How to Apply for COVID Business Recovery Financing Scheme 2.0

TEKUN Nasional has opened applications to micro-entrepreneurs who wish to apply for financing scheme to improve their businesses through the Covid Business Recovery Micro 2.0 (CBRM 2.0).

CBRM 2.0 is supporting existing and new entrepreneurs affected by the COVID-19 pandemic by enabling them to resume operations and revive their businesses.

Entrepreneurs who are interested in applying for CBRM 2.0 can apply beginning 15 August 2021.

 

Financing rates

The financing rate offered is from RM1,000 to RM10,000 to new entrepreneurs.

For existing entrepreneurs, the financing rate offered is RM1,000 to RM20,000.

 

Requirements

Entrepreneurs who wish to apply must meet these requirements:

• The applicant must be a Malaysian citizen: Bumiputera or Indian.

• The applicant is aged 18 years and above.

• The applicant has a license/permit from the Local Authority or Companies Commission of Malaysia (SSM).

• The applicant is involved in the business either full-time or part-time.

• The applicant has a specific place/location of the business or on the move.

• The applicant is free from any legal action and bankruptcy.

• The applicant's existing funding balance does not exceed RM100,000.

• The activities carried out by the applicant are shariah compliant.

The financing scheme is open to Bumiputera and Indians.

 

How to Apply

To apply for CBRM 2.0, interested entrepreneurs can follow these steps:

1. Visit the TEKUN Online website at https://tekunfin.tekun.gov.my/login.

2. Click "Daftar Akaun".

3. Fill in the required information and click "Hantar".

4. Log in by entering your identity card number and password.

5. Fill in your personal information.

6. Submit once everything is complete.

 

FAQ

How long is the process of the Micro Business Rehabilitation Financing Scheme 2.0 (CBRM 2.0)?

The approval process is within seven working days (subject to terms and conditions).

 

Is my financing covered by insurance?

Yes. Takaful Insurance covers the financing provided it is still within the financing period.

 

Does TEKUN appoint an agent/representative to manage CBRM 2.0?

No. TEKUN does not appoint an agent/representative to manage this financing application.

 

Does CBRM 2.0 have savings like other TEKUN financing schemes?

Entrepreneurs via CBRM 2.0 are exempted from paying for savings.

 

What types of business sectors are eligible to apply for this scheme?

Eligible business sectors to apply for the scheme are:

• Retail, 

• Services, 

• Manufacturing, 

• Small contractors, 

• Online businesses,

• Agriculture and agro-based enterprises.

 

For more information on CBRM 2.0, please visit the TEKUN Nasional website at https://www.tekun.gov.my/ or refer to the nearest TEKUN Nasional branch office at https://www.tekun.gov.my/ms/contact-us/connections/.

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