PETALING JAYA: CIMB Bank Bhd and CIMB Islamic Bank Bhd have extended their Covid-19 relief programmes to include financing for SMEs and larger businesses through its collaboration with Syarikat Pembiayaan Perniagaan Bhd (SJPP) and Danajamin Nasional Bhd.
With the collaboration, it will roll out the SJPP Government Guarantee Scheme Covid-19 (GGS Prihatin) and Danajamin Prihatin Guarantee Scheme (DPGS), which will complement the existing assistance provided by CIMB through the special relief facility in the early stages of the pandemic.
CIMB group commercial banking CEO Victor Lee Meng Teck said RM56 billion has been allocated for SMEs and larger businesses to help with liquidity, as announced by SJPP and Danajamin, to help sustain these businesses and hopefully to promote growth while operating in the new norm.
“With our strong network across the country, we hope to be able to reach out to a larger pool of businesses affected by the pandemic,” he said in a statement today.
“After a successful rollout of the SRF earlier on, we are optimistic that this additional help will ease the financial burden of these companies, and reignite their business in the face of challenges associated with restarting the economy and their recovery.”
CIMB Group explained that the GSS Prihatin is open to SMEs requiring working capital and capital expenditure financing starting from RM75,000 up to RM20 million.
Under the programme, SJPP provides an 80% guarantee coverage of up to 10 years with applications open until December, 31 2020 or until the scheme limit of RM6 billion is fully utilised.
It highlighted that Malaysian SMEs in all sectors are eligible for this scheme.
source https://www.thesundaily.my/business/cimb-rolls-out-two-new-financing-assistance-programmes-FL2629106
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