In conjunction with next month’s Deepavali celebrations, the State Government has come up with an interesting initiative namely, i-Bermusim loan scheme for the Indian micro and small entrepreneurs in Malaysia to obtain financial support for their businesses.
The State executive councillor for entrepreneur development, Y.B. Puan Hajah Rodziah Ismail has mentioned that the implementation is a collaboration with Yayasan Hijrah Selangor (Hijrah), and will be providing loans ranging from RM1,000 to RM20,000.
Additionally, the loans are intended exclusively for Indian community traders who are keen to operate their own businesses at bazaars or at homes. This state government initiative is particularly meant to lessen their burden, especially for those seeking more funds,” she said during the press conference announcing the loans.
Eligibility requirements for the applicant
- The applicant must be a Malaysian citizen who has resided in Selangor or have resided in the state for over 10 years.
- The financing period for the loans is 25 weeks or six months.
The application is open to the public from today onwards till 14th October 2022 and the forms can be collected at Hijrah’s offices or online.
“The range of loans for bazaar traders will be from RM1,000 to RM20,000, but non-bazaar traders are limited to RM5,000 only,” reported Selangorkini.
For further inquiries on your application for the special allocation assistance form, you may visit their official website HERE!