SAGS are a Guarantee facility provided by CGC for working capital financing, project financing and capital expenditure.
Shall NOT be used to refinance existing credit facilities.
Objective
- The objective of the Scheme is to ensure that viable SMEs adversely impacted by the current economic slowdown continue to have access to adequate financing.
- With the guarantee cover, it is envisaged that access to financing to viable SMEs will be enhanced and at a lower cost.
Eligible Borrowers
- Businesses classified as an SME; and
- Malaysian-owned SMEs with at least 51% shareholding; and
- SMEs with shareholders fund not more than 30million; and
- Non-GLC SME or public listed companies (PLCs) (i.e. not listed on BURSA SAHAM); and
- Affected SMEs due to the current economic slowdown
Eligible Credit Facilities
- For financing working capital, project financing and capital expenditure.
- NOT for refinancing existing credit facilities
Financing Limit
- Maximum aggregate financing of RM500, 000 per SME.
- No minimum amount is set.
Financing Period
Guarantee Cover
- Under this scheme, CGC will provide 80% guarantee cover on principal and normal interest.
Guarantee Fees
Application Deadline
- Open from 3rd February 2009 till 31 December 2009 or upon approval of financing up to RM2.0 billion, whichever is earlier.
