ABM Members Disburse RM113.2 billion to Eligible SMEs from January-June 2019

Member banks of the Association of Banks in Malaysia (ABM) have disbursed RM113.2 billion to eligible small-and-medium enterprises (SMEs) in the first six months of 2019, recognising the segment’s imperative role in the economy. In a statement today, the association said it is essential that active facilitation of access to financing continued to be made available for eligible borrowers in the segment.

“SMEs that are seeking financing can also log on to the first SME financing/loan referral platform, imSME. “The online portal is powered by Credit Guarantee Corporation Malaysia Bhd (CGC), in collaboration with the banks and financial institutions, that offers real-time information on SME financing products and services,” it said.

The statement added that banks and financial institutions have consistently played an important role in providing access to financing especially for SMEs in the country. As SMEs form an important component of Malaysia’s economy, it is therefore essential that active facilitation of access to financing continues to be made available for eligible borrowers in this segment. “In participative contribution towards SME growth, ABM would like to state that its member banks which offer financing to SMEs, are continuously supportive towards the SME segment which is a key strategic focus for its member banks.”

“Further, SMEs who are seeking financing can also log on to the first SME financing/loan referral platform, imSME. The online portal is powered by Credit Guarantee Corporation Malaysia Berhad (CGC) in collaboration with the banks and financial institutions which offers real-time information on SME financing products and services. This online portal enables SMEs seeking financing, with a myriad of comparative choices that matches the requirements of the SME who is seeking financing, including non-collateral financing options.”

In a concerted effort to raise greater awareness on the availability of financing for eligible SMEs, ABM and its member banks have launched ‘SME Month 2019’ in September to highlight a wide array of financing products and services available especially for SMEs.

 

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