In this article
  • Malaysian Prime Minister Najib Razak has just recently announced a fund of RM25 million that will be made available to young Chinese entrepreneurs in Malaysia through the E-Commerce Micro Credit scheme.
  • The scheme aims to help young Chinese entrepreneurs and SMEs stay current and competitive amid the fast-changing times, and improve the living standards from an economic and lifestyle standpoint.

On Sunday, the Chinese entrepreneur community in Malaysia was offered a helping hand as Prime Minister Najib Razak announced a fund worth RM25 million that would be made available to young Chinese entrepreneurs between the ages of 18 to 45.

The RM25 million will be distributed in the form of loans to relevant applicants through the E-Commerce Micro Credit scheme that was launched in collaboration with the Malaysian Chinese Women Entrepreneurs Foundation (MCWEF)’s E-commerce division.

“I urge the Chinese youth as well as SMEs to take this golden opportunity to make your own digital transformation a success,” PM Najib said during the launch event.

He also said that the scheme would serve to achieve fast results in three key areas, namely the nurturing of ‘techno-preneurship’ among young entrepreneurs, the improvement of living standards for youth in regards to income and quality of life, and ensuring that traditional SMEs remain competitive as rural Malaysian products go global.

With this being a great opportunity for Chinese businesses and SMEs to attain some financial help, here are some of the things you need to know if you’re interested in getting a loan through the scheme, with details as provided by the MCWEF.

1. How does the loan work?

Through the scheme, applicants can apply for a loan with the minimum amount being RM5,000 and the maximum being RM30,000.

This can be paid back over a period that corresponds with the original loan amount, starting with a period of two years. An interest rate of 4% per annum is applicable across the board, with repayments done through monthly instalments.

Here’s a breakdown of the repayment time frames as officially stated:

Loan Amount

Repayment Period

Instalment (Monthly)


2 years



3 years



4 years



5 years



5 years



6 years


It’s also worth noting that applicants who have successfully repaid their loans can reapply for the scheme providing they have maintained an acceptable repayment track record.

2. Who can apply?

The E-Commerce Micro Credit scheme is available only for entrepreneurs based in Malaysia who are of Chinese ethnicity between the ages of 18 to 45.

Interested applicants will need to note that loans provided through this scheme will only be considered for the purpose of the expansion of an online business or for the starting up of a new online business.

Applicants will need to apply as individuals, and can opt to have a guarantor who is preferably an immediate family member or related by blood (must be aged between 18 to 55 years).

It’s also important to note that individuals with a criminal or bankruptcy record will not be allowed to apply, but those with a history of unpaid credit will be considered on a case-by-case basis.

3. What do I need to apply?

Interested applicants will be required to fill up a form such as the one that can be obtained from MWCEF, and must present other relevant documents together with the form such as:

  • An original Identification Card of both the applicant and the guarantor.
  • A photograph of the applicant and the guarantor.
  • Recent copies of the applicant’s home electricity and water bills.
  • A copy of the applicant’s business registration certificate along with information about the business’ website and social media channels.
  • A simple business plan and proposal that can be written in English, Chinese, or Bahasa Malaysia.
  • Income statements for the previous three months along with the latest KWSP statement for both the applicant and guarantor.
  • A copy of From J/Form BE/Form B for the guarantor, if applicable.
  • A bank statement for the previous three months or an SSM statement if both the applicant or guarantor already own businesses.

Having prepared all the relevant documents, applications can be submitted directly to the MCWEF office. The time frame for the application process may vary from case to case.

  • If you’re interested in applying for a loan through the scheme, you can download the application form here, or check our the information page on MWCEF’s website.

Feature Image Credit: Wikimedia Commons

Subscribe to our newsletter

Stay updated with Vulcan Post weekly curated news and updates.


Vulcan Post aims to be the knowledge hub of Singapore and Malaysia.

© 2021 GRVTY Media Pte. Ltd.
(UEN 201431998C.)

Vulcan Post aims to be the knowledge hub of Singapore and Malaysia.

© 2021 GRVTY Media Pte. Ltd.
(UEN 201431998C.)