11th August 2026 - 4 min read
Small business owners can now apply for Tekun Nasional financing online, without having to visit a branch. The Tekun Online Application System opened nationwide on 7 August, allowing applicants to register, fill in their business details, upload their documents, and submit their applications online.
The move also comes with shorter processing times. Tekun previously took around 30 days to process financing applications below RM100,000. That has now fallen to about seven days, with Tekun targeting a turnaround time of five days.
The online system was first tested in Kuala Lumpur in July. During the trial, 1,624 applications were submitted online, with 215 applications worth RM6.6 million approved. Of the nearly 31,000 applications Tekun has approved this year, 74.5% were processed within one to five days.
The main financing scheme is Skim Pembiayaan Tekun Niaga, which offers between RM1,000 and RM100,000. The amount you apply for determines which of its three financing categories you fall under.
| Scheme | How Much You Can Get | Repayment Period |
| Skim Pembiayaan Mikro (SPM) | RM1,000 to RM10,000 | Up to 5 years |
| Skim Pembiayaan Kecil (SPK) | RM10,001 to RM50,000 | Up to 5 years |
| Skim Pembiayaan Sederhana (SPS) | RM50,001 to RM100,000 | Up to 10 years |
SPM is mainly intended for applicants who have previously taken Tekun financing, while SPK and SPS are also open to first-time applicants. Repayment periods start from six months, depending on the financing amount and terms offered.
Tekun also has financing schemes for specific groups and types of businesses. These include SPUMI for Indian entrepreneurs, SPOT for online businesses, SP-OKU for entrepreneurs with disabilities, SPORA for Orang Asli communities, and SPAK for tourism and handicraft businesses.
For entrepreneurs who want to apply as a group, Tekun also offers schemes such as Teman Tekun, Skim Pembiayaan Usahawan Tamu, and PLUS.
Tekun Niaga is open to Malaysian Bumiputera aged 18 to 65, with the financing fully repaid before the applicant turns 66. Applicants must not be bankrupt, and their main business activity must comply with Syariah requirements.
Generally, only one person per household can take Tekun financing, although an exception applies where household members operate separate businesses with separate registrations.
Applicants also need a valid business licence, permit, or SSM registration. If you operate at a night market or pasar tani without one of these documents, Tekun accepts a confirmation letter from the relevant MPUKP chairman, JPKK, penghulu, or market organiser.
You will need photos of the front and back of your IC, as well as your spouse’s IC if you are married. You will also need your SSM registration or local council business licence, depending on how your business is registered.
Tekun also requires photos showing your business in operation and three months of bank statements showing your name, bank name, and account number.
Once your documents are ready, you can apply through the Tekun Online Application System at tekunonline.tekun.gov.my. You will need to create an account, enter your business and personal details, upload the required documents, and submit your application.
Tekun has also tested a separate fast-track service at business carnivals in Johor and Melaka, where entrepreneurs could receive approval for financing of up to RM20,000 within 24 hours. However, this service is not currently available through the online application portal.
Tekun charges a profit rate of 4% a year on the financing amount, which is paid monthly together with your financing instalments. You are also required to save 5% of the financing amount each year, with this contribution paid alongside your monthly instalment.
There is also a one-off wakalah fee, starting at RM50 for financing between RM1,000 and RM5,000 and rising to RM500 for financing above RM50,000. A group takaful plan is compulsory too, with the coverage settling your outstanding financing if you die or become permanently disabled.
Keep in mind that some of these costs are taken out before the financing reaches your bank account. Tekun deducts the takaful contribution from your approved amount, along with one year of SKSPS, the social security scheme for self-employed workers, unless you already contribute to it.
This means the amount approved is not necessarily the same amount you will receive. If you are counting on the financing to buy stock, equipment, or cover other business expenses, check how much will actually reach your account and what your monthly repayments will be before committing to the purchase.
If Tekun’s financing limit is too low for your needs, or you do not meet its eligibility requirements, you can also compare micro enterprise business loans and SME business loans from banks and other government-backed lenders.
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As a creative content writer, Eloise has covered finance, business, lifestyle topics, and even moonlights as a singer-songwriter outside of RinggitPlus. Her current interests are learning the best ways to optimise spending and credit card hacks to gain more airline miles.
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