Kota Kinabalu: Entrepreneurs and cooperatives affected by floods and landslides can apply for loan restructuring or a repayment deferment up to six months, said Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick.
The Penampang Member of Parliament said the existing policy is implemented nationwide whenever a district or state is declared to be affected by disasters.
Ewon said his Ministry has seven financing agencies - Bank Rakyat, SME Bank, Tekun Nasional, Amanah Ikhtiar Malaysia (AIM), Cooperatives Commission of Malaysia (SKM), Perbadanan Nasional Berhad (Pernas) and SME Corp Malaysia.
“The affected entrepreneurs or cooperatives can apply for a repayment deferment, provided they make a police report and inform their respective financing agencies,” he said.
He added that the borrowers must then produce the police report and confirmation that their business premises are affected by disasters as proof for applying for the deferment to their respective agencies.
He said this policy has been used in Sabah, particularly in the flood-hit districts, including Penampang, Papar, Beaufort and Sipitang.
“We want to help and ensure entrepreneurs and cooperatives have the space to bounce back after facing losses due to disasters,” he added.
