In January 2018, Credit Guarantee Corporation (CGC) Malaysia is set to launch Malaysia’s first web-based loan/financing referral platform. On 18th August 2017, Credit Guarantee Corporation (CGC) teamed up with Juris Technologies to develop a solution that would make it easier for SMEs to search and apply for loan and financing. The objective was to create an easily accessible, web-based system that would help micro, small and medium enterprises in Malaysia find loan and financing with zero hassle.
Traditionally, SMEs could only apply for loan and financing at physical locations of banks and financial institutions. With CGC’s new platform, small business owners can now pick and choose loan/financing options that suits them best, anytime, anywhere; all from CGC’s online referral platform. SMEs can provide details about their required financing via the referral platform. Based on those details, the loan/financing referral platform powered by Juris Access will display all the matching offerings from top banks in Malaysia.
Instead of going from bank to bank in search of loan and financing, SMEs can now look through all similar offerings from different banks under one platform. This referral platform aims to make search and application process for loan and financing efficient and hassle-free for SMEs.
Launching this web-based platform is an extension of CGC’s overall efforts to facilitate growth and expansion of SMEs in Malaysia. Since its establishment in 1972, CGC has assisted in financing over RM63.7 billion to over 445,217 SMEs nationwide.