KUALA LUMPUR, The National Entrepreneurial Group Economic Fund’s (Tekun) ability to oversee loan repayments and debt collection allows it to provide financial assistance to more borrowers, the Dewan Rakyat was told today.

Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick said for this year alone, a total of RM922.6 million, or 42,383 financings, had been approved, with RM467.2 million serving as the initial funding for 26,481 entrepreneurs up until Oct 31.

“The RM922.6 million in funding channelled is higher than the RM330 million allocated to Tekun in the Budget 2023.

“The surplus of this fund comes from our ability to collect loan repayments according to schedule, thus opening up opportunities for new entrepreneurs to get financing,” he said during the Minister’s Question Time.

He said this in reply to a supplemenary question from Datuk Mas Ermieyati Samsudin (PN-Masjid Tanah) regarding the efforts made by TEKUN Nasional in educating entrepreneurs to repay their loans to enable them to get the next financing and to assist more borrowers.

In response to the original question from Suhaizan Kaiat (PH-Pulai) regarding the efforts made by Tekun to increase the number of new entrepreneurs, Ewon said the ministry had implemented various financing schemes, including the Tekun Online Financing Scheme (SPOT) for 779 entrepreneurs, involving financing totaling RM5.9 million.

In addition, he said 581 entrepreneurs had also been assisted through the Usahawan Tamu Financing Scheme (SPUT), with funding totaling RM2.6 million, while 731 entrepreneurs had benefited from the TEKUN Mobilepreneur Programme, involving funding amounting to RM6 million.

Ewon said that Tekun had also participated in exhibitions or entrepreneurship programmes organised by the ministry and its agencies, such as the Satu Satu Daerah Satu Industri (SDSI) Showcase and Micro, Small, and Medium Enterprise (PMKS) Week, to provide explanations of its funding schemes.

Meanwhile, Ewon said that Tekun had disbursed RM8.98 billion in micro-financing since its establishment in 1998 up to October this year.

Source: BERNAMA News Agency