CIMB Bank’s Support to SMEs Extends to the eCommerce Space via Collaboration with Lazada Malaysia
19 June 2016
Exclusive partnership enables Lazada merchants to apply for SME loans
Kuala Lumpur: CIMB Bank Berhad and Lazada Malaysia (“Lazada”) have signed a partnership agreement to offer CIMB Bank’s Enterprise Clean Loans (ECL) to Lazada merchants to support the expansion of Malaysian SMEs.
The collaboration is a joint effort by CIMB Bank and Lazada to provide a holistic solution and added convenience to empower Malaysian SMEs to grow their business. This customised ECL, a non-collateral financing with competitive interest rates, offers financing of up to RM300,000 per company with loan tenures of up to five years. It offers a 48-hour approval timeline with a loan disbursement within 24 hours upon full document execution, giving companies faster and easier access to the funds they need to fuel their business growth.
“We are excited by the prospect of helping Malaysian eCommerce companies grow through this partnership with Lazada. Apart from contributing to the development of the Malaysian SME sector, which is expected to contribute 41% to the country’s GDP by 2020, we are also enabling more merchants to embrace Digital Banking not only from a retail sales perspective, but also in terms of financing their businesses and availing themselves of our business advisory for their operations through digital offerings such as Clicks/BizChannel, Plug n Pay and C@W. In line with CIMB Group’s T181 strategy, this collaboration is another initiative that strives to meet the evolving and growing digital needs of our customers, particularly in the eCommerce space,” said Tengku Dato’ Sri Zafrul Aziz, Group Chief Executive, CIMB Group.
CIMB Bank has customised and streamlined the approval and disbursement process for top-tiered Lazada merchants, providing them with faster access to financing. With such simplified application process and fast turnaround time for approval and disbursement, these merchants can truly focus on building their business and more importantly, enhance their speed-to-market in the ever-evolving and fast-moving digital eCommerce space.
Hans-Peter Ressel, CEO of Lazada Malaysia said, “At Lazada, we are fully committed to supporting the growth of our home-grown SMEs through hassle-free fulfillment services, eCommerce trainings as well as marketing and analytical support. With approximately 12,000 sellers on board, this is a strong testament to our track record of helping merchants succeed online. The partnership with CIMB Bank affirms the strategic choices Lazada has made in building the eCommerce ecosystem in Malaysia. It will bring significant synergies by giving Lazada merchants the option to enhance their online business and provide their customers with the best choices, convenience and value.”
SMEs which are interested to apply for ECL or any of CIMB Bank’s business financing solution may contact CIMB Bank at +603 2619 1463 or visit www.cimbbank.com for more information.
1T18 is CIMB Group’s mid-term strategy to recalibrate and strengthen its core businesses, with the aim of improving the Group’s position as the region’s leading ASEAN universal bank
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