SME Bank Loans

Just when the Prime Minister said (as reported on 28 Aug, STAR) that the SME (small & medium enterprises) Bank Loans are opened for all races, rigid requirements imposed by SME Bank Berhad itself really baffles certain group of people who were not amused by it.

Though opened to all races, these are the following requirements on potential borrowers (as reported on 5 Sept, STAR):-

• must be a degree holder;
• must have at least a 51% bumiputra ownership; or
• provide collateral and have fixed deposits.

By imposing item 2, business owners of other races may have to relinquish 51% of their ownership to the bumiputra race in the end making that business becoming bumiputra-owned. Where are we heading to right now? On the front page, the story seems so nice and accommodative to all races but when it comes to the nitty gritty of the application, the real picture unfolds. Anyone has the right scenario now?

Tags: SME Bank Berhad, Loans, Malaysia, Small & Medium Enterprise