Apart from the Sara loan scheme, two other loan schemes have been in the news – the NFC loan and the MCA’s microcredit loan scheme.
Let’s take a look at the details.
Loan from the government for NFC signed in 2007 (The Star)
Total loan: RM250m
Repayment period: 20 years
Grace period for repayments: 3 years
(First drawdown: RM7m in January 2008; therefore, first repayment will be in 2012)
Interest payable: 2% p.a.
MCA’s microcredit scheme to help aspiring entrepreneurs (The Star)
Loan amount for each applicant: RM20000
Repayment period: 5 years
Interest payable: 7% p.a.
What can you say? Me, I think I should be in the ‘cow’ business.