SME Bank plans to distribute a total of RM741mil worth of new loans to entrepreneurs.
This is part of the bank’s ongoing engagement sessions with small and medium-sized enterprises (SMEs).
CEO (Banking) Datuk Kamaluddin Ismail announced that this amount was 30 per cent higher compared to the total loans of RM570 million disbursed via the same initiative last year.
A total of 1,947 entrepreneurs nationwide had joined the bank’s engagement session in 2017, added Kamaluddin. He was speaking at the Engagement Session for the Southern Regional Centre in Melaka on Monday.
“This program aims to tackle the issue of access to financing faced by SME entrepreneurs especially for those in the southern region. We will continue the Engagement Session in nine more locations nationwide.”
SME Bank Southern Regional Centre represents two states: Johor and Melaka. Both states have their own economic strength ranging from manufacturing, construction, health and education sectors.
Since its inception in 2005 until December 2017, SME Bank has approved RM28 billion worth of financing to more than 16,000 recipients.