An additional RM500 million Portfolio Guarantee tranche will help support the development of small and medium enterprises. ambank sme
SME Biz Start Up-i offers financing of between RM30,000 and RM300,000 to qualified SMEs.
KUALA LUMPUR: AmBank Bhd and Credit Guarantee Corporation Malaysia Bhd have launched a RM30 million shariah-compliant financing for start-ups and an additional RM500 million Portfolio Guarantee tranche to support the development of small and medium enterprises . Ambank group CEO Sulaiman Mohd Tahir said CGC would guarantee 70% of the financing called SME Biz Start Up-i which offers financing of between RM30,000 and RM300,000 to qualified SMEs.
Meanwhile, the Portfolio Guarantee tranche, with financing ranging from RM100,000 to RM1 million, is extended to SMEs with three years’ track record.“We find that SMEs with more than three years of track record have access to financing, but those below three years have difficulty in terms of ability to raise funding,” he told a press conference after the launch of the Portfolio Guarantee tranche here today.
“We expect the same performance for the additional RM500 million Portfolio Guarantee tranche launched today, if not better,” Zamree said.Over the last four years, AmBank and CGC have launched 15 Portfolio Guarantee tranches totalling RM2.88 billion to 2,700 SMEs.
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