15 November 2024

Maybank launches Maybank myimpact SME – a comprehensive suite of financial inclusivity solutions to accelerate meaningful and impactful growth for SMEs

Singapore – Maybank Singapore (Maybank) rolls out myimpact SME program – a Maybank Group-wide initiative to empower SME customers in Singapore, Malaysia, Indonesia, Philippines and Cambodia, with values-based solutions to support small and medium-sized enterprises (SMEs).

Syed Ahmad Taufik Albar, Group CEO, Community Financial Services of Maybank, said, “Being one of the biggest financial institution in the region, Maybank deeply understands that it takes a lot to raise a successful and sustainable business. Maybank is there at the beginning of an entrepreneur’s journey and will continue to evolve with our SME customers. Maybank myimpact SME caters to business at every growth stage with a comprehensive suite of financial and non-financial solutions. Our commitment to financial inclusivity and sustainable impact sets us apart, aligning with our long-term aspiration of Humanising Financial Services."

As a leading Bank for entrepreneurs, the Maybank myimpact SME offers tailored financial and business advisory solutions to future-proof businesses and to bring about a positive economic impact. It is a collaborative ecosystem of different partners* working together, to help SMEs accelerate their sustainability journey – a timely initiative as the country gears up towards Singapore’s Green Plan 2030 roadmap for an environmentally sustainable future.

To equip SMEs for streamlined ESG data collection in sustainability reporting, SMEs will receive funding from the Bank for Gprnt sustainability reporting such as emissions reporting, green and sustainability-linked financing, climate risk management, and sustainable supply chain reporting on real-time basis, to better support their risk management and net-zero transition efforts.

Mr Alvin Lee, Maybank Singapore Country CEO said, “At Maybank, we are committed to drive positive, impactful change to support our clients' business growth. We are aware that many SMEs lack the resources and know-how to embed sustainability in their business operations and they juggle multiple pressing concerns. As the key contributor of Singapore's economy, they play a critical role toward environmental sustainability. Maybank myimpact SME as a collaborative ecosystem, will be a crucial enabler to drive sustainable growth and innovation by offering tailored insights and guidance to address their specific needs and challenges. By empowering them through sustainability capability building and partnering with them on their decarbonisation journey, SMEs can build resilient operations and stay competitive in an increasingly eco-conscious market. We are very pleased to collaborate with various partners who share our commitment to help SMEs meet their sustainability goals.”

Mr Benjamin Soh, Founder and Managing Director at ESGpedia, said, “As large corporates prioritise sustainable procurement, it is undeniable that SMEs must adapt and embrace sustainability to remain competitive. We are delighted to partner with Maybank to enable SMEs to take the first step towards sustainability through Maybank myimpact SME ecosystem. With ESGpedia's online enabler tool, SMEs can calculate their carbon emissions and report core ESG metrics, aligned with SGX requirements and international frameworks, to demonstrate their commitment to sustainability, and putting them at an advantage for sustainable financing and business opportunities."

As part of the Maybank myimpact SME initiative, Maybank will also offer additional support for women entrepreneurs through the HERpower program to help them unlock new business opportunities, access tailored financing solutions, and receive exclusive access to networking events and workshops. They will also enjoy various fee waivers - processing fees waiver of up to $2,000 for loan applications, pay waiver for the Terminal setup fee for Electronic Data Capture (EDC) Terminal, and payroll charges waiver of up to $100 monthly.

Mr Alvin Lee added, “We are excited to empower and support female entrepreneurs to make strides in their businesses and help address gender diversity and inclusivity through the Maybank HERpower program. We will provide them with learning and networking opportunities, digital tools to drive growth, and guidance on integrating sustainable practices into their operations, ensuring their businesses are future-ready.”

Among the women entrepreneurs that Maybank has supported is Ms Chen Xiaoxuan, the main shareholder of Supreme Cars Financial Services Pte. Ltd., who chose Maybank as her banking partner to establish and grow her business.  

Ms Chen said, “Maybank stood out to me as the Bank is known for its trustworthiness and exceptional customer service, in addition to offering favourable terms and interest rates. Maybank supported me beyond the loans, and took a genuine interest in helping me grow my business and understand my business challenges. With Maybank’s support, I had the opportunity to invest in marketing initiatives that increased client acquisition and purchased new technology, which helped me scale my operations. In addition, I have benefitted from the Bank’s various initiatives, such as the networking sessions and financial literacy workshops, which were practical for my needs. I am confident that the Maybank HERpower program will empower more women entrepreneurs in Singapore to kickstart their business aspirations and succeed.”

To qualify for HERpower loans, women entrepreneurs must hold over 50% ownership of the business. As there is no cap on the loan amount, customers will have greater flexibility in raising capital for their ventures. In addition to financing, Maybank offers business mentorship and advisory services to guide entrepreneurs in setting up and growing their businesses, including cross-border services and across ASEAN. 

For media queries, please contact sg.corpcomms@maybank.com