PENANG Development Corporation (PDC) today announced the return of its targeted loan scheme, called the Skim Pinjaman Harapan (SPH) 2.0 to assist micro-entrepreneurs in their businesses in Penang.
In collaboration with the Penang government, SPH, which was formed in 2009, has so far benefited 3,840 individuals from various business backgrounds across all five districts in the state.
Chief Minister Chow Kon Yeow, who was present to officiate the announcement ceremony, congratulated PDC for its efforts, which most importantly include the corporation’s decision to provide higher loans this year.
“I understand there will be an increase in the loans provided – from between RM3,000 and RM25,000 previously, to the range of RM5,000 to RM50,000 this year.
“It is hoped that PDC’s decision to provide higher loans will benefit eligible recipients to successfully run their businesses.
“I am made to understand that there are 12 recipients for the first phase today, and the total amount allocated is RM235,000.
“The state government wishes them the very best in their businesses and hopes they will cooperate and be consistent with their repayments to PDC.
“This is to ensure future recipients can also enjoy the benefits,” Chow said in his speech during the announcement ceremony at PDC in Bayan Baru today.
The types of businesses that are eligible to apply for the loan include food and beverage outlets, spas, computer repair shops, morning and night market operators, tuition centres and others.
For more details, check out PDC’s website at www.pdc.gov.my, call 04-634 0111 or visit the office in Bayan Baru.
Also present during the ceremony were Deputy Chief Minister I Datuk Ahmad Zakiyuddin Abdul Rahman, Deputy Chief Minister II Prof Dr P. Ramasamy and PDC chief executive officer Datuk Aziz Bakar.
Story by Kevin Vimal
Pix by Alissala Thian
Video by Noor Siti Nabilah Noorazis