Fast loans to fight loan sharks: Ministry mandates 24-hour turnaround on petty trader funding
Photo: New Straits Times
KAJANG: Agencies under the Entrepreneur Development and Cooperatives Ministry (Kuskop) must decide on financing applications below RM20,000 within 24 hours to prevent cash-strapped hawkers and petty traders from turning to loan sharks.
From the original report
Its minister Steven Sim said lengthy waiting periods were impractical for traders who urgently needed capital to keep their businesses running.
"If hawkers and petty traders need capital, are desperate and are stuck, they cannot wait five days. If they cannot wait five days for the National Entrepreneurial Group Economic Fund (Tekun), who will they turn to? Loan sharks.
…
This is a brief of a report by another newsroom. The excerpt below is from the original.
Read the full report at New Straits Times
New Straits Times
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About this story
- Source
- New Straits Times
- Originally published
- Nov 1, 2026
- Updated here
- Nov 1, 2026
- Produced by
- Malaysia Times desk (brief) — reporting by the source
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