TEMERLOH: Banks and financial institutions were told not to impose restrictive conditions and excessive red tape that adversely affected businesses in getting loans.
In making the call, Deputy Entrepreneur and Cooperative Development Minister Datuk Saifuddin Abdullah said the Government decided that those blacklisted for defaulting on loans would get second loans to maintain their businesses.
He said some debtors needed to refinance to carry on with their livelihood and settle their debts.
Saifuddin, who is also Temerloh MP, told reporters here that the Government had made various loan schemes available for businessmen and traders.
This was to encourage them to expand in line with the Government’s aim to have more entrepreneurs.
He said the Micro Credit Scheme, Tekun loans and Small and Medium Industry loans were among the facilities provided by the Government.
Saifuddin said the RM10mil loan fund approved for small businessmen and traders was proof of the Government’s earnestness in helping them. - Bernama