CGC set to provide more loans for SME sector
Published on: Tuesday, August 04, 2015
Selangor: Credit Guarantee Corp Bhd (CGC) aims to increase loan disbursements to small and medium enterprises (SMEs) in the second half of 2015, its president/chief executive officer Mohd Zamree Mohd Ishak said. CGC, which provides guarantee to loans obtained by small and medium enterprises (SMEs), has made an encouraging performance by approving 3,100 loans valued at RM2.2 billion in the first half of this year from the target of RM3 billion for the whole year. "We continue to receive applications despite the challenging business conditions, especially in the services sector, and we are ready to provide the facilities," he told reporters at an Aidilfitri open house hosted by CGC here Monday.
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Mohd Zamree said CGC strived to increase its financial assistance to SMEs by between 10 and 15 per cent. He said about 1,300 loans worth RM520 million were approved for Bumiputera SMEs from January to June 2015 from the target of RM900 million for the whole year. CGC will also introduce two new products in the fourth quarter of this year, he said, adding that the products were at the finalisation stage. Stay up-to-date by following Daily Express’s Telegram channel.
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Under the agreement, AmBank allocates RM300 million to further enhance the SME financing for five high-growth sectors, namely wholesale and retail trade; manufacturing; education, healthcare; and construction and resources. – Bernama
