By Sofia Nasir
SHAH ALAM, Sept 12 — The State Government will introduce the inaugural i-Bermusim loan scheme aimed at Indian entrepreneurs, in conjunction with Deepavali next month.
State executive councillor for entrepreneur development Rodziah Ismail said the scheme, implemented with collaboration from Yayasan Hijrah Selangor (Hijrah), will provide loans ranging from RM1,000 to RM20,000.
“The loans are specifically for traders from the Indian community, who want to run their own businesses at the Deepavali bazaars or at home.
“This state government initiative is particularly meant to reduce their burden, especially for those seeking additional capital,” she said during the press conference announcing the loans, earlier today.
Rodziah added that Deepavali i-Bermusim applicants must be Selangor residents or have resided in the state for over 10 years. The financing period for the loans is 25 weeks or six months.
The application period opens today until October 14, with the forms obtainable at Hijrah’s offices or online.
“For bazaar traders, loans of RM1,000 to RM20,000 are provided, but non-bazaar traders are limited to RM5,000 only,” she said.
The i-Bermusim loan scheme was first introduced at the start of the year, to mark the arrival of Ramadan and the month of Syawal, as well as the fruit season.
During the presentation of the 2022 Selangor Budget on November 26 last year, Menteri Besar Dato’ Seri Amirudin Shari said several improvements will be made to the existing Hijrah financing schemes.
He announced a RM120 million fund to finance entrepreneurs, alongside the creation of a new scheme that will provide loans of up to RM100,000 for business expansions.