RM100m in micro-credit for Indians http:\/\/www.nst.com.my\/NST\/Article\/vArt?did=20070409075324
\n2007\/04\/09
\nSUNGAI SIPUT: A micro-credit scheme to create “a new community of Malaysian Indian entrepreneurs” is in the pipeline, MIC president Datuk Seri S. Samy Vellu said yesterday.
\nThe party is in discussion with the government to set up a RM100 million fund which will be used to provide financial assistance to at least 4,000 Indians to start small businesses.
\nSamy Vellu said feedback received from meetings held between the party’s representatives and the Indian community in at least 12 states showed that a large number of Indians were interested in becoming entrepreneurs.
\n“Some of them already have business experience while others are just starting. But, they don’t have access to low-interest capital to allow them to expand their businesses,” he said after opening the 61st Perak MIC convention here.
\nHe said many had gone into business by borrowing from private sources but failed to nurture their ventures as they had to pay high interest on their loans.
\n He said businesses which had been identified for eligibility under the special micro-credit scheme included food, transportation, tailoring, laundry, catering and vendor.
\nSamy Vellu, however, added that a special monitoring committee would be set up to check on the progress of the entrepreneurs provided with loans.
\n“In this way, the party hopes to assist the entrepreneurs to raise their sales figure to RM250,000 per year or about RM20,000 per month compared to about RM50,000 per year they are earning annually now,” he said.
\nIn the previous micro-credit scheme launched by the government which was disbursed through Bank Pertanian Malaysia and Bank Simpanan Nasional, Samy Vellu said 4,000 Indians were given loans totalling RM40 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
RM100m in micro-credit for Indians http:\/\/www.nst.com.my\/NST\/Article\/vArt?did=20070409075324 2007\/04\/09 SUNGAI SIPUT: A micro-credit scheme to create “a new community of Malaysian Indian entrepreneurs” is in the pipeline, MIC president Datuk Seri S. Samy Vellu said yesterday. The party is in discussion with the government to set up a RM100 million fund which will be used to provide […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[24,148,225],"class_list":["post-100","post","type-post","status-publish","format-standard","hentry","category-borninmalaysia","tag-mic","tag-perak","tag-politicians"],"_links":{"self":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/comments?post=100"}],"version-history":[{"count":0,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/posts\/100\/revisions"}],"wp:attachment":[{"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/media?parent=100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/categories?post=100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poobalan.com\/blog\/wp-json\/wp\/v2\/tags?post=100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}