• SME News
Call To Simplify Loan Condition To Assist SMEs Business Expansion
PENANG, April 17 (Bernama) -- The state government and banks have been asked to simplify loan conditions for small medium enterprises (SME) entrepreneurs to assist them in expanding their business and also help boost the economy.The Minister of Housing and Local Government Datuk Kong Choo Ha said the matter was important to avoid having the SME entrepreneurs borrow from unlicensed financial agencies or "alongs". "
In the current uncertain economy, the state government can play a part in simplifying applications to give the entrepreneurs an opportunity to expand their business," he said after launching a micro-credit financing exhibition here today.
The exhibition, the third this year, had the participation of nine trade banks and is sponsored by the MCA Information Communications and Technology Centre.
Kong, who is also a MCA vice-president, hoped that organising the exhibition, would help enhance awareness among SME entrepreneurs and small businessmen on the micro credit financing He said the micro credit financing can be up to RM50,000 with a repayment that was not burdensome to borrowers.
"The repayment rate is different for every bank but is still not a burden. Under the present circumstances, we should not burden borrowers," he said. -- BERNAMA
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