IPOH: Those with the Yayasan Bina Upaya Darul Ridzuan (YBUDR) micro credit scheme should not abuse the facilities provided to resolve their personal loans.
Mentri Besar Datuk Seri Dr Zambry Abd Kadir (pix) who was responsible in setting up YBUDR said the objective of the scheme is to bring the eligible applicants from the poverty bracket by engaging them in businesses.
“The applicants should get loans to venture into businesses or expand their present enterprises,” he told reporters after a working visit to YBUDR here today.
“We have come across applicants who applied for loans to settle payments with Ah long or pay their instalment such as for vehicles or property. However, the number of those who abuse the scheme is small,” said Zambry.
He added that out of every 10 entrepreneurs, four are young people who are bachelors who have succeeded in their ventures.
He said their profits which initially started with just RM500 and RM1,000 went up to between RM6,000 and RM9,000.
These people are involved in various businesses including selling beauty products, food, fruits, handphones, clothes, laundry, wedding dresses and the famed Labu Sayong.
Earlier 10 entrepreneurs met Zambry to share their success story.
YBUDR was established seven years ago to assist the poor in building and repairing houses, distribution of food boxes and giving loans for business ventures. This is to empower applicants to improve their socio economic status.