Business owners and petty traders affected by the flood disasters which have struck at least 6 states in the country have some respite as the Government will allow these groups to apply for loan deferment for up to six months.
Those who have outstanding loans with the Ministry of Entrepreneur Development and Cooperatives run Tekun Nasional and Amanah Ikhtiar Malaysia can seek for loan deferment while they get back on their feet.
Minister Ewon Benedick said the deferment of agency loans under his ministry is an important step to help entrepreneurs revive their affected businesses.
“Borrowers affected by the floods are in dire need of food, sanitation and other items. At the ministry, we are putting loan payments on hold so that they can also take care of disaster-related matters.
“It is the policy of our ministry to help the affected entrepreneurs by deferring the repayment of these loans,” he told reporters at the ministry’s Christmas Open Day today.
Ewon said his ministry would soon set up a disaster fund for affected cooperatives through the Cooperative Commission to assist entrepreneurs.
