TemanNita Financing Scheme Conditions
Published on: 04/03/2017
Updated on: 12/04/2018
To help women entrepreneurs obtain group financing easily, quickly and efficiently for business purposes.
- Bumiputera & Female.
- Aged 18 – 60 years old.
- Must be running a potentially & viable business venture.
- Possess a valid licence/ Permit/ Business Registration (SSM).
- Permission to use licence/ permit issued by the Municipal Council for financing of RM 5,000 and below should the applicant fail to provide business registration (SSM) in Sabah and Sarawak.
- Have a dedicated business premise/ location or mobile business.
- Existing business financing with other financial institutions does not exceed RM 50,000.
- To form a group of five (5) entrepreneurs (WOMEN) among trusted contacts/ business partners, immediate family members are not allowed in a group.
- Group members cover a wide range of legitimate business activities.
- The business of group members must be within close proximity with one another in a range of LESS than 10 kilometers and depending on the locality of the group’s businesses.
- Repayments made weekly/ fortnightly/ monthly/ PD Cheque.
- Attend weekly meetings at business premise/ TEKUN Branch Office/ suitable venue with the TEKUN officer.
- Group Overlap Financing after 1 year with half of the financing balance is allowed.
- To attend the Basic Entrepreneurship Seminar (SAK) of TEKUN Nasional.
- Protection under Takaful Insurance (Financing) and Life & Accident Insurance.
- TEKUN Management Charge of 4% from the annual financing value throughout the financing period.
- Compulsory deposit of 5% from the annual financing value.
- First financing from RM 1,000 to RM 10,000.
- Further financing of up to RM20,000.
- Financing period between 6 months to 5 years.
- Based on the concept of guarantee & cooperation among group members.
- Collections made during the weekly group meetings.
- Pledges are read individually or in groups at each weekly meeting.
*Subject to the financing terms and conditions of TEKUN Nasional.