by NURUL SUHAIDI / pic MUHD AMIN NAHARUL

AMBANK Group is offering business financing up to RM2 million for local entrepreneurs and sellers on Lazada Malaysia to empower and sustain their businesses.

This initiative is a joint effort with Lazada to provide additional facilities to further empower Malaysia’s struggling micro, small and medium enterprises (MSMEs) sector.

AmBank retail banking MD Aaron Loo said this financing solution can give MSMEs the opportunity to generate capital to expand their online business and bounce back from the economic impact of the Covid-19 pandemic.

“Many MSME businesses have been struggling, some even closing down their physical store and utilising the alternate channels for business survival such as e-commerce throughout the last two years,” he said in a statement today.

He believed that the demand for e-commerce will continue to grow aligned with the shift in customer behaviour and demographics to online shopping.

“This collaboration will also open opportunities for AmBank merchants to expand their business from offline-to-online on Lazada and we are very excited to help these merchants embark on their digital journey,” he added.

Meanwhile, Lazada Malaysia CEO Darren Rajaratnam said the strategic partnership with AmBank will strengthen the e-commerce ecosystem and address the financial difficulties faced by many MSMEs today.

“With the microloans and financial solutions from AmBank, our local sellers would be able to build up their capital and grow their online businesses,” Darren said.

Looking forward, Lazada also aims to collaborate with AmBank in supporting more MSMEs to digitalise their businesses, narrowing the digital gap and bringing more local entrepreneurs onboard under Lazada Malaysia’s Hari-Harimau New Seller Kickstarter Package.

AmBank’s financing solutions will be made available for Lazada sellers under the Lazada Service Market, where a range of affordable third-party services, as well as essential supplies, are accessible to assist the sellers’ online store operations.