Regulatory Alerts2008-05-26
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ACSPD Circular Letter No. 02: Extending loan to Small & Medium Enterprise (SME) sectors
The document advises banks and financial institutions to engage NGOs to assist in borrower selection, loan distribution, and recovery to reduce supervision costs for Small and Medium Enterprise (SME) lending. It extends the repayment period for medium-term industrial loans from three to four years, requiring repayment in seven equal semi-annual installments including interest, with a six-month moratorium from the loan date. These instructions supersede all previous directives on this matter and take immediate effect.
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