Call for banks to help small businessmen

Parliamentary Secretary Edwin Vassallo has emphasised the need for local banks to improve their loan schemes to the self-employed and owners of small business, particularly for investment in research and innovation. Addressing a number of self-employed...

Parliamentary Secretary Edwin Vassallo has emphasised the need for local banks to improve their loan schemes to the self-employed and owners of small business, particularly for investment in research and innovation.

Addressing a number of self-employed at a consultation meeting, Mr Vassallo praised the initiative taken by HSBC and Malta Enterprise to offer schemes to assist SMEs.

It is essential that local banks strive to assist owners of small businesses in order to strengthen and encourage the sector, Mr Vassallo said.

The schemes offered by HSBC in conjunction with Malta Enterprise offer loan guarantees and favourable interest rates on loans. They are aimed at three different sectors - the first scheme is aimed at manufacturers, the second for start-ups and the third scheme is for tenants building units at the Ta' Qali Crafts Village.

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