Alliance Bank Malaysia Berhad has strengthened its strategic partnership with Minister of Finance Incorporated’s wholly-owned Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) to extend another RM1 billion in financing through guarantee schemes to accelerate the growth of SMEs.
The guarantee schemes covered in this partnership include the PEMULIH Government Guarantee Scheme (PGGS) which will allow businesses without collateral to access financing of up to RM20 million to fund their capital expenditure, daily business operations, and trade activities.
Other schemes that will also be offered include the Working Capital Guarantee Scheme (WCGS) and Working Capital Guarantee Scheme – Start Up (WCGS-SU), which aim to help SMEs across all sectors meet different business requirements as they grow.
“Alliance Bank has always been focused on helping SMEs grow through the development of fast, convenient and personalised solutions to meet the dynamic needs of this segment. The result is that the Bank successfully widened its market share over the last few years.
“Under the Acceler8 strategy, we continue our velocity within this segment and this extended partnership with SJPP allows us to enable the growth of local SMEs through targeted financing solutions.
“We look forward to participating actively in SJPP schemes to provide unique value propositions to meet SMEs’ needs at every stage of their life cycle, and help them achieve their business goals,” said Raymond Chui, Group Chief SME & Commercial Banking Officer of Alliance Bank.
Juanita Rusmini Abdul Jalil, Chief Operating Officer of SJPP said that SJPP, via the guarantee schemes, is also complementing the Government’s effort to boost the economic growth especially the SME sector.
“Our government has implemented many strategic initiatives and policies to enhance inclusivity in SMEs’ growth while continuing to pursue its endeavours in creating a well-laid platform to initiate and encourage businesses for the SMEs.”
To support these initiatives, she noted that the private sectors especially the financial institutions and other related players should also play their part.
Juanita said: “It is important that all related parties play a role in reaching out and offering assistance to SMEs and continue to support the nation’s economic agenda.
“I strongly believe that the collaboration between SJPP and Alliance Bank in providing financing and guarantees by the Government would encourage many related parties to become more innovative and forward-looking to continuously explore the best solutions to address the challenges faced by SMEs in gaining greater access to financing.”
Additionally, Alliance Bank and SJPP have also facilitated access to Bank Negara Malaysia’s Low Carbon Transition Facility (LCTF) scheme for SMEs transitioning towards more sustainable business practices.
The LCTF allows SMEs to obtain collateral-free financing for the purchase and installation of solar energy systems, at affordable financing rate. The Bank remains committed to help businesses adopt ESG practices in order to gain competitive advantages and aims to promote take up of LCTF to encourage renewable energy generation.
Driven by a customer-centric mindset, the Bank is continuing to scale its product offerings by innovating its products and services to make banking better, faster and more personalised. With the support from SJPP, the Bank is also expanding its reach to key business segments that include medium-sized businesses, micro enterprises and ESG-focused SMEs, by offering them hassle-free and customised solutions to meet their needs.
For more information on this collaboration or the Bank’s products and services, please visit https://www.alliancebank.com.my/financing/business/loans.
