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YOUNG ENTREPRENEUR FUND (YEF)

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Introduction

Young Entrepreneur Fund (YEF) is a special fund allocated by the Government as part of its continuous strategy of acculturation and creation of new entrepreneurs among Malaysian youth. The purpose of this fund is to provide alternative access to the young entrepreneurs in obtaining financing to start their new business as well as for the needs of their existing business.

Financing Concept

  • Based on Shariah financing concept (Bai’ Inah, Bai’ Bithaman Ajil, Ijarah, Ijarah Thummabai’, and Bai’ Istisna)

Purpose & Margin of Financing

  • Working Capital Requirement

Note:

  • Refinancing is not allowed
  • Reimbursement is allowed for expenses not more than 3 months old at the point of financing approval

Financing limit

  • Minimum : RM20,000
    Maximum: RM100,000

Tenure

  • Up to 7 years including maximum 1 year grace period

Net Profit Rate

  • 5% per annum (Annuity Monthly Rest)

Eligibility

  • Malaysian youth between 18 to 30 years of age, owning a business
  • The business is registered with Suruhanjaya Syarikat Malaysia (SSM) under a sole-proprietorship or partnership firm, or a Sdn Bhd company
  • For a partnership firm or a Sdn Bhd Company, the youth applicant must hold majority shares of more than 51% AND is the key decision maker
  • Minimum possession of entrepreneurship / vocational certificate
  • Those without entrepreneurship / vocational certificate could be considered through the acquisition of entrepreneurship training from Centre for Entrepreneur Development and Research (CEDAR), SME Bank
  • Start-up companies/firms, defined as in operations less than 1 year, may be considered


Menara SME Bank. Jalan Sultan Ismail, 50250 Kuala Lumpur
Contact:

Tel: +603 2615 2020

Fax: +603 2698 1748

Call Centre: 1800 88 3131

 

Sources by : www.smebank.com.my

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