MALAYSIAN Indian micro-traders preparing for Deepavali will benefit from a fast-tracked seven-day application turnaround and accessible credit assessments under a new RM30 million festive financing initiative.
The BERKAT Deepavali scheme, launched by the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) via Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN) Nasional, provides funding of up to RM30,000 at an annual profit rate of three per cent over a 12-month tenure.
Minister Steven Sim emphasised that relevant agencies have been instructed to expedite processing so small business owners can secure essential working capital without delay.
"Deepavali is one month away, so I am announcing the BERKAT Deepavali scheme for Indian entrepreneurs and traders," Sim told reporters after attending the Bukit Mertajam MADANI Kita Programme at the Santuari Business Centre today.
"We hope that Deepavali entrepreneurs, bazaar vendors, and businesses in Little India can utilise this allocation," he added.
Sim noted that KUSKOP has mandated all decisions for applications below RM100,000 to be issued within seven days, while alternative credit evaluation methods focusing on cash flow will be applied to help those with imperfect credit histories.
"The facility is vital for micro-traders who require short-term working capital to procure stock and prepare for the peak festive season," he explained, adding that funds are tailored for hawkers and traders in food and beverage, apparel, and festive decoration sectors.
The scheme opens today and runs until 8 November, accepting applications via the TEKUN Online System or nationwide branch offices.
Malaysian citizens from the Indian community aged 18 to 65 are eligible to apply, including existing TEKUN borrowers whose total financing remains under RM100,000, subject to proper audit and governance protocols.
The ministry previously disbursed RM35 million to 5,590 entrepreneurs during its BARAKAT Aidilfitri campaign earlier this year, exceeding its initial RM30 million target. - October 3, 2026
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