Entrepreneurs trained under MEDAC confirmed to receive business loans

SHAH ALAM: Entrepreneurs trained under the Ministry of Entrepreneur Development and Cooperatives (MEDAC) are confirmed to receive financial loan assistance in order to give them an opportunity to start a business.

MEDAC minister Tan Sri Noh Omar said this would ensure that all courses or training conducted under the ministry are not merely for the purpose of presenting certificates to the public.

"We are training entrepreneurs not for obtaining certificates. It is fine to give certificates but what is the use of certificates if they return home empty-handed without being able to start a business?" he told a media conference after officiating the Malaysian Chambers of Entrepreneur Business Development general meeting here today.

He said this is a policy he is working on to assist in the quick recovery of entrepreneurs affected by the COVID-19 pandemic.

"Therefore, any entrepreneur trained under MEDAC must be eligible for loans and the amount will be decided through the assessment made by ministry officials," he said.

Furthermore, Noh said, he has instructed his staff to assist entrepreneurs without going through the process of checking the Central Credit Reference Information System (CCRIS) or CTOS for the time being.

"No need to check because our motive is to help revive the economy. After the recovery, we can return to the old way (of doing things)," he added.

-- BERNAMA