Ambank, Lazada to offer business financing for MSMEs
By Digital News Asia August 16, 2022
- To help MSMEs generate capital to expand their online businesses
- Collaboration enables companies to go from offline to online
AmBank has partnered with e-commerce platform Lazada to provide holistic solutions and additional facilities to further empower Malaysia’s micro, small and medium enterprises (MSMEs) sector.
In a statement, the bank said it is offering business financing up to US$448,000 (RM2 million) exclusively for local entrepreneurs and sellers on the Lazada Malaysia platform to grow and sustain their online businesses.
Aaron Loo, managing director for retail banking at AmBank, said many MSME businesses have been struggling, some even closing down their physical stores and finding alternate channels for business survival such as e-commerce throughout the last two years since the pandemic hit our country.
“With the shift of consumer behaviour and demographics to online shopping, we believe the demand for e-commerce businesses is also increasing.
“Through our joint effort with Lazada, we hope that this financing solution can assist many of the local sellers on Lazada, giving the MSMEs opportunity to generate capital to expand their online business and bounce back from the economic impact of the outbreak,” he said.
Loo said the collaboration will also open up opportunities for AmBank merchants to expand their business from offline to online on Lazada’s fast growing digital commerce platform and we are very excited to help these merchants embark on their digital journey.
Darren Rajaratnam, chief operating officer, Lazada Malaysia, said, "The company is optimistic about this strategic partnership with AmBank, as it will strengthen the e-commerce ecosystem, and address the financial pain points faced by many MSMEs today.
“With the microloans and financial solutions from AmBank, our local sellers would be able to build up their capital and grow their online businesses.
“We are also looking forward to further collaborate with AmBank in supporting more MSMEs to digitalise their businesses, narrowing the digital gap and bringing more local entrepreneurs onboard under Lazada Malaysia’s Hari-Harimau New Seller Kickstarter Package,” he said.
AmBank said its financing solutions will be made available for Lazada sellers under the Lazada Service Market, where a range of affordable third-party services, as well as essential supplies, are accessible to assist the sellers’ online store operations.
Click here for more information on AmBank financing that have been designed exclusively for Lazada merchants.
Related Stories :