The National Entrepreneur Group Economic Fund (TEKUN Nasional) has approved loans amounting to RM8.5 million through the Informal Financing Scheme (SPIN) as of March, involving a total of 1,345 applicants nationwide.
Entrepreneur Development and Cooperatives Deputy Minister Datuk Mas Ermieyati Samsudin said the funding was introduced in December 2020 to help affected small businesses continue running.
She said TEKUN Nasional had allocated RM50 million for the purpose, targeting 10,000 entrepreneurs nationwide who were not registered with the Companies Commission of Malaysia (SSM).
“We hope that more entrepreneurs, regardless of whether they are selling delicacies from their homes, having an online business or any other small-scale venture for that matter, seize this opportunity to raise capital and increase their income.
“The application for SPIN is also very easy. It has an approval period of seven days with four documents required, and enables entrepreneurs to get financing of amounts between RM1,000 and RM5,000,” she told Bernama here today.
Earlier, Mas Ermieyati officiated the TEKUN Nasional Basic Entrepreneurship Course at the Melaka state-level in a ceremony which was also attended by TEKUN Nasional Transformation and Project Management Division senior deputy chief executive officer Aishamuddin Zulkefli.
In the meantime, Mas Ermieyati said TEKUN Nasional also aimed to train 18,000 entrepreneurs this year on topics such as effective marketing strategies and techniques, as well as efficient financial management.
“We also hope that these people will diversify their skills and creativity in business following the COVID-19 pandemic, such as collaborating with government agencies to enable them to take advantage of the latest technology, expand business chains and improve financial strength,” she said.
Source: BERNAMA News Agency