider an on-line business concept provided that you have an office, a store for goods and a website to promote your business.

The maximum tenure is 10 years and the profit margin rate is 5% per annum. In order to encourage entrepreneurs to pay consistenly and on time, the Management may consider giving an 'Ibra.

The minimum age limit is 18 years old and the maximum is 55 years old. However, if the applicant is over 55 years old, he/she must have a director or a partner who holds more than 40% shareholding in the company. This is to ensure the business will continue by a successor should anything happen to the owner.

Yes, you can apply, but to qualify for the financing, you must run the business on full time basis. You must resign from your current employment when you received a Letter of Offer from us.

You cannot apply for the financing alone. This is because PUNB offers an integrated package comprising financing, advisory services, training and monitoring. The purpose of the monitoring is to make sure the company business is on the right track as spelt out in the business plan.

The approval and disbursement is subject to a maximum of 60 working days if you :

a) Submit the Business plan with complete documents,

b) Meet all Condition Precedents,

c) Obtained a permission from financial institution to allow the company to charge current or future (debentures) assets either in fixed and / or float form or specific charge (if necessary).

PUNB will take legal action to re-coup the financing.

At the time of application, your business maybe registered as a sole proprietor or partnership. However, after PUNB has approved the financing, you are required to set up a Sdn Bhd (private limited) company with the agreed capital structure and shareholding.

If the company is registered under the Companies Act 1965, Bumiputera individual must be an active partner who owns at least 70% shareholding in the company. Also at least 70% of the company's key members of the Management team must be Bumiputera.

Yes, you have to pay a processing fee of minimum RM50 and maximum of RM1000 once your application is approved. The scale of fees depends on the amount of funding you ask for.

Generally, PUNB provides financing up to the maximum of RM5million for a business subject to the paid- up capital (not burdened by accumulated losses) to the financing ratio not exceeding 1:4

The request can be considered if the explanations are accepted based on valid reasons. However, if the postponement is more than 6 months, PUNB had to re-evaluate your application and the project at current time. The validity period of the original financing will then expire automatically.

The wholesale businesses eligible for financing are consumer and industrial goods for the following business activities:

In addition to selling of goods, other type of wholesale business can also include preparing or arranging logistics, allocation, marketing and support services such as packaging and labeling, inventory management and shipping.

 

PROSPER Pemborong Scheme offers working capital financing for the purchase of goods/stocks, sales and credit purchases and operational expenses. However, PUNB will also consider financing for the purchase of certain fixed assets that are crucial to generate income for the business.

No, you can't. Only PUNB's panel of lawyers is allowed to prepare all documentations related to financing agreement.

Normally PUNB does not require any collateral from you to get the financing

The duration of financing depends on the type of financing offered by PUNB. Normally the maximum financing period is 10 years.

Any business entity owned by Bumiputera and registered under Registration of Businesses Act 1956 is qualified to apply for PUNB financing. If the company is registered under Companies Act 1965, the Bumiputera individual must be an active partner and owns at least 70% shareholding in the company. Apart from that, the company must be in business for at least 2 years whereby the products and/or services are already in the market.

In SME Scheme, the financing focuses on high growth and export potential enterprises in manufacturing and selected services. Apart from that, PUNB also consider business sectors of the economy that provide synergy to PUNB's existing investment portfolio.

The business sectors that will not be financed by PUNB are financial services, agriculture, animal farming, property & construction, entertainment, transportation and tourism related business. PUNB does not tolerate business sectors which contradict Shari'ah principles.

PUNB takes approximately 60 working days after the receipt of the business plan to approve the application provided all information and documents are complete.

For disbursement, PUNB takes approximately 45 working days from the date of approval provided all related documents are complete and signed. However, it may take a little longer for cases whereby the applicant needs to obtain a consent from the existing lenders. 

Yes, there is a minimum processing fee for every application made. However, you can make the payment after the application is approved by PUNB.

Yes, the profit rate imposed by PUNB is competitive with other conventional financing in the market.

Generally, PUNB provides financing up to the maximum of RM5 million for a business subject to the paid- up capital (not burdened by accumulated losses) to the financing ratio not exceeding 1:4

The financing is disbursed according to the type of facilities offered. For working capital financing, the fund is channeled to company's current account which will be monitored by PUNB.

For fixed assets financing and Al Murabaha facility, the fund is channeled directly to the supplier or seller account.

For PUNB to assist your company in the most effective manner, you should ensure following:

a) Prepare company's financial statement and send it to PUNB on time,

b) Give your cooperation when PUNB monitors your company's financial performance and business operation,

c) Ensure that directors and employees attend relevant courses organised by PUNB or third parties from time to time.

Normally, PUNB does not require any collateral from you to get the financing.