KUALA LUMPUR: Perbadanan Usahawan Nasional Bhd (PUNB) plans to increase its business financing this year to RM250 million from RM189 million previously after examining and reviewing the needs of local entrepreneurs.
Its chief executive Izwan Zainuddin said the financing would not be limited to any specific industry and would be open to all Bumiputera entrepreneurs.
"Our financing is open to all and is not limited to any segment or focus only on international or local sectors.
"This is because we do not want a situation where the financing is fully utilised in the event an entrepreneur has the opportunity to venture into overseas markets," he told the media after the press conference to announce the upcoming opening of the Meet Bros Steakhouse here today.
Izwan said it was only after obtaining feedback from Bumiputera entrepreneurs on their needs that PUNB decided to increase the amount of financing.
He said the amount allocated was for the whole country, including Sabah and Sarawak.
"Only after we went down to the ground we found entrepreneurs needed to stock up because all this while, they are selling fast-moving goods, and there is a need to restock.
"Sometimes, there are also situations where suppliers require down payments. While the suppliers used to ask for between 20-30 per cent of the total amount, this has risen up to 50 per cent. This is why entrepreneurs need financing," he added. - Bernama
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