Funding Societies and Credit Guarantee Corporation Malaysia Sdn Bhd (CGC) signed an SME Portfolio Guarantee (SME PG). This joint venture provides easier access to finance for SMEs in Malaysia to enable them to grow better.

They will lead Digital Solutions in launching the SME Portfolio Guarantee. The first tranche of financing is up to RM10 million. They will assist creditworthy but underserved SMEs. This partnership is also the first strategic partnership program between a Malaysian credit guarantee agency and a digital financing platform for SMEs.

Eligible individuals can enjoy the lowest interest rates available on Funding Societies' existing portfolio of similar financing products

Funding Societies
Image Credit: Malaysiakini

Under the agreement, eligible persons can apply for amounts ranging from RM50,000 to RM500,000. Those who qualify for the SME Portfolio Guarantee can obtain longer financing terms and also enjoy the lowest preferential interest rates for similar financing portfolios available at Funding Societies. This will enable them to ease their cash flow in the post-epidemic era and gradually drive their business forward.

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