Government has announced the removal of collateral as a requirement for Small-scale business operators to access loans at the state owned National Economic Empowerment Fund (NEEF).
Vice President Michael Usi has made the announcement Thursday in Blantyre during an interaction with small scale business operators.
Usi said the decision has been made to help business operators in the country boost their enterprises.
“Let me take this opportunity to inform you that you can now access loans at NEEF without presenting any collateral,” Usi said.
The decision has since excited small-scale business operators under the banner “Small Scale Business Operators in Malawi” who have dubbed it timely.
The association’s Executive Director Tenson Mulimbula has told ProjectM that the decision has presented an opportunity for small scale entreprenuers to thrive.
“We believe this move will help small scale entreprenuers graduate to medium scale or even large scale entreprenuers,” said Mulimbula.
In a separate interview with ProjectM, NEEF spokesperson Elizabeth Hara has urged potential entreprenuers to approach the entity for an opportunity to get a loan.
