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Micro credit schemes

1MCA Micro Credit Loan Scheme for Youth

The details of the framework are as follows:

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; a stamp duty fees is 0.5% from the approved loan amount and additional RM10 for supplementary documents. All fees will be deducted from the approved loan amount.

* additional 6% of Goods & Services Tax to be imposed w.e.f 1 st 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 who are member of KOJADI.

(However no corporation be it a limited company or firm may apply as only individual members of KOJADI are eligible)

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 and submit it together with the RM110 initial shares and membership fees.

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) Applicant ‘s latest six months company bank statement

viii)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)

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

12.Where and how to obtain the micro credit and KOJADI membership application form?

Application form for both Micro Credit and KOJADI membership can be downloaded from the MCA or KOJADI Official Website at or

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

Category: Payday loans

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