AmBank Partners CGC To Provide RM30 Million For Start-ups
Last update: 18/04/2019
KUALA LUMPUR, April 18 (Bernama) -- AmBank (M) Berhad (“AmBank”) and Credit Guarantee Corporation Malaysia Berhad (“CGC”) have entered a new strategic partnership to fulfil the financing needs of Small and Medium Enterprises (SMEs). AmBank and CGC today launched SME Biz Start Up-i which is aimed at assisting start-ups who have been in business between one to three years and lack collateral as well as access to financing.
The Shariah-compliant facility offering RM30 million in financing is a partially secured financing package that comes with 70% of CGC’s guarantee coverage. The facility offers financing ranging from RM30,000 to RM300,000 to qualified SMEs.