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Sme Bank Approves Rm1.3 Bln In Loans To 600 Smes

[ 21-07-2014 ]
Sme Bank Approves Rm1.3 Bln In Loans To 600 Smes
TANGKAK, July 13 (Bernama) - SME Bank has approved RM1.3 billion in loans to 600 small- and medium-scale entrepreneurs (SMEs) in the first five months of this year, said managing director, Datuk Mohd Radzif Mohd Yunus.

He said the amount was part of the RM2.5 billion allocated for lending to the SMEs for this year.

"The biggest amount was for those involved in services sector," he said.

Mohd Radzif said this at a media briefing after the ceremony to present zakat contributions from SME Bank to 274 poor folks from the Serom State Assembly constituency here today.

Deputy International Minister of Trade and Industry, Datuk Ir Hamim Samuri, presented the zakat.

On the scheme to help graduates get involved in business, Mohd Radzif said RM50 million has been allocated this year.

The response from the graduates were encouraging, he said.

"The graduates can borrow up to RM500,000 if they meet the conditions, among them, is that they must be below 40 years old," he said.

He said the bank always gave considerations to graduates who were innovative in the types of businesses they wanted to pursue.