IPOH: Chinese New Village residents are encouraged to apply for the special loan scheme under the Housing and Local Government Ministry, says Nga Kor Ming.
The minister said there was over RM150mil offered under the Special Loan Scheme for New Village Residents (PKBC).
However, he said only RM13.5mil have been issued so far.
The loans, he said could be applied for paying lease premiums, supporting small business activities, upgrading houses, and efforts to ensure the economic growth of the villages is enhanced.
“Don’t bet on four-digit numbers, that one is difficult to win.
“That one I know they offer RM120mil, but chances are very slim, but applying for this special loan there are higher chances to get,” he told a press conference after visiting a newly built house under the ministry for a poor family at the Rimba Panjang Chinese New Village here on Saturday (Jan 25).
Nga added that those new village residents requiring such loans should take the opportunity.
He said there was still an RM144.6mil balance under this scheme available.
“Is easy to apply without any strings attached. Is easy to get RM50,000 with an interest of 2.25%.
“But those who get their loans approved must you the money for the specific purposes mentioned.
“But when you get RM50,000, use the money for the purpose one applied for and not put in the bank’s fixed deposit to earn 4% profit, as there are people who think smart,” he added.
Nga said over the past two years, under PKBC, the Micro Business Loan Scheme has successfully assisted 231 people in starting their businesses with a total loan amount of RM9.46mil.
“Meanwhile, under the Micro Business Loan Plus Scheme, a total of RM4.04mil loans to 36 applicants have been approved.
“So in total, both schemes have helped 267 applicants with a combined loan amount of RM13.5mil,” he added.
Nga said he believed that this financial support would create a significant spillover effect in economic development.
“Not only will it revitalise the economy in New Village areas, but it will also contribute substantially to the nation’s GDP growth,” he added.
