Residents protest over bank credit

KUPANG, East Nusa Tenggara: Hundreds of people who missed out on applying for Bank Mandiri soft loans staged a protest in front of the municipal council on Thursday demanding the bank accept their applications.

The deadline for lodging applications for the low-interest loans was originally Sept. 12, but the bank closed down the applications process early on Aug. 31.

The move meant thousands of potential customers missed out applying for the collateral-free loans for small and medium-scale entrepreneurs offered by the state bank.

During a meeting with city council members, Bank Mandiri Kupang branch manager Frangky Amalo said only a limited amount of funds, Rp 10 billion (US$1.1 million), had been prepared for the loans disbursement. The bank had closed applications early as the number of applicants had been sufficient, he said. -- JP