Tekun Nasional has disbursed RM36 Million in financing to about 1,500 entrepreneurs in Negeri Sembilan as of June this year, according to Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong.
Speaking recently, Sim said that RM540 million has been disbursed to 25,600 entrepreneurs during the same period. He also said Tekun, which was established 30 years ago played a important role in helping local entrepreneurs grow their businesses.
However, he added that any weakness or gaps in the financing process should continue to be improved based on the real experiences of entrepreneurs.
To improve the application process, Sim said he has set a target for Tekun financing application of RM100,000 and below to receive a decision within 7 days, whether the application is approved or rejected. For micro-financing of RM20,000 and below, the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) is working on providing decisions within 24 hours.
Sim recently attended a programme with Tekun entrepreneurs in Seremban, where he met entrepreneurs and gathered feedback on their experiences in applying for, receiving and repaying Tekun financing. He said speeding up the approval process should also be matched with quicker fund disbursement so entrepreneurs can use the financing without unnecessary delays.
Sim also stressed that entrepreneurs applying for Tekun financing do no need support or endorsement letters from politicians. He said every application should be seen professional and transparently based on the applicant’s eligibility, regardless of race, religion, or political affiliation.
More Financing for Entrepreneurs
Sim said the government os still expanding financing opportunities for entrepreneurs from all communities. Among the initiatives is the Indian Community Entrepreneur Development Scheme (SPUMI), where the allocation has been increased RM30 million to RM50 million.
He also said the Indian Community Entrepreneur Financing Package (MUDRA) gives a total of RM220 million in financing this year. According to him, to strengthen local businesses should not be seen through a racial lens, as Malaysian companies compete together on international stage.
Sources: MalayMail
