Micro-financing scheme for hawkers, small traders now open for application, says Noh Omar

TEMERLOH: Applications for the “Micro Financing Programme for Hawkers and Small Traders", involving a total allocation of RM48.52mil are now open, says Entrepreneur and Cooperative Development Minister Tan Sri Noh Omar (pic).

He said those interested could apply at Bank Rakyat, adding that among the relaxed conditions was setting aside the processes involving credit reporting agency CTOS and the Central Credit Reference Information System (CCRIS) to help the parties involved to revive their businesses.

“This form of financing has no interest and comes with a one-year moratorium, with informal business owners allowed to borrow RM10,000 while for micro-businesses, it is up to RM50,000.

“Applications will also be approved in a short period of time, and if possible, we will set the processing period to within a week,” he told reporters after presenting the Keluarga Malaysia (Malaysian Family) Flood Relief Grant (BBKM) for the state of Pahang at Dewan Tun Razak here, Tuesday (March 22).

Also present were State Felda, Cooperatives, Entrepreneurs and Consumer Affairs Committee chairman Datuk Nazri Ngah and State Tourism, Culture, Environment, Plantation and Commodities Committee chairman Datuk Seri Mohd Sharkar Shamsudin.

On Dec 3 last year, Prime Minister Datuk Seri Ismail Sabri Yaakob while officiating the national-level Hawkers and Small Traders Day Celebration announced an allocation of RM48.52mil for the programme as a sign of the government’s continued commitment to looking after the welfare of the group.

According to the Prime Minister, the funds applied for can be used for business revival purposes such as working capital, purchase of equipment or hardware, or making payments for salary, rental and utility bills, among others.

Commenting on BBKM, Noh said his ministry through Tekun Nasional had channelled grants worth RM10.2mil in Pahang to 3,400 informal and micro entrepreneurs affected by the floods.

Each of them received a one-off grant amounting to RM3,000.

In total, Noh said RM50mil had been allocated for the assistance, where 16,058 applications had been received nationwide so far, with 9,688 applications approved and 6,370 applications still being evaluated. – Bernama