Under the poverty eradication program for the Indian community, the government has allocated RM 3 million for small and medium enterprises to be given out as loans. This opportunity is made available for young Indians between the ages of 18 – 40 years old. Tekun Nasional with Yayasan Strategik Sosial has formed a committee to implement and monitor the progress and process of this initiative.
Young people who are keen to start a new business can apply for this loan which is ranges from RM 500 – RM 10,000. Tekun Nasional charges only 4% interest with additional 5% which is deducted from the loan to encourage borrowers to save. The amount saved will be returned back when the borrower settles the loan.
In order for the loan to be approved, applicants need to provide business registration or license with current or savings accounts. Even those who are black listed can apply. This is an opportunity for Indian youths to increase their income and wealth by becoming an entrepreneur.On 10th August 2008, the first briefing session was held in Ipoh. Nearly 75 youths took part in the session. 70% of youths are already in the business and the balance 30% have indicated a keen interest to venture into business. The session had a motivational speaker challenging the participants to have dreams and to be committed to the fulfillment of the dream to be a successful entrepreneur with high integrity and honesty.
Mr. Barmasevam explained on the loan procedures and the repayment methods. During the question answer session, the participants requested YSS to set up a secretariat in Perak to make the forms available and provide further explanation on the loan. This will enable the smooth sailing of the application process.
It is our target to process at least 100 applicants from Perak within the next 2 months. It is important to realize that this opportunity is provided to improve the lives of the Indians and also in order to increase the equity share of the Indian community. Thus the loan given out should not be misused but be utilized it for a good purpose.
Source : www.yss98.com