Source from (The Star Online): http://thestar.com.my/news/story.asp?file=/2013/4/16/nation/12977193&sec=nation
Published: April 16, 2013
Providing a lifeline: 1MCA Foundation south zone chief
Datuk Dr Lee Hong Tee (right) handing over a mock RM20,000
cheque under the 1MCA Micro Credit Loan Scheme for Youth
to a recipient in Segamat.
“We have also gained a steady crowd of regular customers and can sell more than double the 100 plates we used to sell previously,” said the mother of two at her outlet in Taman Daya here.
Tan started the business with her husband 10 years ago, operating a stall at the corner of a restaurant. However, thanks to the 1MCA Micro Credit Loan Scheme for Youth, they managed to move out of the restaurant.
With the RM20,000 loan from the scheme and their own savings, they realised their dream of setting up their own shop.
For ladies' accessories retailer Alice Goh, 31, the scheme acted as an encouragement for women to venture into entrepreneurship.
Goh and her husband had decided to set up their own business of selling handbags at a shopping centre three years ago.
Unfortunately, they found it tough to rake in enough profits with only RM1,000 as capital.
“However, after hearing about the scheme from a friend, we managed to get a RM20,000 loan and now we have outlets in three shopping malls, with five employees working for us,” she said.
Another loan recipient, coffee powder supplier Wong Yoon Hung, 38, said the most appealing part of the scheme was the low 4% interest.
“After reading about the loan in the newspapers, I immediately signed up for it. It only took a couple of months to be approved,” said Wong, who distributes about 10 types of coffee powder to Johor, Kuala Lumpur and Sabah.
The scheme, launched early last year with a maximum of RM20,000 for each loan, is open to people of all races aged between 21 and 45.
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