COVID-19 : RM4.38 million funds channelled to 333 Terengganu entrepreneurs

KUALA TERENGGANU: The Terengganu state government through the Entrepreneur Development Foundation (YPU) has so far channeled RM4.38 million to 333 entrepreneurs affected by the COVID-19 outbreak.

YPU chief executive officer Ahmad Farhan Abdul Wahab said the loan extended to each individual was between RM5,000 and RM50,000, depending on the losses they have incurred.

"The allocation through the Terengganu SME Rehabilitation Fund is syariah-compliant and interest-free and the loan repayment period is within five years.

"It is hoped that this special loan will allow the entrepreneurs to restructure their business strategies for their businesses to survive and recover post-COVID-19," he told Bernama today.

Among those who had benefited from the funds were entrepreneurs involved in the food and agro-based products, tourism, personal care and cosmetics, retail, textile and handicraft, manufacturing as well as information technology sectors.

Meanwhile, he said, YPU had to cancel several business promotion campaign programmes for Terengganu entrepreneurs following the sharp spike of COVID-19 cases of late.

"However, small-scale events namely the Malaysia Sales Programme and the Terengganu Buy Malaysian Goods Campaign were still held from Sept 24 to 27,” he said adding that 41 entrepreneurs took part in the events which recorded sales of over RM87,000 during the four-day period.

"We will continue to assist the entrepreneurs in getting promotional space in supermarkets as the focus during the current Recovery Movement Control Order period will be on the growing number of local tourists," he added.

-- BERNAMA