Alliance Bank Malaysia Berhad (Alliance Bank) 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 small-and-medium enterprises (“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 Acceler 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 on the other hand, 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 noble initiatives by the Government, the private sectors especially the financial institutions and other related players should also play their part.
