A lifeline for small traders

Safer alternative: The number of hawkers have mushroomed over the last few years with some turning to loan sharks. BSN’s loan facility is designed to help traders and their businesses. — LOW LAY PHON/The Star

KUALA LUMPUR: Bank Simpanan Nasional’s (BSN) microfinancing loan facilities of RM1.4bil to hawkers and small traders under Budget 2024 is designed to prevent them from going to “ah long” (loan sharks).

Dean of the School of Business and Economics at Universiti Putra Malaysia Prof Dr Bany Ariffin Amin Noordin said in most cases, hawkers resorted to illegal money lenders because they needed funds as capital to start or expand their business.