Affinbank Berhad launched the BizDana-i Financing Scheme that is guaranteed by Credit Guarantee Corporation Malaysia Berhad (CGC), a financing scheme worth RM15 million specifically for start-up businesses. Eligible start-up entrepreneurs can start applying, effective 15 October 2020 and get up to RM300,000.00 in financing with a repayment of up to 84 months.
Affinbank’s BizDana-i financing scheme is aimed specifically to assist ambitious start-up entrepreneurs who have feasible projects and promising business plans with the necessary financing, as early as 6 months in operations, with no collateral needed. This initiative will help boost their working capital, expand business operations and support growth.
President and Group Chief Executive Officer of Affinbank, YBhg. Datuk Wan Razly Abdullah Bin Wan Ali, said, “We believe that every feasible business should be given an opportunity to thrive and survive, including start-ups. While there are multiple financing choices available for SMEs, start-ups are often underserved as they are considered the riskier segment. With appropriate risk mitigating process in place, Affinbank will continue its stance as the preferred bank for this emerging segment by offering them the necessary resources to nurture, build and grow inclusively.
“The new BizDana-i financing scheme further enhances the already established and multi- award-winning Start-Up Banking proposition by Affinbank. SMEs play a crucial role in driving the country’s economic growth. In addition to being instrumental in boosting the growth of SMEs and start-up segments, Affinbank Portfolio Guarantee Financing Scheme is also able to help them from the impact of COVID-19 pandemic with much needed cash flow. It is a positive stimulus package for those who want to re-start and revive their small businesses”, he concluded.
Affinbank’s Start-Up Banking proposition is one of the Bank’s unique product initiatives in the market, many of which have been internationally recognised for the bank’s committed excellence in supporting the development of SME community.