KUALA LUMPUR: Alliance Bank Malaysia Bhd
and government-owned Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) will extend another RM1 billion in financing through guarantee schemes to accelerate the growth of small-and-medium enterprises (SMEs).
Alliance Bank said the guarantee schemes covered in the partnership include the Pemulih Government Guarantee Scheme, 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 - Startup, which aim to help SMEs across all sectors meet different business requirements as they grow, the bank said in a statement.
Alliance Bank group chief SME and commercial banking officer Raymond Chui said "under the Acceler8 strategy, the bank continued its velocity within this segment and this extended partnership with SJPP would 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,” he said.
In addition to the schemes, 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.
Alliance Bank said the LCTF allows SMEs to obtain collateral-free financing for the purchase and installation of solar energy systems at affordable financing rates.
"The bank remains committed to helping businesses adopt environmental, social, and governance practices in order to gain competitive advantages and aims to promote the take-up of LCTF to encourage renewable energy generation,” it added. - Bernama
