Helping hand for businesses


Big haul: Lim (left) inspecting fishes with a worker at his fish farm in Pontian, Johor.

KUALA LUMPUR: Fish farm operator Lim Hong Peng had to ditch his expansion plans when he found that banks were reluctant to support his business venture but his fortunes turned around when he learnt about the SME soft loan offered by Koperasi Jayadiri Malaysia Berhad (Kojadi).

Lim recounted that marine aquaculture was considered a high-risk investment then.

“It was disappointing and I thought I would not have the chance to expand my business.

“However, I learnt about the Kojadi SME soft loan from the SME Association of South Johor founder Teh Kee Sin and I jumped at the opportunity,” he said.

Lim, 37, from Kukup, a fishing village in Pontian, Johor, said he was grateful for the timely financial assistance from Kojadi, which helped him expand his business and gradually upgrade his traditional fish farms to become bigger and better.

“My first loan in 2017 was RM50,000. It was a trial period, but Kojadi allowed me to increase my loan amount after six months,” he said.

Lim subsequently secured two more loans of RM100,000 each to expand his business over the years.

Expressing his gratitude for the assistance, Lim noted his younger sister also benefited from the Kojadi education loan, which enabled her to further her studies in Taiwan.

“I always promote Kojadi loans to my friends and family. This is a good initiative and I hope more people can benefit from it,” said the Kojadi member when met during the cooperative’s 42nd annual general meeting at Wisma MCA yesterday.

Another businessman, Foo Wen Jueen, 38, expanded his food business with a Kojadi soft loan in 2015 after starting out selling homemade steamed buns at a small stall.

Foo, who learnt about Kojadi loans through MCA, borrowed RM20,000 and repaid it by 2020.

He praised the lower interest rate of 4% compared with banks’, adding he would consider applying for more loans in the future to further grow his business.

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