SME LENDING OFFICERS UNDERGO CREDIT GUARANTEE SERVICES TRAINING

Nineteen staff members from Kina Bank’s SME Lending Department participated in a training session on utilizing Credit Guarantee Corporation (CGC) services to support local SMEs, last Wednesday.

The training, facilitated by CGC’s Business Operations Manager, Mr. Tony Deklin, focused on the eligibility criteria for SMEs, the processes involved in leveraging CGC’s guarantee services, and how these services can enhance SME lending practices.

The one-day session aims to equip Kina Bank’s lending officers with a better understanding of the available products, the steps and processes involved, and how to utilize CGC products effectively.

Kina Bank’s Head of Regional Business Banking & SME, Mr. Wong Khar Fye, who was also a participant of the training commends the training, saying, “This collaboration with Credit Guarantee Corporation is a win-win.

Traditionally, we turn down SMEs without sufficient securities. With CGC’s support, we can now bridge that gap”
Mr. Wong further emphasized the importance of supporting SMEs. “Every major business we see today was once an SME,” he said.

Kina Bank is one of 13 Licensed Financial Institutions who has partnered with Credit Guarantee Corporation to provide business loans to local SMEs.

Established under the Government’s SME Policy, CGC’s primary role is to encourage greater lending to local SMEs. By doing so, CGC aims to help small businesses access the finance they need to grow and thrive.