1. Who can apply?

Malaysian citizen over age 21 to 45 years. The applicant is required to be a member of KOJADI with RM110 initial shares and Membership entrance fees.

2. Purpose of micro credit?

i) For expansion of business.

ii) As start up cost of new business venture.

3. Tenure of the micro credit?

From 1 year to maximum 5 years.

4. What is the loan ceiling?

Maximum of RM20,000.

5. What is the amount of processing fee?

Payment of loan processing fees RM200.00 will be deducted from the approved loan

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 aged between 21 to 55 years

iii) 1 guarantor with monthly income not less than RM2,500 or 2 guarantors with monthly income not less than RM1,500 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 marks will be given to MCA Members / NGO Leaders / Single Parents during credit evaluation on their application.

11. What are the application procedures?

Complete Micro Credit Application Form and KOJADI Membership Application Form

ii)    Submit 2 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)  Submit a copy of Guarantor’s proof of income (latest Income Tax Borang B/BE or EA Form or EPF Statement).

vii)  Application form preferably with endorsement by any MCA Division / Branch / Other relevant Chinese Youth Organizations.

12. Can applicants already in the “blacklist” of CTOS or CCRIS still apply for the micro credit loan?

Yes. However their credit risk rating shall be further assessed by the approving committee. Undischarged bankrupts will not be considered.

13. 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

14. 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  : microcredit@kojadi.com.my

15. Once a borrower has paid off the loan, can he or she apply for second loan?

Yes.

ANNEX

PDF Download: Application Form, Additional / Replacement Guarantor Appendix