Credits granted to small businesses

Credits granted to small businesses

TANGERANG (JP): The local branch of state BNI 46 bank is
providing credits of up to Rp 50 million to small-scale
businesspeople whose kiosks and merchandise were damaged or
looted during mass rioting two weeks ago, an official said
yesterday.

Rijanta, head of the Tangerang branch, said the credits, which
attract an annual interest rate of 12 percent, would be given
mainly to groups consisting of between 10 and 30 members who had
been endorsed by local mutual cooperatives.

Each group is required to equip itself with business
certificates from local related institutions, he said.

"If all the requirements are met, their proposal will be
processed without necessarily giving the bank any kind of
collateral," he said. (41)