The Purpose of the Micro Fund

The Micro Funds is for the purpose of helping a budding entrepreneur start up a new business.  The conditions for application are given below.

ELIGIBILITY and CONDITIONS OF APPLICATION

1. the applicant must be a Malaysian citizen, residing in Malaysia and be of legal age to start and manage a bona fide business in Malaysia. He need not be a member of the B&P Ministries.
2. the applicant must be the business owner or the managing partner in a partnership business.
3. the type of business must be one that is approved by the B&P Ministries and by the authorities of Malaysia.
4. the licenses and approvals for the business are the responsibility of the applicant.  Applicant must show proof of the necessary business license and/or approvals when applying for the loan.
5. the applicant may submit the business proposal for  funding of only one project. Request for additional funds and subsequent finance is conditional. It is based on the viability of the new project and the capabilities of the applicant. Funding for the second and subsequent projects is allowed only after the seed funds for the first project is returned in full to B&P Ministries.
6. the applicant must agree to abide by the terms and conditions stipulated by B&P Ministries for the loan.
   1. Eligible applicant can apply for a maximum loan of RM15,000 per project.
   2. Loan repayments start 12 months after the applicant has started his business.  The minimum repayment sum is RM500 p. month for a period of 8 months.  Thereafter, the repayment sum will be adjusted according to the success of the applicant.  The full pay-back time frame will be reviewed every six months and must be agreed to by both parties.
   3. Undergo a three-month entrepreneurship training with an appointed B&P leader.
   4. Mentoring by process and domain expert with monthly progress report.
   5. No interest is charged on our Micro-funding.  It is expected that apart from returning the original seed funds – the recipients ought to generously tithe at least 10% of the return to the B&P Ministries on free-will basis.
7. The Micro-funding Committee will conduct the feasibility study and validate the project.  The decision of the B&P Ministries is final and no appeals will be entertained.

How to apply

1)  Submit a business proposal with relevant supporting documents to the B&P Micro-funding Committee.  A repayment schedule must also be included.

2)  Complete the Loan Application form which must be submitted with the business proposal.

3)  All documents must be submitted to the B&P Secretariat at:

B&P Secretariat

UCSI University Alumni House
13 Jalan Lawrence Law
Taman Taynton View, Cheras
56000 Kuala Lumpur.

Tel: 03- 91018880

fax:  03- 91300587

Email:  This e-mail address is being protected from spambots. You need JavaScript enabled to view it