MyCreative Ventures loan
MYCREATIVE VENTURES Sdn. Bhd. is a Government investment arm launched in September 2012, when RM200 million was allocated by the 2012 Malaysian Budget to spur Malaysia’s creative industries. Support is given through loans that creative industries are not able to secure from banks.
Originally earmarked for seven industries, three more have recently been added and MyCreative Ventures now offers loans to entrepreneurs in the field of:
- Visual Arts
- Performing Arts
- Content Creation
- Fashion and Design
- Traditional and Cultural Arts
- Culinary Arts
- Creative Technology
- Creative Education
Who can apply?
The loan can only be approved for companies that meet all the following criteria:
- The company was incorporated in Malaysia
- It is majority Malaysian-owned. i.e. At least 51% Malaysian shareholder(s)
- It has a minimum RM20,000 paid up capital before the loan
- It operates in any of the 10 supported creative industries (listed above)
- Company shareholders and directors must have a reasonable credit history
All applicants will be asked to submit credit reports, a 5-year business plan, a 5-year financial projection and other relevant documents.
Ongoing. It takes approximately 3 months for the loan to go through.
Up to RM5 million
Full repayment of the loan 6% – 8% interest per annum. The funding period is up to 5 years.
Repayment schedules are worked out on a case-by-case basis depending on industry and project.
Over the past 4 years MyCreative Ventures has dispersed RM200 million in loans to 100 creative entrepreneurs.
Contacts and links