This includes PGGS, designed to provide financing of up to RM20m for SMEs without collateral
by RUPINDER SINGH
ALLIANCE Bank Malaysia Bhd, in partnership with government-owned Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP), has announced the extension of RM1 billion in financing through guarantee schemes to support the growth of small-and-medium enterprises (SMEs).
The strategic collaboration aims to provide a boost to SMEs by facilitating access to funding opportunities, it said in a statement last Friday.
Under this partnership, a range of guarantee schemes will be offered to SMEs.
This includes the PEMULIH Government Guarantee Scheme (PGGS), designed to provide financing of up to RM20 million for SMEs without collateral, enabling them to meet capital expenditure, daily operations, and trade activities.
Other schemes such as the Working Capital Guarantee Scheme (WCGS) and WCGS-Start Up (WCGS-SU) will cater to the diverse business requirements of growing SMEs across all sectors.
Alliance Bank group chief SME and commercial banking officer Raymond Chui, expressed the bank’s commitment to supporting SMEs by providing fast, convenient, and personalised financing solutions.
“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,” he said.
SJPP COO Juanita Rusmini Abdul Jalil noted the importance of collaboration among various stakeholders to bolster economic growth, particularly in the SME sector.
She said the collaboration between SJPP and Alliance Bank, in providing financing and guarantees, aligns with the government’s initiatives to foster inclusivity in SME growth and create a conducive platform for businesses.
She urged financial institutions and related entities to support these government efforts and explore innovative solutions to address the financing challenges faced by SMEs.
In addition to the guarantee schemes, Alliance Bank and SJPP have facilitated SMEs’ access to Bank Negara Malaysia’s Low Carbon Transition Facility (LCTF) scheme.
This initiative enables SMEs to secure collateral-free financing for the installation and purchase of solar energy systems at affordable rates.
The bank remains dedicated to promoting environmental, social, and governance (ESG) practices and encourages the adoption of renewable energy generation.
With a customer-centric approach, Alliance Bank said it continues to innovate its products and services, aiming to provide better, faster and personalised banking experiences.
Supported by SJPP, the bank is expanding its reach to key business segments such as medium-sized businesses, micro-enterprises, and ESG-focused SMEs, offering hassle-free and customised solutions tailored to their specific needs.
- This article first appeared in The Malaysian Reserve weekly print edition