307 micro credit applications for RM12.42 mln received

307 micro credit applications for RM12.42 mln received

KUCHING: The Sarawak Micro Credit Scheme (SKMS) under the Sarawakku Sayang Special Aid Package has received 307 applications with total loan and financing valued at about RM12.42 million so far, Deputy Chief Minister Datuk Amar Awang Tengah Ali Hasan said.

“Agrobank has received a total of 254 applications, with total financing loans of RM10.24 mln while Sarawak Economic Development (SEDC) received 53 applications, providing financing of RM2.181 mln,” said Awang Tengah, who is also International Trade and Industry, Industry Terminal and Entrepreneur Development Minister in a statement yesterday.

While expressing his relief with the positive response, he believed that the measure would help ease the burden faced by small and medium enterprises (SMEs) and micro entrepreneurs affected by the movement control order (MCO).

“We have allocated the SKMS schemes, now divided into two schemes — SKMS I and SKMS II.

“The SKMS I provides interest-free loans or financing of RM1,000 to RM10,000 to B40 entrepreneurs.

“SKMS II meanwhile will provide loans or financing of RM5,000 to RM50,000 at a four per cent interest rate, with the interest decreasing with each monthly instalment, to all micro and small entrepreneurs including non-Bumiputeras.

“Another scheme, Skim Pinjaman Industri Kecil dan Sederhana (SPIKS) to improve cash flow of SMEs, is also providing loans for many SMEs, nearly amounting to RM10 mln,” he added.

Informing that his ministry and related agencies were now working remotely, he assured that his officers would continue to update the application status.

“We are working from home as for now. Therefore, SMEs can post their further enquiries and contact us through online,” he added.

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