Kuskop provides various financing facilities to help affected MSME entrpreneurs

KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives  (KUSKOP) through its agencies has provided various financing facilities to micro, small and medium enterprises (MSMEs) to help entrepreneurs facing problems involving working capital and financing.

Deputy Entrepreneur Development and Cooperatives Minister Saraswathy Kandasami said the actions are taken by the ministry through its agencies such as Tekun Nasional, Amanah Ikhtiar Malaysia, SME Bank, Bank Rakyat and Pernas.

"Tekun Nasional provides Tekun Niaga financing to micro-entrepreneurs with a financing value of between RM1,000 and RM100,000.

"Amanah Ikhtiar Malaysia provides Ikhtiar Financing Scheme to micro and informal entrepreneurs to the tune of RM3,000 to RM30,000.

"SME Bank offers a variety of financing programmes to MSME entrepreneurs covering start-up, growth and maturity for MSME entrepreneurs with a financing value of between RM100,000 and RM5 million," she said at the Dewan Negara today in reply to Senator Datuk Ahmad Ibrahim's question asking the Entrepreneur Development and Cooperatives Minister to say what the ministry's mechanism is in helping MSMEs deal with working capital and financing problems.

She said Bank Rakyat also provides various financing programmes for MSME entrepreneurs such as the BRPlus-i Financing Scheme and the Biz Lady Financing Scheme with financing values ​​ranging from RM5,000 to RM1 million.

She said Pernas also provides financing support to franchise entrepreneurs through the Be Your Own Boss (BYOB) and Business In Transformation (BIT) projects with a financing value of up to RM500,000.

"SME Bank, Tekun Nasional, Pernas and Bank Rakyat also provide assistance to help affected entrepreneurs through the scheduling and restructuring of loans by extending the financing period at a reasonable repayment rate," he added.- Bernama

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