KUALA LUMPUR, March 20 (Bernama) -- Boost Bank has partnered with CGC Digital, a financial technology (fintech) subsidiary of Credit Guarantee Corporation Malaysia Bhd (CGC), to provide RM130 million in financing solutions for eligible underserved micro, small and medium enterprises (MSMEs).
Through this collaboration, CGC Digital will provide CGC’s guarantee cover bundled with Boost Bank’s MSME financing solutions, including a term loan facility and a revolving credit facility, to further strengthen MSME access to finance.
“This offering aims to reach out to thousands of MSMEs, bridging the critical financing gap they face while enabling them to enhance operations and seize growth opportunities,” Boost Bank and CGC Digital said in a joint statement today.
Boost Bank’s term loan financing offers MSMEs a simple application process with minimal documentation required for loan amounts starting from RM50,000.
The facility provides a financing tenure of up to 36 months with no early settlement fees, facilitating MSMEs in managing their cash flow effectively. Flexible repayment options are also available to align with business cash flow needs without penalties.
Meanwhile, the revolving credit financing gives MSMEs flexibility in managing cash flow and seizing business opportunities, with swift disbursement, enabling funds to be received as fast as two working days after loan approval.
-- BERNAMA
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