Wee: Special financing scheme for Chinese SMEs open for registration on June 5

PUTRAJAYA: The RM50 million soft loan specifically for Chinese Small Medium Entreprise (SME) businesses will be available for application next Friday.
Minister in the Prime Minister's Department Datuk Wee Ka Siong said that the financing scheme as announced by the Prime Minister in Budget 2015 will enable the Chinese SMEs to have the necessary working capital or capital expenditure for their project financing or business expansion and operations.
"In the past, we have always received complaints from the Chinese SMEs that they have problems getting financial services for their business operations and expansion or it is time consuming and a hassle for them to get any loan from the government.
"With no financial resources as commercial banks are not willing to approve any loans for them, some of the Chinese SMEs have to resort to illegal money lenders (Ah Long) for their financial problems," he told reporters during a media briefing on the financing scheme at the Secretariat for the Advancement of Malaysian Entrepreneurs (SAME) office here today.
With a relatively low interest rate of 4%, Wee said the loan will definitely be a great help for the Chinese SMEs' financial woes, as they can expect loans of between RM50,000 to RM250,000 and a maximum repayment period of five years.
Wee said interested applicants can download the loan application form from MCA or the Kojadi website or head over to the relevant SME associations or business trade chambers to obtain the form.
The applicants will know within seven working days whether or not their loan has been approved, he added.
"However, prior to approving or rejecting any loan application, we will have a team of experts to conduct a stringent assessment on applications.
"Should there be any dissatisfied, rejected applicants, they can voice their appeal where there will be another board comprising of bankers, finance experts and other industry experts that will re-assess the documents submitted," he added.