Do you know that your monthly financing installment payment can be made via JOMPay?
Credit Guarantee Corporation Malaysia Berhad (CGC), known as the ‘credit firm for the small man’ in its early years, was established in 1972 with the sole objective of assisting small and medium-size enterprises (SMEs) with potentially viable businesses but lacked collaterals and track record to obtain financing from the financial institutions. CGC has been bridging the gap between the financial institutions and the SMEs by providing guarantee on the financing facilities applied for by the SMEs and in the process helping them to secure the much-needed financing to grow and expand their business.
CGC has evolved with the times to stay relevant. It has transformed itself from a traditional guarantee provider into a financially sustainable institution, providing a wide range of products and services for greater SME outreach. It has forged strategic alliances with leading financial institutions to offer financing on a Portfolio Guarantee (PG) basis. Through the innovative Portfolio Guarantee, CGC is now able to expedite processing and approvals, enabling the SMEs to have relatively quicker access to the funds needed for their businesses. CGC has also ventured into Wholesale Guarantee to offer financing for unsecured businesses, a first in the country.
|In recent years, CGC has been facilitating SMEs to improve on their credibility and bankability in collaboration with its subsidiary, the Credit Bureau Malaysia (CBM). The Bureau, the premier provider of trustworthy and reliable credit information in Malaysia, assists SMEs with weak credibility to obtain financing by improving on their credit records, thus obtaining financing on their own merit.
Today, its core focus is not only to assist the potentially viable SMEs with access to financing but also to empower and make their businesses stronger. This is reflected in its new tagline ‘Powering Malaysian SMEs’, a step forward in creating greater impact and living up to its objectives in helping SMEs excel in business by exploring new frontiers.