Kuala Lumpur, 22 October 2020 – Affin Bank Bhd today launched BizDana-I, a financing scheme worth RM15 million specifically for start-ups.
In a statement today, the bank said the BizDana-i financing scheme, which is guaranteed by Credit Guarantee Corporation Malaysia Bhd (CGC), aims specifically to assist ambitious start-up entrepreneurs who have feasible projects and promising business plans, with the necessary financing as early as six months in operations, with no collateral needed.
This initiative will help boost their working capitals, expand business operations and support growth, said the bank.
“We believe that every feasible business should be given an opportunity to thrive and survive, including start-ups. While there are multiple financing choices available for small and medium enterprises, start-ups are often underserved as they are considered the riskier segment.
“With appropriate risk mitigating process in place, Affin Bank will continue its stance as the preferred bank for this emerging segment by offering them the necessary resources to nurture, build and grow inclusively,” said its president and chief executive officer Datuk Wan Razly Abdullah Wan Ali.
Eligible start-up entrepreneurs can start applying effective Oct 15 and get up to RM300,000 in financing with a repayment of up to 84 months, said the bank.
-The Edge Markets