Hi, Good day!

I would like to take a small franchise which cost approximately RM80,000.00. But modal is a problem. I have search for some SME bank loan, ( Graduate Entrepreneur Fund , Young Entrepreneur Fund but I do not know did they provide loan for franchise or not. So any of you experience in franchising? apply SME loan before? which bank is better? franchise is eligible to apply for the fund stated above?

I believe there is a loan catering to franchise business. Can't recall.

Regarding this SME bank loan, you have a higher chance to get the loan if you have an existing business <-- being told by their bank officer

If you don't have any experience in handling any business, you can still apply but lower chances. if it was pre-approved, a mentor will be assigned to guide you on the business set up.

Also, you need to attend a class and get the cert in order to get the loan approval. Ask them about this class...

what franchise is that?

Do you have collateral? Or a guarantor with good income statement?

If no, forget bout it

Check this out -> Franchise Financing Scheme from CGC.

Yes they provide for franchise with condition that the franchise is registered with KPDNKK. If you are new into biz then u need to attend their kursus at RM600 for 3days. You can start submit your paperwork after this kursus. I had done the kursus on last September. According to the facilitator, the budget for this year already finish and need to wait for the new budget. Try call them if the budget already approved.

I took TUS program August or September this year..attended the course of 3 days and paid 600 for it and after finishing the course they said budget finish or the loan was on hold or something like that..sucks

I talked to a staff from SME, she told me that TUS budget for 2013 already habis like Davez89 said.

2014 one need to wait till 2014.

This post has been edited by DannyMc: Dec 4 2013, 12:58 PM

yup, they didn't inform earlier before the course but after the course i was notified by the course mates lol

Yes. Actually they told me on the 2nd day. What actually happen is that some hidden hands approve loan for their crony more than the limit. I was also told that the waiting list is not that long. Try submit now. Im trying to submit by year end.