83 apply for Youth Dept soft loans

KUANTAN: The state Youth and Sports Department has received 83 applications for soft loans.
Its director Tuan Abdul Rahim Tuan Bahru said that 51 applications for RM1.7mil in loans were approved.
Chiew: Only five nonbumiputras had submitted applications.
He said the applications came under the agriculture and entrepreneur schemes.
“Anyone regardless of race and political affiliation can apply. The main condition is that the funds must be used for starting projects or expanding existing businesses,” he said after a dialogue with Kuantan MCA Youth division chief Andy Chiew here recently.
Tuan Abdul Rahim said that those who applied must be aged between 18 to 40 years and loans of RM15,001 and above must have guarantors.
He said they could apply for loans of RM5,000 to RM50,000 at 4% interest.
“The department and the banks will decide on the applicants’ status,” he said, adding that the repayment period was fixed at a maximum of seven years.
Two banks involved in the scheme were Bank Rakyat and Agro Bank.
Tuan Abdul Rahim: Anyone regardless of race and political affiliation can apply.
Tuan Abdul Rahim said the applicants could bring their working papers and fill in an application form.
Meanwhile, Chiew said that only five non-bumiputras had submitted applications for the loans.
“I believe the low number of applicants is due to many not knowing of the schemes.
“I urge those interested to see me at Wisma MCA to get the details,” he said.
Chiew, who is also the MCA Youth SME development bureau chief, said he was compiling a list of all youth organisations in the country.
Upon completion, he said he would embark on a nationwide roadshow to create an awareness on loans available to all Malaysians to start businesses.
For more information on the schemes, call the department at 09-516 2272.