Process loans within 30 days, agencies told

  • Nation
  • Tuesday, 10 Jun 2003

KUALA KRAI (Kelantan): All agencies under the Entrepreneur Development Ministry must process loans within 30 days from the date of submission to encourage more petty traders to use the funds, said Entrepreneur Development Deputy Minister Datuk Khalid Yunus. 

He said there were 10 funds available to entrepreneurs, particularly petty and small businessmen. 

“If these businessmen are given the run-around, they will have no choice but to seek the help of loan sharks.  

“There are loans which do not need any collateral, making it easier for such traders to apply for them.  

“That is why agencies responsible for such loans must find ways to settle all loan applications within a month,” he told reporters after attending the launching of the RM39.9mil Kuala Krai Mara Junior Science College by the Sultan of Kelantan Tuanku Ismail Petra Al-Marhum Sultan Yahya Petra here yesterday. 

Khalid said one of the main reasons why such funds had been under-utilised was because such businessmen did not have adequate information about the funds. 

“I have directed all agencies responsible in handling such loans to disseminate the information to ensure that it gets to the target groups. 

Khalid added that RM200mil had been set aside as a revolving fund for petty traders under the stimulus package announced recently.  

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