SJPP-UOB BizMoney offers up to RM1 mln collateral-free loan


21 August 2018

SJPP-UOB BizMoney offers up to RM1 mln collateral-free loan

KUALA LUMPUR, Aug 21 (Bernama) -- United Overseas Bank (Malaysia) Bhd (UOB Malaysia) has entered into an agreement with Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) to offer government-guaranteed financing to small and medium-sized enterprises (SMEs).

Chief executive officer of UOB Malaysia, Wong Kim Choong, said that the partnership will enable SMEs to obtain collateral-free loans of up to RM1 million through the SJPP-UOB BizMoney financial solutions.

This sum is twice the amount available to customers under the existing UOB BizMoney package. SJPP will guarantee up to 70 per cent of the loan through its Working Capital Guarantee Scheme and Services Sector Guarantee Scheme.

“According to our research, more than half of Malaysian SMEs expect to grow their revenue in 2018. While the majority aim to expand overseas, many also plan to invest in technology infrastructure to help them drive business performance.

“We also help SMEs increase their productivity for business growth. By providing scalable digital solutions, such as UOB SmartBusiness, we help them streamline and automate their administrative systems and processes,” he said in a statement.....

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