Financing for entrepreneurs available from TEKUN

9 November 2023

By Wartawan Nabalu News

KUALA LUMPUR: TEKUN Nasional has approved financing amounting to RM922.6 million or 42,383 financings for this year up until October 31.

Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, stated that out of that amount, RM467.2 million was provided as initial financing to 26,481 entrepreneurs.

He said that cumulatively, the total financing provided by TEKUN Nasional since its establishment in 1998 amounted to RM8.98 billion.

"The Ministry of Entrepreneur Development and Cooperatives (MECD) through TEKUN Nasional plays a role in assisting micro-entrepreneurs by providing business capital through easy financing," he said during the minister's question-and-answer session in the Dewan Rakyat (House of Representatives) today.

He responded to a question from Suhaizan Kaiat (Pulai) who asked about the efforts made by TEKUN to attract more new entrepreneurs who want to venture into business, especially in the small and medium enterprises (SMEs) sector, and whether the ministry plans to implement a TEKUN startup program to provide capital for these new entrepreneurs to start their businesses.

Ewon mentioned that in an effort to increase the number of entrepreneurs entering the business field, TEKUN has implemented new financing schemes.

These schemes include the TEKUN Online Financing Scheme (SPOT), Guest Entrepreneur Financing Scheme (SPUT), Craft Entrepreneur Financing Scheme, and the TEKUN Mobilepreneur Program.

He stated that so far, a total of 779 entrepreneurs have received financing through the TEKUN Online Financing Scheme (SPOT).

Meanwhile, the Guest Entrepreneur Financing Scheme involved 581 entrepreneurs with a financing amount of RM2.6 million, the Craft Entrepreneur Financing Scheme involved 11 entrepreneurs with a financing of RM296,000, and the TEKUN Mobilepreneur Program involved 731 entrepreneurs with a financing of RM6 million," he said.

Ewon stated that to encourage more entrepreneurs to obtain financing from TEKUN, the agency has implemented various promotions.

"TEKUN Nasional participates in exhibitions or entrepreneur programs organized by MEDAC and its agencies such as the Showcase Satu Satu Daerah Satu Industri (SDSI) and Micro, Small and Medium Enterprises (MSMEs) Week to provide direct explanations about TEKUN financing schemes.

"TEKUN Nasional also promotes these financing schemes through radio and television broadcasts, websites, and official TEKUN social media platforms," he said.

Regarding the proposal for TEKUN Nasional to implement a start-up program for new entrepreneurs starting their businesses, Ewon said that TEKUN Nasional has offered the TEKUN Niaga Financing Scheme, which provides small business capital facilities with financing values ranging from RM1,000 to RM100,000 to all micro-entrepreneurs, including prospective entrepreneurs.

For the year 2024, the allocation announced under the 2024 Budget for the TEKUN Nasional Financing Scheme is RM330 million, which also includes the TEKUN Niaga Financing Scheme.-ends

(Pic with Maryann)