What Is It

The Skim Pembiayaan Kontrak Ekspres (SPIKE) contract financing scheme under MARA aims to provide working capital for Bumiputera entrepreneurs to execute supply, services, or construction contracts awarded by the government, statutory bodies, or reputable private companies.

Who Is Eligible

To be eligible, applicants must be a Bumiputera entrepreneur, aged 18 to 60, with a business registered with SSM and CIDB (for construction) or Ministry of Finance (for supply/services). They must also possess a valid, official Letter of Award (LA/LOA) for a contract.

Required Documents

  • Letter of Award (LA/LOA): A valid, official letter of award for a contract.
  • Contract Bills of Quantities: Detailed breakdown of the contract's scope and value.
  • SSM Profile: Business registration profile from the Companies Commission of Malaysia.
  • Audited Accounts: Financial statements audited by a certified public accountant.
  • Bank Statements: Recent bank statements to demonstrate financial stability.

    • Step-by-Step Procedure

    1. Initial Application: Visit the state or district MARA office. 2. Submission of Documents: Submit the SPIKE application form along with the required documents. 3. Verification and Disbursement: MARA verifies the project and contract terms before disbursement, which takes 2-4 weeks.

    Cost & Processing Time

    The repayment tenure is tied to the contract duration and billing milestones. The financing limit is up to RM1 million, depending on the contract value.

    Where to Apply

    Applications can be made at the state or district MARA office.

    Important Notes

    The SPIKE scheme is designed to support Bumiputera entrepreneurs in executing government, statutory, or private contracts.