Story by Chan Lilian
Pix by Alissala Thian
PENANG’s micro-credit scheme has produced many motivating stories of how pasar malam traders, hawkers and other small businesses flourish with a little bit of loan injection.
Many of them began with a small interest-free loan of RM3,000 from the Penang Development Corporation (PDC) which they repaid weekly.
After fully paying up the RM3,000, some went on to borrow another RM5,000 to RM8,000 – all due to their good track record.
G. Mohana Dass was featured by Buletin Mutiara two years ago when he received his first loan of RM3,000.
Recently, on June 24, he was back to take another loan of RM8,000.
“I paid back the RM3,000 in a year but this time, I will need two years to repay the loan. I am going to use the money to buy new machines for my car accessories business,” Mohana told Buletin Mutiara.
One of the 82 micro-credit recipients has even taken his third loan.
“The first time I got RM3,000, then, RM8,000 and this time, I am getting RM10,000. I will use the money to increase my stock for my water filter business,” said Goh Eng Keong from Relau.
On hand to give away the cheques from PDC was Deputy Chief Minister 1 Datuk Mohd. Rashid Hasnon who holds the portfolio of Industrial Development and International Trade, Co-operatives & Community Relations and Enterprenuer Development.
“I place high hopes in all of you to make good use of the loan and work hard to increase your income, be prudent and save money and develop your business to enhance your life. Let’s give our commitment to succeed and enjoy the development of Penang together,”he said in his speech.
Till now, a total of RM7.846 million has been distributed to 1,883 borrowers.
Mohd. Rashid also requested the mainstream media to help promote and bring awareness to Penangites about this micro-credit scheme so that more people from across the board will know and benefit from it.
Heading: PERCENTAGE OF BORROWERS UNDER THE SCHEME
RACE NO
Malays – 1,580 (83.9%)
Chinese – 147 (7.8%)
Indians – 156 (8.3%)