AmBank introduces RM100 million financing solution for SMEs

KUALA LUMPUR: AmBank ( M) Bhd in collaboration with the Credit Guarantee Cor p or at ion Bhd ha s introduced the SME Biz Property Extra, a RM100 million financing solution for small and medium enterpr i ses ( 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.

Meanwhi le, Jade Lee, managing director, Retail Banking, Ambank Bhd was opt imist ic 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.

S ince Janua ry 201 5 , AmBank has commenced seven tranches of portfolio guarantees with CGC totalling RM1.35 bi l l ion, 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.