AmBank introduces RM100m financing solution for SMEs
Published on: Thursday, November 23, 2017

Kuala Lumpur: AmBank (M) Bhd in collaboration with the Credit Guarantee Corporation Bhd has introduced the SME Biz Property Extra, a RM100 million financing solution for small and medium enterprises (SMEs), to assist them with property purchases and working capital requirement.Group Chief Executive Officer Datuk Sulaiman Mohd Tahir said the financing solution was positioned as a partially secured financing package that is 70 per cent guaranteed by CGC.

"AmBank SME Banking is able to provide applicants with higher term loan facilities and faster financing approval with CGC's guarantee," he said in a statement.

Meanwhile, Jade Lee, Managing Director, Retail Banking, Ambank Bhd was optimistic that the product would be able to reach a broader segment of the SME community in the country with greater margin of financing of up to 148 per cent and high working capital limit of up to RM3 million.

Since January 2015, AmBank has commenced seven tranches of portfolio guarantees with CGC totalling RM1.35 billion, of which RM750 million is under SME Banking sector and the fund size surpassed AmBank SME Banking's initial target of RM550 million for the current financial year, it said.

The SME Biz Property Extra is open for applications at all 175 AmBank branches, nationwide. – Bernama


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