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Malaysia's government is putting its money where its mouth is, offering up to $1 million in grants and zero-interest loans to organizations that make a positive social or environmental impact.
The Hasanah Social Enterprise Fund 2023 (HSEF2023), announced by the country's Ministry of Finance and Yayasan Hasanahan Islamic charityis open to all Malaysian businesses registered in Peninsular Malaysia, Sabah, or Sarawak that aim to grow its commercial as well as social and environmental goals, reports the Straits Times.
Last year, the fund gave out more than $4 million to 32 entities, and this year it's looking to expand to include all types of " scalable enterprises that meet social and/or environmental objectives," says Yayasan Hasanah in a statement.
There are three categories: "Seeding Path," which provides funding of up to $1 million to support the developmental purposes of the recipient organization; "Growth & Scale Path," which provides funding up to $500,000 in the form of a zero-interest rate loan, after which the proposed repayment amount and period are evaluated based on the recipient's performance in meeting financial and impact targets; and the final category, which offers loans up to $750,000 and zero-interest loans, after which the proposed repayment amount and period
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