By Zareef Muzammil
SHAH ALAM, Nov 8 — Yayasan Hijrah Selangor (Hijrah) offers a rolling fund for entrepreneurs who have applied for its financial recovery plan.
Hijrah promotions manager Mohd Ridhwan Asmara said the initiative is to encourage the entrepreneurs in the state to take part in the credit recovery campaign, which was introduced in early June.
“For instance, if the entrepreneur’s current loan is a total of RM2,000, they may be offered (funds) business rolling capital up to RM5,000.
“This would mean they would have an extra RM3,000 to restart their business that was affected by the Covid-19 pandemic. This is an interesting offer and we encourage the entrepreneurs to grab the chance,” he said when contacted.
Mohd Ridhwan said the campaign would also allow entrepreneurs to restructure their loan repayment up to five years as well as renewal of the financing insurance.
Meanwhile, a total of 334 Hijrah entrepreneurs have successfully applied for the financial recovery plan as of October 31, with a total cost of RM3.18 million.
Mohd Ridhwan said the figure recorded showed an encouraging response as many traders were hit by the pandemic.
The rescheduling scheme is offered to Hijrah borrowers who are facing difficulties to repay their loans beginning June 1, and the application is open at all times.
The measure is to ease the burden of the entrepreneurs who were affected by the impact of the Covid-19 situation.
The collection officers at 20 Hijrah branches will review borrowers who have outstanding loan balances before contacting them and offer the initiative.
Previously, a total of 40,000 Hijrah borrowers were granted a six-week loan moratorium, which ended on July 31.
The initiative was introduced in the Kita Selangor Package 2.0 with a total financial implication of RM11.35 million.
