Borrow up to 300 Million MMK
SME JICA TSL Emergency Loan is the special financing scheme available to those Myanmar SMEs economically affected by Covid-19, supported through CB Bank, by the Japan International Cooperation Agency (JICA).
- Borrow up to 300 Million MMK
- Repayment period of up to 5 years
- Interest rate from 5.5% to 10%
- Eligible for SMEs which are obliged with Small and Medium Enterprises Development Law (2015) and must be truly affected by Covid-19.
- Interest rate – 5.5% p.a. ~ 10% p.a.
- Applicant must fulfill underlying SME JICA TSL Emergency Loan criteria.
- Must be obliged with Small and Medium Enterprises Development Law (2015) and must be truly affected by Covid-19.
- Must be able to run business after SME JICA TSL Emergency Loan powered by JICA is received.
- Must have a loan repayment capacity.
- Must have a valid business license.
- Borrower is required to demonstrate at least 20% reduction in Revenue due to Covid-19 compared to previous financial year (or) if the business started less than one year, borrower is required to demonstrate at least 20% reduction in Revenue due to Covid-19 compared to previous quarter.
- Existing JICA Two Step Loan customers are also eligible to apply SME JICA TSL Emergency Loan.
- Must be able to present Emergency Business Plan to apply for the JICA TSL Emergency Loan.
- JICA TSL Emergency Loan could be used to finance fixed capital, or if necessary, could be used up to 100% for working capital.
- There will be 6 months grace period for loan approved with tenor up to 3 years and 1 year grace period for loan approved with tenor between 3 to 5 years.
- Grace period is only eligible for Principal repayment. You will still have to serve the interest repayment according to the repayment schedule.
- SMEs who can offer collateral to the bank will enjoy reasonable interest rate from 5.5% p.a. and the bank will charge up to 10% p.a. for the relaxation of collateral.
Based on business’s condition, collateral and risk level, interest rate is from 5.5% to 10% per annum. Loan tenor is minimum 2 years to maximum 5 years.
There is no template for Emergency Business Plan.
Yes, you can apply Emergency Loan for working capital usage and can use on it 100%.
For those business affected by Covid-19 are eligible to apply the Emergency Loan for capital investment.
Yes, you can apply for Emergency Loan up to 300 million MMK again.
No, SMEs are eligible to apply for Emergency Loan once.
Emergency Loan is for businesses that sales went down by 20% during Covid-19 period. But if you do not meet criteria, you can apply other loans.
Grace period is only eligible for Principal repayment. You will still have to serve the interest repayment according to the repayment schedule.
For emergency loan,
Under 3 years loan tenor, grace period is 6 months
Between 3-5 years loan tenor, grace period is 1 years