Alliance Bank Launches Visa Platinum Business Credit Card For MSMEs

KUALA LUMPUR, Sept 11 (Bernama) -- Alliance Bank Malaysia Bhd has strengthened its partnership with the Credit Guarantee Corporation (CGC) by launching the Alliance Bank Visa Platinum Business Credit Card backed by CGC guarantee coverage.

The credit card offers micro, small and medium-sized enterprises (MSMEs) an additional avenue to gain easier and quicker access to funds for their financing needs, with a simple and hassle-free application process that requires minimal documentation.

Group chief executive officer (CEO) Kellee Kam Chee Khiong said helping the MSME community obtain the right support to succeed is a key priority for the bank. 

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“We understand the challenges MSMEs face in securing financing, especially those that lack collateral or have limited credit records. 

“This innovative solution bridges the gap for MSMEs by offering an accessible and faster path to financing as well as helping small businesses improve their cash flow management,” he said in his speech during the launch of the credit card here today.

Kam added that with the Alliance Bank Visa Platinum Business Credit Card, businesses can boost their cash flow with an interest-free repayment period of up to 56 days and zero per cent flexible payment options for up to six months.

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The credit card will also help MSMEs build a robust credit history, enabling them to access larger funding support and better financial solutions in the future with an enhanced business credit profile. 

Additionally, businesses can opt for cashback rewards of up to one per cent on business expenses or benefit from a low finance charge of only 8.88 per cent per annum. 

Other benefits include savings and discounts, as well as dining, golfing, travelling and shopping privileges at participating merchants, along with enhanced business travel perks such as up to 12 complimentary lounge access passes annually, providing comfort and convenience for cardholders during work trips.

Meanwhile, CGC president and CEO Datuk Mohd Zamree Mohd Ishak said the Alliance Bank-CGC strategic partnership has delivered a total Portfolio Guarantee (PG) of RM3.2 billion, dedicated to supporting unserved and underserved MSMEs.

“The most recent PG launched on May 27, totalling RM550 million, further demonstrates our joint commitment to promoting the growth and development of Malaysian MSMEs.

"Additionally, CGC’s participation in Alliance Bank’s BizSmart Challenge Accelerator Edition provides MSMEs with invaluable opportunities to enhance essential skills, expand critical knowledge, and gain firsthand exposure to industry leaders,” he added.

-- BERNAMA