CGC Digital, B2B Finpal Launch Short-term Financing For MSMEs
KUALA LUMPUR, June 9 (Bernama) -- Credit Guarantee Corporation Malaysia Bhd’s (CGC) financial technology subsidiary, CGC Digital, has partnered with peer-to-peer (P2P) financing platform B2B Finpal to launch a short-term financing scheme aimed at improving capital access for micro, small and medium enterprises (MSMEs).
In a joint statement today, CGC Digital and B2B Finpal said the collaboration introduces a tailored credit guarantee to support B2B Finpal’s purchase financing product.
The scheme offers financing of up to RM300,000 to help MSMEs fulfil larger purchase orders, with a short tenure of up to 120 days to ease procurement without immediate financial strain. Approvals are promised within five days.
“The partnership marks the first phase of a broader, scalable programme, with both parties committed to co-developing additional financing products to further enhance financial inclusion for MSMEs across Malaysia.
“The Purchase Financing product will also be made available on imSME, Malaysia’s first online financing referral platform for MSMEs operated by CGC Digital, to improve visibility and accessibility, enabling more businesses to identify and secure suitable financing solutions,” they said.
CGC Digital chief executive officer Yushida Husin said the partnership is part of the company’s efforts to improve access to financing for MSMEs by working with alternative finance providers.
“By embracing innovation and collaboration, we are building a more inclusive financing ecosystem that meets the evolving needs of Malaysian MSMEs,” she said.
For more information, the public may visit www.cgcdigital.com.my, www.imsme.com.my, or www.b2bfinpal.com.
-- BERNAMA