Affin Group launches Financing Scheme for Women Entrepreneurs

An initiative has been launched by Affin Group on May 29, 2024 in order to aid women entrepreneurs in addition to women-controlled businesses controlled to grow and manage their companies as they scale up.

The initiative entitled as ‘Affingem Financing Scheme’ shall support women in business and benefit them in their fields. According to the bank, their unwavering support will be there towards underserved segments, especially women entrepreneurs as part of its environmental, social and governance initiatives.

The scheme has been designed for working capital as well as capital expenditure purposes along with collateral-free financing up to RM1 million. It also includes affordable financing with low profit rates as base lending rate and base financing rate plus 0.5 per cent. In addition, coverage of ancillary costs will also be there while financing up to 5 per cent of the approved financing limit for insurance and takaful.

Datuk Wan Razly Abdullah, Affin Bank president and CEO stated, “Affin has always been a steadfast supporter of the SME community. Through this initiative, we aim to empower women in achieving their business goals and drive economic growth by providing essential tools and resources. This aligns with our vision of becoming the most creative and innovative financial company in Malaysia.”