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apple developer:Maybank, CGC target RM300m SME loan facility

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Maybank group chief executive officer for community financial services, Datuk John Chong (pic), said the introduction of the facility is timely, given that many SMEs are currently facing liquidity issues after months of disruption to their business. PETALING JAYA: Maybank and Credit Guarantee Corp (CGC) target to disburse the first RM300mil of the newly-launched SME Clean Loan/Financing Plus within a year to assist small and medium-sized enterprises (SMEs) in their cash flow management during these trying times. In a joint statement, the companies said the hybrid loan facility, which is the first in the market, consists of a combination of 30% term loan and 70% overdraft facility, with no collateral required as 70% of the total loan is guaranteed by CGC. The financing amount offered is RM250,000 to RM1mil for a minimum tenure of three years up to seven years. It is available to all Maybank customers as well as those new to the bank. Maybank and CGC have allocated RM1bil for this facility. It is available in both Islamic and conventional financing schemes. Maybank group chief executive officer for community financial services, Datuk John Chong, said the introduction of the facility is timely, given that many SMEs are currently facing liquidity issues after months of disruption to their business.,

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