Affin Bank Bhd has introduced its second tranche of the BizDana-i Start-Up financing scheme with an allocation of RM20 million. This is up from RM15 million allocated in October last year.
President and group chief executive officer Datuk Wan Razly Abdullah Wan Ali said the financing scheme is aimed to assist ambitious start-up entrepreneurs who have feasible projects with promising business plans by providing working capital to help expand their business operation and support growth.
“Up to RM300,000 in financing and repayment tenure of up to 84 months are available for eligible start-ups. Registration is open from June 14, 2021,” he said in a statement today.
Wan Razly noted that the bank has partnered with Credit Guarantee Corporation Malaysia Bhd (CGC) in providing multiple financing schemes aimed at building and nurturing the SME community in Malaysia.
“SMEs, including start-ups, play a major role as key drivers of our economy. The BizDana-i Start-Up financing scheme can be utilised by start-ups facing cash flow difficulties to ride out the COVID-19 storm while expanding their business,” he said.
He added that it is crucial for the growth of SMEs to be fully supported and nurtured by a reliable banking institution so they can propel their business forward, even more so during times of uncertainty.