One of the best news that was delivered by Mr. Muhammad Razali of Bank Pertanian Malaysia, Luala Lumpur during the Swiftlet Farming Seminar held at Seremban, Negeri 9 on January 24th 2008 is a special fund for Swiftlet Farming.
This was to support the Swiftlet Industries and encourangements to all Birdhouse Farmers.
Yes, if you are eligible, the Bank can provide up to RM 5 million at 3.75% interest per year. For 9th Malaysia plan they only have a total of 30 million allocation. If this is totally taken up, they will arrange from other unused funds.
A very encouraging news and for those who have land and short of fund, go and see the nearest Bank Pertanian Malaysia.
The fund is available under a Special Fund allocated for Malaysian or Malaysian Companies under Skim Kredit Pertanian Bukan Makanan.
To qualify, you must be Malaysian citizen or a company (fully owned or JV). For JV with foreigners, 51% must be Malaysian owned.
The money can be used for capital and operating expenses or for swiftlets farming expansion of business. You are not allowed to use the money to buy over an existing bird farm or company's shares.
From what you obtained, 30% can be used to buy the land to built the birdhouse.
Interest rate is 3.75% per year and paid back period is not more then 120 months inclusive of gestation period of not more then 12 months.
I hope this special news is attractive to everybody who have no idea where to get the funding.
More information can be obtained from Bank Pertanian Malaysia or Call Mr. Harry
4 comments:
Hello Harry,
Talking about the interest charge by bank pertanian ,is it 3.75% or 3.75% plus their Kadar Asas Berian Pinjaman (KABP) 6.75% and that means 10.5%. High rate lah.
CF,
As far as I can remember the rate mentioned is a flat rate and not plus the base landing rate.
Infact the paper given indicated as "Kadar Keuntungan" and not interest. If U need confirmation please call Bank Pertanian nearest to U for a better answer.
Hi Harry,
I happened to see your blog on the loan from Bank Pertaninan Malaysia (BPM) at 3.75% for loan up to RM5 million.
Thus, I would like to check with you on the following, if you happened to have such information: -
- how does BPM determine the amount of loan to be given out to me if I am purchasing a land (RM70,000) to build a birdhouse (RM330,000)?
Ki
Vdeon,
As far as I can remember, if U are a new birdhouse owner, U can qualify only 90% of the loan applied. If U are expanding your current birdhouse operation then U can get 100% loan.
Assumming U wanted to apply for a loan of RM300K using a piece of land as a collectral, if U are new then you will be entitled for RM270K. If U are expanding, then U can get RM 300K. The amount that U can use to buy the land is 30% of the loan approved. If 270K U can buy the land at 30% x 270k = 81K. For 300K you can use 30% X RM 300K = 90K.
Remember all loan have to be collectral with an asset belongs to U our a third party. The value of these assets must be equals to the amount to be borrowed....
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