Kuala Lumpur, November 25 – Maybank has now expanded access to its SME Digital Financing solution on Maybank2u to petty merchants and micro firms, as part of the bank’s ongoing efforts to help the business community, particularly smaller SMEs, who are the lifeblood of the Malaysian economy.
This current approach is intended for startups that have been in operation for at least a year and have no collateral.
According to Dato’ Khairussaleh Ramli, Group President & CEO of Maybank, the launch of this solution is opportune owing to possible cash flow issues faced by micro firms as a result of increased macroeconomic headwinds and rising inflationary pressures in the operational environment.
“The reduction in the minimum funding granted to SMEs from the original minimum value of RM10,000 launched in September 2020 allows us to access a broader business category with a micro loan facility, including small merchants, hawkers, and food peddlers, among others.
“With this innovative option, the monthly payback may be as low as RM68, in keeping with our efforts to alleviate our customers’ burden,” Dato’ Khairussaleh Ramli added.
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