Selangor EXCO welcomes RM80 million in special financing for micro-entrepreneurs ahead of Ramadan and Chinese New Year to boost business capital.
KUALA LUMPUR: A special RM80 million festive financing initiative aims to boost micro-entrepreneurs ahead of major celebrations.
Selangor Youth, Sports and Entrepreneurship Committee chairman Mohd Najwan Halimi said the move reflects the ministry’s commitment to small traders.
“I welcome the announcement by the minister Steven Sim Chee Keong on the provision of special financing funds aimed at assisting and empowering micro-entrepreneurs nationwide,” he said.
Under TEKUN Nasional’s BARAKAT scheme, Bumiputera entrepreneurs in Selangor can access a RM50 million allocation.
It offers financing up to RM30,000 per applicant with a 12-month repayment period and a 3% annual interest rate.
Chinese entrepreneurs can access capital via the BERKAT programme ahead of Chinese New Year.
SME Corp offers this through a RM30 million allocation with financing also up to RM30,000.
The profit rate is as low as 3% per annum and will be channelled through the regulated P2P platform CapBay.
Mohd Najwan urged small traders to fully utilise the initiative to strengthen business sustainability.
He said the programme ensures transparency and good governance.
