What is Sports Funding Scheme?
- Sports Funding Scheme is a microfinancing scheme for Bumiputera and Indian entrepreneurs who are operators of sports facilities.
- The amount of financing offered is RM1,000 to RM 100,000.
- Financing repayment period ranges from 1 year to 10 years.
- The rate charged is 4% per annum.
Who is eligible to apply for Sports Funding Scheme?
- Micro entrepreneurs who meet the criteria below are eligible to apply:
- Malaysian citizen;
- Bumiputera or Indian;
- Aged 18-60 years;
- Involved directly, or part-time in the business conducted;
- Have a valid SSM registration or Business License with the Local Authority (PBT) or a document validating their business from any Penghulu, Tok Batin, Tuai Rumah, or Head of the Local Community;
- Have a specific place of business or a mobile business;
- Free from bankruptcy action;
- 100% Bumiputera or Indian owned company;
- Existing business financing does not exceed RM100,000;
- The company's Paid-up Capital Limit does not exceed RM300,000.
How to apply for Sports Funding Scheme?
- The entrepreneur can submit the application by:
- Visiting the nearest TEKUN branch or;
- Visiting the TEKUN Official Website