Better Access Financing For Micro Entrepreneurs

The Maybank SME month-long campaign kicked-off with a “Micro Entrepreneur Engagement Workshop” at Shah Alam Convention Centre. The campaign aims to provide entrepreneurs with the necessary financial and business knowledge to build up their businesses.

This is in line with the ongoing efforts which Maybank has been providing to SMEs on greater access to financing. The campaign will run from September 1-30, 2019 offering exclusive deals as well as promotional rates for SME clients. In addition, a series of programmes will be held nationwide to enable SMEs to upskill their knowledge and look for opportunities to expand their businesses.

Datuk Hamirullah Boorhan, Maybank’s Head, Community Financial Services for Malaysia said “Through the series of workshops that we have planned, we are hoping that SMEs will not only gain a better understanding of the requirements for financing, but also be able to network with their peers across different industries and develop new insights into building their businesses.”

He added that the SME segment is a key focus for Maybank and its SME loans have grown healthily in the past few years, recording a 23 percent CAGR for five years between 2013-2018.

“We are confident of meeting our target of providing RM35 billion financing to SME within three years. From 2018 to June 2019, we provided some RM13.4 billion in financing to more than 20,000 SMEs,” he said.

Datuk Hamirullah further commented that many initiatives and innovations will continue to be implemented to drive this sector. This includes collaboration with Credit Guarantee Corporation (CGC) and Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) to provide non-collateral to charge to the bank for financing.

Maybank also has partnerships with various institutions such as the East Coast Economic Region Development Council (ECERDC) to provide exclusive financing package to eligible SMEs in this region.

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