by BERNAMA / pic by BLOOMBERG

AFFIN Bank Bhd has launched the BizDana-i Financing Scheme, a financing scheme worth RM15 million specifically for start-up businesses, that is guaranteed by Credit Guarantee Corporation Malaysia Bhd.

Its president and chief executive officer, Datuk Wan Razly Abdullah Wan Ali said eligible start-up entrepreneurs can begin applying, effective Oct 15, 2020, and get up to RM300,000 in financing with a repayment of up to 84 months.

He said Affinbank’s BizDana-i financing scheme aims specifically to assist ambitious start-up entrepreneurs who have feasible projects and promising business plans with the necessary financing, as early as six months in operations, with no collateral needed.

“This initiative will help boost their working capital, expand business operations and support growth. While there are multiple financing choices available for small and medium enterprise (SME) entrepreneurs and start-ups, they are often underserved as they are considered the riskier segment,” he said in a statement today.

He said with an 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.

He said 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 the COVID-19 pandemic with much-needed cash flow.

“It is a positive stimulus package for those who want to restart and revive their small businesses”, he added.

More information on BizDana-i Financing Scheme can be obtained from Affin Bank Berhad’s official website at www.affinbank.com.my or at [email protected] or call 03-4142-3916.