The Entrepreneur Development and Cooperative Ministry, via Majlis Amanah Rakyat (Mara), is giving out loans of up to RM250,000 per business to attract Bumiputera participation in the
franchising industry.For the 1st time, Mara is offering a 100% loan that requires no collateral or guarantor. Previously borrowers must have at least a 10% start-up capital to be eligible for loans. Currently, only Mara loans of under RM30,000 do not require collateral.
The payback format for the new franchise loans is based on Islamic method which has been lowered to 4% per annum from 5% previously.
‘We were just discussing about it this morning. The details and official announcement will be made on Friday by the Director General,’ the Entrepreneur Development deputy director Meriyam Abdul Majid said. Read more.
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