- RM130 million allocated to Boost Bank’s financing solutions – Term Loan and Revolving Credit facilities which offer fast, flexible, accessible financing
- CGC Digital will offer CGC’s Guarantee Cover and develop digital guarantee products in tandem with Boost Bank’s MSME financing solutions
- Thousands of MSMEs across Malaysia to benefit from tailored financing solutions, with more innovations in the pipeline
KUALA LUMPUR, 20 MARCH 2025 – Boost Bank, the nation’s first homegrown digital bank has partnered with CGC Digital, a fintech subsidiary of Credit Guarantee Corporation Malaysia Berhad (“CGC”) to enhance support for eligible underserved Micro, Small, and Medium Enterprises (MSMEs) across Malaysia. Under this partnership, a total of RM130 million has been earmarked for Boost Bank’s financing solutions – Term Loan facility and Revolving Credit facility.
CGC Digital will provide CGC’s guarantee cover through bundling with Boost Bank’s MSME financing solutions to further strengthen MSME access to finance. This offering aims to reach out to thousands of MSMEs and bridge the critical financing gap these businesses face, while enabling businesses to enhance operations and capitalise on growth opportunities.
Boost Bank’s Term Loan financing offers MSMEs a convenient application process with minimal documentation required for loan amounts from RM50,000. The facility features a financing tenure of up to 36 months with no early settlement fees, facilitating effective cash flow management by MSME borrowers. Businesses can also enjoy flexible repayment options to be more in sync with their cash flow needs without incurring any penalty.
The Revolving Credit financing offers MSMEs flexibility to manage their cash flow and rise to business opportunities with ease with its swift financing disbursement feature, which enables businesses to receive funds in as fast as two working days upon approval of the loan.
Fozia Amanulla, CEO of Boost Bank, shared, “At Boost Bank, we understand the unique needs of MSMEs and the critical role financing plays in their growth. In line with our mission to drive financial inclusion and growth for underserved communities, we are committed to providing a platform that opens doors to growth, empowering businesses to overcome challenges and achieve success. This partnership with CGC Digital strengthens our ability to offer seamless, fast, and accessible financing solutions, empowering MSMEs to overcome challenges and seize growth opportunities. We will continue to innovate transformative offerings that will elevate the MSME landscape in Malaysia.”
“Boost Bank is our first digital bank partner, marking a significant milestone in our journey towards facilitating access to financing with digital-first partners. By collaborating with Boost Bank, we can offer seamless, efficient, and accessible financial products that cater to the unique needs of MSMEs,” said Yushida Husin, CEO of CGC Digital. “This partnership is a significant step forward in our mission to support underserved MSMEs by providing them with the financing they need to succeed. It also aligns perfectly with the purpose for which CGC Digital was established—collaborating with digital-first partners. We are excited about the potential this partnership holds and are eager to explore further collaborations with other digital-first players in the industry. Our goal is to continuously enhance our offerings, ensuring that we remain at the forefront of financial innovation.”
Boost Bank and CGC Digital are committed to addressing the needs of underserved MSMEs and promoting financial inclusion while ensuring MSMEs receive the support they need to thrive in today’s economy.
To learn more about Boost Bank, please visit www.myboostbank.co. For more information about CGC Digital, please visit www.cgcdigital.com.my.
