question archive Ali wanted to apply for a TEKUN business loan to open up an ice cream shop
Ali wanted to apply for a TEKUN business loan to open up an ice cream shop
Subject:BusinessPrice:2.86 Bought3
Ali wanted to apply for a TEKUN business loan to open up an ice cream shop. Can you list down each component he would need for the application , with examples of the ice cream shop business content for each component? (10 mark)
Purchase A New Answer
Custom new solution created by our subject matter experts
GET A QUOTE
Answer Preview
- Bumiputera and Malaysian citizen
- Aged between 18 - 60 years old (Financing period expires up to 65 years)
- Applicant is not a bankrupt
- Company is 100% fully owned by Bumiputera
- Has a valid licence/ permit/ Business Register (SSM)
- Has a specific business location or premise/ mobile business
- Engage directly and part-time in business
- One financing for one household (except for separate businesses and different business registers (SSM) as well as a good payment record for household)
- Paid capital limit does not exceed RM 300,000
- Existing business financing (example: MARA, AIM, SME, PNS, etc.) does not exceed RM100,000
- Applicant already has a business. Whereas for applicants who wants to start a business are required to have a minimum personal cash contribution of 20% from the financing as a commitment to carry out a project (project progress)
- For the purchase of commercial vehicles/ heavy machineries, total financing is 10% of the price of the commercial vehicle/ heavy machinery (subject to the cash flow and financial standing of applicant)
- For Enterpise companies (Partnership), it is necessary to obtain a partner authorization letter that allows applicants to make financing and the partner must be Indian of race as well as Malaysian citizens
- For Private Limited companies (Sdn. Bhd.) shall be obliged to provide the Company Resolutions in accordance to the format provided which gives out the authorization
- Distribution of financing on behalf of the Company for financing of RM 20,000 and above
- Approval of financing on behalf of Enterprise (Sole Proprietorship) for financing of RM 20,000 and above may be considered its eligibility by using the current personal account of the applicant or Enterpise
