SME Bank promotes govt guarantee scheme to help SMEs

SME Bank, as the leader in providing financing for the SMEs, has approved close to RM190m under this scheme

By TMR / Pic By SME Bank

SME Bank’s initiatives to uphold its mandated role of nurturing and developing the nation’s small and medium enterprises (SMEs) has paid off when the bank was accorded with the Special Awards from Syarikat Jaminan Pembiayaan Perniagaan (SJPP).

As an agency under the Ministry of Entrepreneur Development and Cooperatives (MEDAC), this is the third time that SME Bank is receiving recognition from SJPP.

MEDAC Minister Datuk Seri Mohd Redzuan Md Yusof said: “SME Bank, as the leader in providing financing for the SMEs, has approved close to RM190 million for 195 companies under this scheme.

“This initiative has further supported the government’s aspiration to create a conducive ecosystem for SMEs, thus igniting the growth of the sector as envisioned in the National Entrepreneurship Policy 2030 and Shared Vision 2030.”

SME Bank group president and CEO Aria Putera Ismail said last year was the year where the bank had aggressively promoted access to financing for SMEs.

“Fourteen outreach programmes were held last year where it benefitted 1,200 SMEs. SME Bank also launched two initiatives under the National SME Digital Platform namely the ScoreXcess, a one-stop platform for micro and small entrepreneurs to obtain financing and ODELA, a specialised B2B marketplace platform,” he added.

In addition to using digital approach, SME Bank’s entrepreneur development initiatives, such as the Upward Migration Programme, recorded 576 achievements in four parameters such as growth in sale, increased number of employees, technology adoption, as well as venturing into global markets. The subsidiary of SME Bank, Centre for Entrepreneur Development and Research Sdn Bhd, had also organised 126 entrepreneurship training sessions involving more than 2,000 entrepreneurs in 2019.

The Special Award was presented by Finance Minister Lim Guan Eng at the official launch of the government guarantee scheme for SMEs by SJPP in Kuala Lumpur recently.