SME BANK OUTREACH PROGRAM FACILITATES ACCESS TO FINANCING
FOR SME ENTREPRENEURS
MELAKA : 2 June 2016 – SME Bank continues to facilitate access to financing for SME entrepreneurs in the southern region through the SME Bank Outreach Program which was launched by YB Datuk Chua Tee Yong, Deputy International Trade and Industry Minister, held at Melaka International Trade Centre (MITC), Melaka today.
SME Bank Group Managing Director, Datuk Mohd Radzif Mohd Yunus said, “The Outreach Program in Melaka is the 2nd series for this year and SME Bank targets to approve financing worth RM100 million to eligible companies that are present today for their business expansion. This program aims to improve the problem of access to financing faced by SMEs.”
He added, “This entrepreneur engagement program is important to us at SME Bank because it gives us an opportunity to learn about problems faced by entrepreneurs in expanding their businesses and also to meet their financing needs.”
SME Bank Southern Regional Centre represents three states, namely Johor, Melaka and Negeri Sembilan, has its own economic strength ranging from education, healthcare and oil & gas industry. Armed with these strengths, as at April 2016, SME Bank Southern Regional Centre has recorded a financing portfolio worth over RM860 million and assisted nearly 707 customers.
SME Bank Outreach Program is an annual event held throughout the country with the aim to reach out to the SME entrepreneurs directly. The Outreach Program for Southern Regional Centre today is the second location for the 2nd series of SME Bank engagement session with SME entrepreneurs, after the 1st session for Kuala Lumpur and Selangor Regional Centres which was held on 31 May 2016. The 2nd series of this Outreach Program will be continued to another 5 selected locations throughout the country.
Since its inception in 2005 until December 2015, SME Bank has approved RM23 billion worth of financing to more than 13,000 customers. The Bank’s Upward Migration program has successfully upgraded more than 630 SME businesses to a higher level. Meanwhile, CEDAR or Centre for Entrepreneur Development and Research Sdn. Bhd., a wholly-owned subsidiary of SME Bank, has successfully coached more than 24,000 participants in various SME development programs.
SME Bank’s commitment in assisting SMEs to grow and remain competitive have been recognized internationally by the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) in Apia, Samoa on 2 May 2016 when it received the awards for Outstanding Development Project for the Graduate Entrepreneur Fund (TUS) and Best Sustainability Report 2014. Datuk Mohd Radzif also received the Outstanding CEO Award 2016 from ADFIAP.