Kinabatangan: Loan applications submitted to agencies under the Ministry of Entrepreneur and Cooperatives Development (KUSKOP) will receive approval within five working days, assured Deputy Minister Datuk Mohamad Alamin. This initiative intends to reduce bureaucracy and enable entrepreneurs to secure capital quickly for their businesses.

According to BERNAMA News Agency, Mohamad emphasized the importance of this streamlined process after acknowledging numerous complaints from entrepreneurs about delays in loan approvals. He stated that KUSKOP has committed to the five-day approval timeframe, provided that all required documents are complete. Furthermore, the ministry has set up a data-sharing system to alleviate the burden on entrepreneurs from having to submit multiple forms during their applications. This system ensures that once an entrepreneur's data is available, there is no need to provide new documents repeatedly.

Mohamad made these remarks while speaking to reporters after officiating the Jualan MADANI Koperasi dan Usahawan (JMKU) Programme at Koperasi Pelancongan Mukim Batu Puteh (KOPEL) in Kinabatangan. During the event, he presented mock cheques to several entrepreneurs and cooperatives, reinforcing the MADANI Government's commitment to fostering cooperative and entrepreneurial development across the nation.

Additionally, Mohamad announced plans to expand the JMKU programme to all districts in Sabah this year, aiming to enhance the sales and income of entrepreneurs. He also highlighted the RM11 million financing provided to KOPEL, which is intended to assist the cooperative in acquiring assets and expanding its business operations.