Perak Indian Chamber of Commerce (PICC) organised a briefing on commercial loans available from banks for its members at its premise in Jalan Sultan Iskandar. Representatives from Public Bank and Bank Simpanan Nasional (BSN) informed the members on loans available from their banks.
Thong Chee Keng, Sales and Marketing Manager of Public Bank spoke of their SWIFT Plan which provides financing or refinancing of shop houses and factories, working capital financing and business expansion. Facilities available include fixed loans, overdrafts and ABBA (Islamic) Term Financing. The bank also provides PB Micro Finance to self-employed individuals involved in the agriculture, services and manufacturing business. The interest rates depend on the credibility of the borrower.
Muhamad Haseirie Mahyudin, Vice President/Manager of BSN briefed on the products and services available from their bank. He spoke of the micro financing of Small and Medium Enterprises and the requirements of the applicant. He said that loans would be approved within seven days.
Muhamad spoke of the Agent Banking System which was introduced in 2010. By becoming an agent, a person can provide services like bill payments and loan repayments and earn a commission on each transaction.
Though the briefing was for PICC members, the services are available for all eligible citizens.