What are the common reasons for an application to be rejected?
Among the common reasons are the application does not fulfilled the main financing criteria and the business plan is not viable.
I want to purchase a storage area/warehouse. Can I apply for PUNB financing?
PUNB does not provide financing to infrastructure sector/industry (logistics) for purposes of building a warehouse and haulage services. However, we do finance renovation work or the relocation of the business premises.
What type of businesses that require collateral?
PUNB does not impose an additional collateral for financing below than RM2 million. However, PUNB may impose for additional collateral if the risk of financing is high according to the Credit Scoring result.
What type of collaterals required by PUNB for one to get the financing?
- Cash Upfront / Deposit
- Sinking Fund
- Assets - property (free from claimable by any party)
The profit rate imposed by PUNB is between 5 - 8%. How does PUNB determine this profit rate?
The profit rate is determined based on the type of financing, either for asset purchase or working capital purposes.
What is the payment method for the financing?
To facilitate payment, PUNB provides several methods of payment through internet banking (JomPAY) or cheque.
I am a doctor and wish to operate my own clinic. Does PUNB provide financing for my business?
Yes, PUNB offers financing to professionals such as doctor, architect, engineer and others. To qualify, the applicant must be a certified member of the professional body recognised by the Government. In addition, the applicant's background, such as the number of years in the profession, exposures and experiences in the business you are venturing into are amongst the criteria that PUNB will be assessing.
I would like to apply for an additional financing and had deposited a collateral for the first financing. Do I need to provide additional collateral for the second financing?
It is not necessary to provide additional collateral if the value of collateral from the first financing is sufficient to cover the value of the collateral needed for the joint amount of second financing and the remaining balance of the first financing.
What type of businesses under financial sector that are eligible for PUNB financing?
In the financial sector, PUNB only consider application for businesses that provide foreign money/currency exchange services.
What is the minimum revenue per year for a business to be entitled for PUNB financing?
The minimum revenue per year to qualify for PUNB financing is RM300,000 and above and the business must be in operation not less than 18 months.
I have goat farming business. Can I apply for PUNB financing?
PUNB does not provide financing for livestock and plantation sectors including upstream agriculture sector for food.
What are the criteria of a business preferred by PUNB?
PUNB is focusing on innovative business of high upstream and downstream value, customer-friendly, technological adaptable and highly scalable.
Is the financing tenure of 10 years applicable to all financing amount?
The maximum financing tenure is 10 years but it is subjected to the final approval which is dependent on the type of business, sales value and profit rate of the company.
I want to expand my business globally. How can PUNB assist me in terms of research for external market?
PUNB has partnered with several Government agencies in assisting entrepreneurs to expand their business overseas. PUNB provides financing assistance for research on new and overseas markets through collaboration with these agencies.
If I'm interested to apply for PUNB financing, what I need to do?
You need to prepare and submit a complete business plan with all relevant supporting documents required for the application. For further enquiries, please call our Customer Service Centre at 1 300 13 7862 or attend our weekly briefing at PUNB HQ, Branch and Regional offices.
What is the maximum amount offered by PUNB?
PUNB's single limit exposure for each company or group of companies run by the same entrepreneur is up to RM10 million.
What is the scope of financing offered by PUNB?
The scope of financing offered by PUNB includes:
- Working capital
- Business premises renovation
- Equipment/machine supply
- Product registration/patent/copyright
- Research for new and overseas markets
- Product/process enhancement
- Domestic/international certification (product/company/staff)
- Marketing & promotion
I was made to understand that apart from financing assistance, the company will be given some value-add assistance. Does this include in the package?
Yes, apart from financing assistance, companies will also received business support related to monitoring and advisory, entrepreneur development & training, business development and network support to help the business grow.
What are the benefits of PUNB financing?
PUNB financing is Shari'ah compliant with transparency assessment process and stamp duty rebate on financing document.
My company has been in operation for a year. Am I eligible to apply for PUNB financing?
For a company/business which is interested to apply for PUNB financing, they are required to be in operation for the minimum of 18 months and must have good and updated business/financial records.
What are the preferred business sectors for PUNB financing ?
PUNB gives priority to the following business sectors:
- Businesses in the retail sector
- Services (such as professional services)
Which business sectors not financed by PUNB?
The business sectors which are not financed by PUNB are:
- Non-Shari'ah compliant business
- Plantation & livestock
- Infrastructure (logistics):
- Warehouse construction
- Haulage services
- Financial services (except for foreign/currency exchange business)
- Real estate development
- Civil construction
What is the age limit eligible for the financing?
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 business partner to ensure the business continues to operate should anything happen to the owner.
How long does it take to assess, approve and disburse the financing?
The whole process of financing from assessment, approval and disbursement is subject to submission of complete documents and viability of the business plan. For financing below RM1 million, the assessment and approval is subject to a maximum of 30 working days whilst more than RM1 million is 60 working days. The disbursement however is subject to the following:
- Meet all the condition precedents
- Obtained 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)
Do I have to pay a processing fee when applying for the financing?
Yes, you have to pay a processing fee of minimum RM50 and maximum of RM1000 once your application is approved. The amount of fees depends on the financing amount approved.
Will the processing fee be deduction from the financing approved?
No, this processing fee needs to be paid in advance upon acceptance of the Offer Letter.
Does PUNB provide a business plan courses?
PUNB conducts business plan workshop for those who are interested with an entry fee of RM100. This course is not mandatory and it is not a part of the pre-requisite for financing approval.
I am still in employment and at the same time, running a business. Am I eligible to apply for the financing?
Yes, you can apply. However to qualify for the financing, the business must be in operation more than 18 months and you need to run the business on full time basis.
I have a non-Bumiputera partner in my business. Do I qualify to apply for the financing?
You are eligible to apply on the condition that your company's shareholding and operation is controlled by Bumiputera.
I own a business in a foreign country. Can I get the financing from PUNB??
You may apply the financing for a business in the foreign country, provided that the business has a Headquarters in Malaysia and is controlled by Bumiputera.
How do I check the status of my financing application?
You can contact PUNB after a minimum of 14 working days from the date of submission of the business plan.
I was informed that PUNB also provide premises for rental to the entrepreneurs. What do I need to do if I am interested to rent one?
The premises for rental are limited only to units owned by PUNB. If you are interested and for further enquiry on the vacant units which are available, please visit PUNB's official website or contact Customer Service Centre at 1 300 13 7862.
What should I do during my financing tenure?
For PUNB to assist your company in the most effective manner, you should ensure that you adhere to the terms of financing as stipulated in the financing agreement and give your full cooperation to our monitoring officer carrying their duty from time to time.
If I have received a financing from another financial institution, am I eligible to apply for PUNB financing?
You are eligible to apply from PUNB provided that the application does not overlap or it be used to pay off the existing financing with another financial institution.
Is my financing covered by Takaful protection?
Your financing is protected under Takaful coverage provided by PUNB Takaful panel which covers the entrepreneur as an individual and his/her business assets.
My financing application has been approved by PUNB, but I have to postpone the use of the funds due to some unforeseen circumstances. Can PUNB extend the validity period of the financing as stated in the offer letter?
The request for postponement can be considered if the explanations are of valid reasons and does not affect your business plan.
Can I appoint my own lawyer to prepare the necessary documentation for PUNB business agreement?
No, you cannot. PUNB only allows its panel of lawyers to undertake the preparation of all documentations related to the financing agreement.