PONTIAN: A total of 271 entrepreneurs affected by the COVID-19 crisis nationwide have received financing worth RM70 million through the Sustainable Accelerate Scheme (SUCCESS) launched by Permodalan Usahawan Nasional Bhd (PUNB) in November last year.
Chairman Datuk Ahmad Nazlan Idris said the initiative was specifically offered to existing PUNB entrepreneur partners to ensure their business sustainability in facing COVID-19-related challenges during the nation's economic recovery phase.
The organisation had taken strategic steps to improve the financing structure such as offering Shariah-compliant financing from RM100,000 to a maximum of RM10 million with a financing period of up to seven years according to business sectors, he told reporters after attending a PUNB briefing and dialogue session with entrepreneurs here today.
Initially, the maximum amount of financing provided under SUCCESS was RM1 million.
In addition, Ahmad Nazlan said, PUNB had shortened the approval period for financing of below RM300,000 to two weeks based on the conditions set.
When the SUCCESS initiative, with an allocation of RM100 million, was first announced on Nov 21, 2021, PUNB had said the approval process would take three working weeks for applicants with a complete set of documents.
“God willing, we will try as best and as fast as possible. We do not want to have too long a period. For financing of RM300,000 and above, we are also in the process of reducing the (approval) period so entrepreneurs who apply need not wait long,” he said.
Ahmad Nazlan said 40 entrepreneurs in Johor had received RM9 million in total financing through the scheme to date.
Pontian Member of Parliament Datuk Seri Ahmad Maslan was also present at the PUNB session with entrepreneurs today. - BERNAMA
Source: The Sun Daily
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