Ambank, Lazada to offer business financing for MSMEs

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  • To help MSMEs produce capital to increase their online businesses

  • Collaboration enables companies to visit from offline to online

Ambank, Lazada to offer business financing for MSMEs AmBank has partnered with e-commerce platform Lazada to provide holistic solutions and additional facilities to further empower Malaysia’s tiny, small and moderate enterprises (MSMEs) industry.  

In a statement, the bank said it is providing business financing up to US$448, 000 (RM2 million) exclusively intended for local entrepreneurs and sellers on the Lazada Malaysia platform to grow and sustain their online businesses.

Aaron Loo, handling director for retail banking at AmBank, said many MSME businesses have been striving, some even closing straight down their physical stores and finding alternate channels for company survival such as e-commerce throughout the last two years because the pandemic hit our own country.  

“With the shift of consumer behaviour and demographics to online shopping, we all believe the need for e-commerce businesses is also increasing.

“Through the joint effort along with Lazada, we hope that this financing solution can assist many of the local sellers on Lazada, providing the MSMEs chance to generate capital in order to expand their online business and bounce back from the economic impact from the outbreak, ” he or she said.

Loo said the collaboration will also open up opportunities for AmBank merchants to expand their business through offline to online on Lazada’s fast growing digital business platform and we are extremely excited to help these merchants embark on their particular digital journey.

Darren Rajaratnam, chief operating official, Lazada Malaysia, stated, “The company will be optimistic about this proper partnership with AmBank, as it will improve the e-commerce ecosystem, and address the financial pain points faced by many MSMEs today.  

“With the particular microloans and financial solutions from AmBank, our local sellers would be able to build up their particular capital and develop their online businesses.

“We may also be looking forward to further collaborate with AmBank in supporting more MSMEs to digitalise their businesses, narrowing the particular digital gap and bringing more local entrepreneurs onboard under Lazada Malaysia’s Hari-Harimau New Seller Kickstarter Package, ” he said.  

AmBank said its financing solutions will be made available for Lazada sellers under the Lazada Service Market , where a range of inexpensive third-party services, in addition to essential supplies, are accessible to assist the particular sellers’ online store operations.  

Go here for more information on AmBank financing that have been designed exclusively for Lazada merchants.