Affin launches Affingem to support women entrepreneurs
Affin Group yesterday launched Affingem Financing Scheme, an initiative to help women entrepreneurs and businesses controlled by women to grow and manage their operations as they scale up.
Affin Bank said it supports underserved segments, particularly women entrepreneurs, as part of its environmental, social and governance initiatives.
Affingem is designed for working capital and capital expenditure purposes with collateral-free financing up to RM1 million, affordable financing with profit rates as low as base lending rate and base financing rate plus 0.5%, coverage of ancillary costs such as guarantee fees, legal fees and stamp duty, additional financing up to 5% of the approved financing limit for insurance and takaful. This financing scheme is also available for businesses as young as six months.
Affin Bank president and CEO Datuk Wan Razly Abdullah said, “Affin has always been a steadfast supporter of the SME community. Through this initiative, we aim to empower women to achieve 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.”
Meanwhile, the bank hosted Affin BizChat, a flagship interactive business talk supporting entrepreneurship, delving into market trends, and offering valuable business tips. The theme of “Empowering Women in Business”, was focused on igniting women’s entrepreneurial spirit and supporting women-led ventures.
Affingem was launched by Deputy Minister in the Sarawak Premier’s Department, Datuk Sharifah Hasidah Sayeed Aman Ghazali.