SME Bank disburses up to RM70m loans to online biz

KUALA LUMPUR: SME Bank has disbursed up to RM70 million, to-date, in financial assistance under the bank’s Online Business Financing programme.
Speaking to reporters after launching the SME Bank Xcess 2017 yesterday, group managing director Datuk Mohd Radzif Mohd Yunus said the bank had allocated RM200 million for online business financing since 2016.
He also said the bank aimed to launch the Business in Digital (BID-IT) financing programme next month.
“This is another programme designed to assist young entrepreneurs, aged between 20 and 35, to expand their existing small businesses and to go into the digital and e-commerce platforms,” he added.
He said BID-IT participants would have to undergo a comprehensive development programme before getting financial assistance from SME Bank.
“We’re confident the programme would receive a positive take-up rate this year, especially after the formation of the Digital Free Trade Zone.
“We expect to achieve our target as we see a growing trend among the younger entrepreneurs eager to conduct business via the digital platform,” Mohd Radzif said.
Meanwhile, he said about 1,500 small and medium entrepreneurs had participated in the SME Bank Xcess programme, which included sharing of experiences, success stories, forums and one-to-one consultancy services by SME Bank, selected agencies and selected corporations.
Mohd Radzif added that under the programme, SME Bank approved financing of up to RM1 billion last year. – Bernama