Alliance Bank Malaysia Berhad (“Alliance Bank”) today strengthened its strategic partnership with Minister of Finance Incorporated’s wholly-owned Syarikat Jaminan Pembiayaan Perniagaan Berhad (“SJPP”) to extend another RM1 billion in financing through guarantee schemes to accelerate the growth of small-and-medium enterprises (“SMEs”).
The guarantee schemes covered in this partnership include the PEMULIH Government Guarantee Scheme (“PGGS”) which will allow businesses without collateral to access financing of up to RM20 million to fund their capital expenditure, daily business operations and trade activities.
Other schemes that will also be offered include the Working Capital Guarantee Scheme (“WCGS”) and Working Capital Guarantee Scheme – Start Up (“WCGS-SU”), which aim to help SMEs across all sectors meet different business requirements as they grow.
“Under the Acceler8 strategy, we continue our velocity within this segment and this extended partnership with SJPP allows us to enable the growth of local SMEs through targeted financing solutions. We look forward to participating actively in SJPP schemes to provide unique value propositions to meet SMEs’ needs at every stage of their life cycle, and help them achieve their business goals,” said Alliance Bank Group Chief SME Raymond Chui.
In addition to the schemes above, Alliance Bank and SJPP have also facilitated access to Bank Negara Malaysia’s Low Carbon Transition Facility (“LCTF”) scheme for SMEs transitioning towards more sustainable business practices. The LCTF allows SMEs to obtain collateral-free financing for the purchase and installation of solar energy systems, at affordable financing rate. The Bank remains committed to help businesses adopt ESG practices in order to gain competitive advantages and aims to promote take up of LCTF to encourage renewable energy generation.
