SMEBiz PG Signing with Ambank
CGC and Ambank at the SME Biz Start Up-i Launch and Continuation of RM500 Million SME Portfolio Guarantee Tranche event today, 18 April 2019 at Bangunan AmBank Jln Raja Chulan. SME Biz Start Up-i is aimed at assisting start-ups who have been in business between one to three years and lack collateral as well as access to financing. The Shariah-compliant facility offering RM30 million in financing is a partially secured financing package that comes with 70% of CGC's guarantee coverage. The facility offers financing ranging from RM30,000 to RM300,000 to qualified SMEs. To further complement the ongoing strategic collaboration between AmBank and CGC, to empower the SME segment in Malaysia, an additional RM500 million has been allocated as part of CGC's Portfolio Guarantee tranche continuation with AmBank SME Banking to support the growing demand of the SME industry. The additional allocation is targeted at medium sized SMEs, with financing ranging from RM100,000 to RM1 million. With CGC's guarantee, AmBank SME Banking is able to provide applicants with higher term loan facilities and faster financing approval.