LENDING & CREDIT | Tony Chua, Malaysia

RHB and Credit Guarantee Corporation to enhance SME financing

The tie-up’s Enhancer Direct scheme to assist viable SMEs that are unable to secure financing due to insufficient collateral.

Credit Guarantee Corporation Bhd (CGC) and RHB Bank Bhd have formalised a strategic tie-up to further enhance the small and medium enterprises (SMEs) access to financing through it's new scheme, the Enhancer Direct.

The Enhancer Direct is a credit guarantee scheme that is designed to assist viable SMEs that are unable to secure financing due to insufficient collateral and track record, to avail of a range of banking products and services directly through CGC's branches nationwide.

CGC Managing Director, Datuk Wan Azhar Wan Ahmad said with a RM200 million portfolio, the new scheme is expected to benefit about 800-1000 SMEs across all economic sectors in Malaysia.

"The development of a healthy and resilient (SME) community requires sound financial infrastructure that offers a wide spectrum of innovative products and services," he said at the signing ceremony between CGC and RHB Bank, in Petaling Jaya on Wednesday.

He added these products must exemplify reliability, flexibility and competitiveness, which are the qualities that SMEs consider as they explore their financing options to further their business interest.

"Given today's fast-paced economy, having fast access to financing is an important consideration for entrepreneurs, who have to move quickly to seize available opportunities and remain competitive," he said.

View the full story in Bernama.

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