Mara disburses RM31m in loans to 360 Terengganu entrepreneurs
KUALA TERENGGANU, Dec 28 (Bernama) -- Majlis Amanah Rakyat (Mara) disbursed almost RM31 million in loans to 360 Terengganu entrepreneurs and traders in the first 11 months of 2011.
State Mara director Abdullah Mohamad said RM21 million was channeled to 225 people through the Express Contract Financing Scheme (SPIKE) while RM9.892 million to 135 ordinary traders.
"We provide financing based on the business they're running but limited to RM500,000," he said when opening My Convenience Shop at Sultan Mahmud Airport here today.
He said the amount of repayments collected, as at November was RM15.413 million although the target was RM17.8 million, he said.
"We're sure that by end of December, the repayments collected from borrowers will increase," he said.
Meanwhile, My Convenience Shop managing director Abdul Karim Mohamad said the shop at the airport was his third outlet.
His fourth would open at Kuala Berang, Hulu Terengganu, next month.
"I thank Mara for the capital support and assistance for the expansion of my business," he said.
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