Terengganu disburses RM563,384 under financing schemes to entrepreneurs

KUALA TERENGGANU: The state government through the Terengganu Entrepreneur Development Foundation (YPU) has distributed a total of RM563,384 to 31 entrepreneurs for their business development.

Terengganu Entrepreneurship, Human Resources, Micro Industry and Consumer Affairs Committee chairman Mohd Nurkhuzaini Ab Rahman said there were nine financing schemes under the Terengganu Sejahtera Entrepreneur Fund and would be given according to certain criteria.

He said of the total, RM321,000 was distributed to 15 entrepreneurs through the Business Enhancement Financing Scheme.

“Besides that, five entrepreneurs received RM111,000 from Siti Khadijah Fund and through the Terengganu Online Financing Scheme, one entrepreneur received RM10,000. For the Mobile Truck Financing Scheme, one entrepreneur received RM50,000 and through the World Basic Financing Scheme, one entrepreneur received RM37,000.

“For the Entrepreneur and Micro Industry Fund, four entrepreneurs received RM16,000 while for the Terengganu Caring Fund for the Disabled, four entrepreneurs received RM18,384,“ he told reporters after the cheque presentation ceremony for the financing schemes here today.

At the event, the state government through a strategic partnership between YPU and Bank Islam Malaysia Berhad (BIMB) launched the Bangkit Micro Financing Programme using Sadaqa House’s allocation, without collateral and guarantor.

Meanwhile, BIMB Group Chief Financial Inclusion Officer Mohd Nazri Chik said the focus of the programme was on hawkers, small traders and the B40 group who were not eligible for regular banking facilities.

“Among the features of this financing is to expand the business with a financing limit of between RM3,000 and RM20,000. It is open to sole proprietorship and partnership businesses, with a zero per cent profit rate, no fees and charges and open to various sectors, including gig economy,” he said.-Bernama