By Norrasyidah Arshad
SHAH ALAM, Aug 8 — Almost 4,500 entrepreneurs have received RM70 million in business financing from Yayasan Hijrah Selangor (Hijrah Selangor) to start their businesses, from January to July this year.
Its Corporate Division senior manager Azrul Aziz said the funding was provided through eight schemes, including i-Bisnes, Zero to Hero, Niaga Darul Ehsan (NaDI), Go Digital, i-Lestari, i-Agro, i-Bermusim, and the Selangor Indian Entrepreneur Development (Sitham) programme.
“The i-Bisnes scheme offering RM1,000 to RM50,000 in loans received the highest demand, especially from small traders.
“All the schemes are shariah-compliant loans with no elements of riba (exploitative interest) and quality products that offer low-interest rates. So it will not burden the borrowers in their repayment process,” he said.
As of now, Azrul said 80 per cent of the entrepreneurs who had borrowed from them have been consistent in repaying their loans, thus enabling Hijrah Selangor to offer the business expansion capital to others.
“Even though 20 per cent of Hijrah Selangor borrowers have problems servicing their loans, this has not financially impacted us. We have set up a credit control unit to make it easier for borrowers to repay their loans,” he said.
Traders interested in applying for Hijrah Selangor’s financing schemes can do so online at mikrokredit.selangor.gov.my.
During the tabling of the 2022 Selangor Budget on November 26, 2021, Menteri Besar Dato’ Seri Amirudin Shari announced several improvements to the Hijrah financing scheme this year, involving RM120 million in funds.
