The Government has made credit access sufficiently easy for small- and medium- scale enterprises (SMEs) that they can stop turning to loan sharks and illegal moneylenders for funds.
The recently announced stimulus package allows SMEs to secure funds from development financial institutions without the need for guarantors and collaterals.
Deputy Prime Minister Datuk Seri Abdullah Ahmad Badawi said the waiver of the collateral requirement, long a sore point among entrepreneurs, should give a major boost to the setting up of new enterprises.
"Entrepreneurs should no longer depend on loan sharks or illegal moneylenders for funds," he said when opening the 4th SMI One-Stop Solution 2003 (SMIOSS) fair in Kuala Lumpur yesterday.
As part of the stimulus package, the Government allocated RM500 million and RM300 million to Bank Pertanian Malaysia and Bank Simpanan Nasional respectively to carry out their micro-credit schemes.
