RM15 million given out to small businesses for the past 3 months
Datuk Seri Idris Jusoh (centre) presenting a mock cheque to Mara Terengganu director Abdullah Muhammad (left)
during the Dynamic Small Business programme in Terengganu yesterday
KUALA TERENGGANU: MARA has disbursed RM15 million interest-free loans to small businesses over the past three months under its Dynamic Small Business (UKDinamik) programme.
Mara chairman Datuk Seri Idris Jusoh said the hassle-free application process and fortnightly repayment plan has made the programme very attractive to traders and business owners.
He said the Federal government had allocated RM50 million for UKDinamik aimed at helping small businesses through interest-free loans.
"More than 1,000 small business owners nationwide have been granted loans of up to RM10,000 each under UKDinamik."
Idris was speaking after presenting loan certificates to 130 successful UKDinamik applicants from Terengganu here yesterday.
"We are trying our level best to disburse the funds to as many individuals as possible, but we have to ensure that they are genuine business owners.
"It is up to the recipients on how to use the fund to help their business grow and MARA will not place any restrictions in this aspect."
He added that while MARA was pushing to approve applications swiftly, adequate verification procedures had been put in place to ensure the loans go to the intended group.
"Our officers will go to the applicants' business premises to verify their legitimacy."
Asked if MARA was still facing problems to get loan defaulters to pay up, Idris said there was a marked improvement in repayments after they started blacklisting defaulters.
"They (borrowers) now take the blacklisting seriously because it could affect admission of their children into any MARA school or tertiary institution."