Small scale entrepreneurs and business owners in Malaysia will be given access to more loan opportunities from government body Tekun Nasional (TEKUN).

The Minister of Entrepreneur and Co-operative Development, Datuk Noh Omar, told that the institution has stepped up initiatives to create an easier way for petty traders and business owners to apply for loans and obtain up to RM3,000 approved on immediate basis.

To make it happen, TEKUN personnel will be instructed to open up make-shift counters in crowded areas where small entrepreneurs usually do their daily trading such as the pasar malam, or areas with close proximity to shopping complexes or busy streets.

The opening of the counter will enable entrepreneurs to visit the center without having to take long time and distance to travel. Applicants who meet the criteria by the body will have the money credited to their bank account without having to wait for long.

Tekun Nasional was established in 1998 under the Ministry of Entrepreneur and Co-operative Development, MECD to provide loans and financial assistance to entrepreneurs, particularly the Bumiputras. Today, its extension of services covers training and development, support and advisory as well as networking events.

TEKUN can provide loan which amounts up to RM50,000 and comes without collateral terms or a need of guarantors.

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