CIMB allocates $12m for micro SMEs

Micro SMES may received financing of up to $11,991.

CIMB Bank Berhad and CIMB Islamic Bank Berhad has allocated $12m (RM50m) for micro small and medium enterprises (SME) via the CIMB SME Micro Financing-i, an Islamic working capital programme, an announcement revealed.

Under the CIMB SME Micro Financing-i, micro SMEs may receive financing of up to $11,991 (RM50,000).

SMEs may sign up for micro financing through Credit Guarantee Corporation Malaysia Berhand’s (CGC) imSME platform. Launched in 2018, imSME enables SMEs to access fast and real-time information on financing options.The platform will be made available at all CIMB branches nationwide by year-end.

Other collaborations between CIMB and CGC include a partnership sealed in April 2019 to provide SMEs access to $480m (RM2b) in financing through CGC’s Portfolio Guarantee-i scheme.

Separately, CIMB also recently launched the CIMB SME Renewable Energy Financing to help SMEs in Malaysia. This scheme covers 100% financing – from as low as $4,796 (RM20,000) and up to $240,000 (RM1m) – for SMEs to install solar photovoltaic systems on their rooftops to offset energy cost.

Also Read

Malaysia's private sector credit grows 5.4% in April

Hong Kong mortgage loans drawdown rises by 9.9%

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

What is Lorem Ipsum?

What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Evergreen Group obtains financing license to expand in Malaysia