1. Who can apply?
Malaysian citizen between 21 to 40 years old. The applicant is required to be a member of KOJADI with RM110 initial shares and membership fees.
2. Purpose of micro credit?
i) For expansion of business.
ii) As start up cost of new business venture.
iii) Other purpose subject to approval of the Board from time to time (with supporting documents).
3. Tenure of the micro credit?
From 1 year to maximum 5 years. (Please refer to annex)
4. What is the loan ceiling?
RM5,000 to RM50,000.
5. What is the amount of processing fee?
Payment of loan processing fee and administration fee is 1% from the approved loan amount or a minimum of RM200 whichever is higher, will be deducted from the approved loan amount (exclusive of Good & Service Tax to be imposed w.e.f 1st April 2015)
6. What is the rate of interest chargeable in respect of the loan?
4.0% flat interest rate per annum with fixed monthly installments ( as shown in table given below )
7. How does a borrower make monthly repayment?
Payment can be made monthly at KOJADI office or to pay into a KOJADI designated account with a specific bank.
8. Must borrower provide a guarantor and what is the qualification of the guarantor?
i) Yes. Guarantor is preferably be immediate or next of kin of the family members of applicant.
ii) Guarantor must be a Malaysian citizen between 21 to 55 years old.
iii) RM20,000 or below : 1 guarantor with monthly income not less than RM3,500 or 2 guarantors with monthly income
not less than RM2,000 each.
RM20,000 & above : 2 – 3 guarantors with monthly income not less than RM3,500 each.
9. Can joint business owners apply?
Application may come from joint business owners or individuals.
(However no corporation be it a limited company or firm may apply as only individual members of KOJADI be qualified)
10. Can MCA members or single parents involve in business apply?
Yes! Extra merits will be given to MCA Members / NGO Leaders / Single Parents during credit evaluation on their application.
11. What are the application procedures?
i) Complete Micro Credit Application Form and KOJADI Membership Application Form
ii) Submit 2 certified copies of identification card of the applicant and guarantor(s).
iii) Submit 1 passport-size photograph of the applicant and guarantor(s).
iv) Submit a recent copy of the applicant’s home & office telephone, electricity & water bills.
v) A copy of the applicant’s business registration certificate
vi) Business Proposal / Management Account / P&L Statement
vii) Submit a certified copy of Applicant’s and Guarantor’s proof of income (latest Income Tax Borang B/BE or EA Form or EPF Statement)
viii) Application form preferably with endorsement by any MCA Division / Branch / Other relevant Chinese Youth Organizations.
12. Where can applicants get the application form?
Application form can be downloaded from the MCA or KOJADI Official Website at www.mca.org.my or www.kojadi.my.
13. Where the application should be submitted?
Koperasi Jayadiri Malaysia Berhad (KOJADI)
11th Floor, Wisma MCA,
163 Jalan Ampang,
50450 Kuala Lumpur. Road Map
Tel : 03 – 2161 6499
Fax : 03 – 2161 2840
Email : firstname.lastname@example.org
14. Once a borrower has paid off the loan, can he or she apply for second loan?
PDF Download: Application Form, Additional / Replacement Guarantor Appendix