Loan scheme for Chinese new villagers
A RM100 million loan scheme for Chinese new villagers have announced by MCA today. Today, Datuk Chor Chee Heung, Minister for Housing and Local Government said “This scheme consists of three components they are financial aid to start businesses in the new village, for the payment of land premiums to authorities and the upgrading and repairs of houses.” “We treat this as a soft loan to uplift and help the lives of new villagers,” he added. The interest rate is about four per cent per annum on monthly rest.
For this initiative, The Ministry for Housing and Local Government will be working with Bank Simpanan Nasional. They urged new village applicants to get forms from village officers, or any branches and BSN officers. Applicants must go to the state’s main BSN branch to submit. In the peninsular there are 45 main branches. Loan approval usually takes between seven to 21 days. The loan per applicant is between RM1, 000 and RM10, 000.
Chor, who is also MP for Alor Setar said “If it is above RM10, 000 villagers still can borrow, but there is seldom the extension of lease exceeds RM10, 000.” Applicants must be new village house owners between age of 21 and 63, he added.
