PETALING JAYA: Credit Guarantee Corp Malaysia Bhd (CGC) is offering its BizBina-i financing to assist micro, small and medium entrepreneurs (MSMEs) whose business operations have been affected by the recent floods.

       This financing scheme, availed to all CGC existing MSME customers, is geared to alleviate their financial burden and assist them in resuming their business operations following this natural disaster.

       BizBina-i is a direct financing scheme that enables MSMEs to secure financing up to RM200,000 (subject to terms and conditions) with a tenure of up to five years and six months (inclusive of a six-month moratorium on both the principal and profit).

       MSMEs can leverage the BizBina-i facility for working capital and/or asset acquisition which will enable them to repair and purchase assets for commercial use as well as to replace damaged assets during the floods.

       “The BizBina-i financing scheme aids our existing MSME customers as they face the brunt of the natural disaster,” CGC president and chief executive officer Datuk Mohd Zamree Mohd Ishak said in a statement.

       CGC said it was taking all measures to assist its MSME customers during this emergency, including assisting affected customers with rescheduling and restructuring of payments to ease their cash flow for business.

       Customers in need of flood relief financing and information are advised to contact CGC’s Client Service Centre at 03-7880 088 or email csc@cgc.com.my. MSMEs can also reach out to any of its 16 branches nationwide.