PETALING JAYA: Alliance Bank Malaysia Bhd is offering special financing facility, moratorium on loan/financing repayment and loan restructuring to customers affected by the Covid-19 outbreak.
“Business owners can apply for immediate collateral-free financing facility of up to RM1 million per company to alleviate short-term cash flow situation. Only three basic documents are required for the loan application, and disbursements can be made in as fast as one working day,“ Alliance Bank group CEO Joel Kornreich (pix) said in a statement.
Customers impacted by Covid-19 are also eligible to apply for deferment of their loan instalments or financing servicing (of principal and interest/profit), up to six months.
The bank is also offering loan restructuring and rescheduling options for loan/financing, with the flexibility to also apply for waiver of late charges on instalment.
“This is a challenging time for everyone. We know that business owners are struggling to sustain their business cash flows, and individuals are also financially impacted by the current situation. We have extended financial assistance to those in need,” said Kornreich.
To date, the bank has approved financing of close to RM70 million to affected businesses and consumers under several financial relief initiatives, one of which being the Covid-19 special financing facility for SMEs.
Customers can also perform online banking, including applying for a personal loan via the Alliance Bank website.
As a designated essential service under the movement control order by the government, the bank is open for business as per normal banking hours.
“All Alliance Bank customers will receive a fee rebate for each ATM MEPs transaction beginning March 26, 2020 for a month,” Kornreich added.