SME Association of Malaysia president Datuk Michael Kang: “This is a crisis. Banks shouldn’t be using the normal way to process the applications. Banks are still asking for so much documentation, like three-year accounts, directors’ guarantees and all that. SMEs don’t have the time to do all this now. Banks should relax some of these requirements."
PETALING JAYA: Industry leaders are calling on banks to relax their lending criteria to enable quick disbursement of aid to small and medium enterprises (SMEs) to help them sustain their business through the extended period of the movement control order (MCO).
“This is a crisis. Banks shouldn’t be using the normal way to process the applications. Banks are still asking for so much documentation, like three-year accounts, directors’ guarantees and all that. SMEs don’t have the time to do all this now. Banks should relax some of these requirements.
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