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GOPENG: More than 500 traders statewide will benefit from the micro-credit scheme for petty traders and hawkers to engage in businesses during the upcoming fasting month.

State Consumer Affairs Committee chairman Datuk Samsudin Abu Hassan said a total of RM1.533 million would be disbursed to more than 500 traders. He said each of the trader would get between RM1,000 and RM3,000, depending on the amount requested.

“The micro-credit scheme is one of several government initiatives to assist and provide opportunities to traders and petty hawkers to increase their income before the upcoming festive season.

“The micro-credit scheme can help to ease the burden of the traders, especially those planning to start their businesses during the fasting month,” Samsudin said.

He said the payback period for the loan scheme was two months after Ramadan.

“The payment can be made via weekly installments or lump sum at all Bank Rakyat branches.

“If they fail to pay up on time, their names will be blacklisted and they cannot apply for any loans in future,” he said.

Also present were the Perak Petty Hawkers Association president Datuk Omar Wahid and Bank Rakyat northern region head Rosli Rahim.

For Mohammad Zaidi Othman, 48, he said he would use the money as capital for his food business.

“At least, I can use the money in times of emergency. This is, especially so at the start of my business, where I do not expect to make much profit,” said Zaidi.

Another trader, Hamzah Shamsuddin, 63, who has been trading at the Medan Gopeng Ramadan bazaar for the past 20 years, said he would use the loan to make bulk purchases so as to enjoy getting the items at a much reduced rate.

“I want to thank the government for having come out with such a scheme and this is the first time I am benefiting from it.

“I hope that traders like me will benefit more from such schemes in future,” said Hamzah.

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