SHAH ALAM: Perbadanan Usahawan Nasional Bhd (PUNB) eased the terms of loans to traders in Bumiputera under the COVID-19 Affected Entrepreneurs Funding Program (SPUR) by asking them to submit only proof of their dismissal in due to the pandemic, with priority given to those who have created a business.
President Tan Sri Noh Omar said the approval process for SPUR applications would also be speeded up within four weeks provided the two new conditions are met.
“We have increased the financial allocation for this program from RM 5 million to RM 50 million by providing funding of up to RM 100,000 which is expected to benefit approximately 1,000 Bumiputera traders.
“It’s on a first come, first served basis. In addition, the rate charged to entrepreneurs is only 3.5% per annum based on the monthly rate of pay.
“The beneficiaries of this initiative benefit from a six-month deferral of payment automatically from the date of disbursement of the loans,” he said at a press conference today.
SPUR, which started on May 7, has received 124 complete files out of 2,052 registrations received so far.
He said rejected applications would be reassessed as the relatively strict conditions had previously been set as normal loan application conditions.
Meanwhile, Noh said PUNB will also extend the deferral of repayment of funding on principals for a period of six months until December 31, 2021, which would benefit 2,330 PUNB entrepreneur partners and 718 Bumiputera beneficiaries. Relief Financing (BRF).
“This initiative will result in a shortfall of 92.75 million ringgit,” he said.
In addition, 230 tenants of PUNB’s business premises nationwide are eligible for a 50% rental discount for six months through December 31, which represents an estimated rent amount of RM2.89 million. . – Bernama
