CIMB Niaga and Lazada Partnership

Source: Lazada

CIMB Niaga and Lazada partner to offer CIMB Bank’s Enterprise Clean Loans (ECL) to Lazada Malaysia’s merchants in an effort to support the expansion of Malaysian SMEs. The partnership enables CIMB Bank to customize and streamline the approval and disbursement process for top-tiered Lazada merchants, providing the merchants with swift access to financing.

“With approximately 12,000 sellers on board, the collaboration is a strong testament to our track record of helping merchants succeed online,” said Hans-Peter Ressel, CEO of Lazada Malaysia.

The simplified application process and fast turnaround time for approval and disbursement allows merchants to focus on building businesses and enhance its speed to market in the digital ecommerce space.

“At Lazada, we are fully committed to supporting the growth of our home-grown SMEs through hassle-free fulfillment services, ecommerce trainings as well as marketing and analytical support,” Ressel added. “The partnership with CIMB Bank affirms the strategic choices Lazada has made in building the ecommerce ecosystem in Malaysia. It will bring significant synergies by giving Lazada merchants the option to enhance its online business and provide its customers with the best choices, convenience, and value.”

This ECL is non-collateral financing with competitive interest rates and offers financing of up to 300,000 RM, approximately $75,000 US per company with loan tenures of up to 7 years. It also offers a 48-hour approval timeline with a loan disbursement within 24 hours upon full document execution, giving companies efficient access to the needed funds to fuel its business growth.

A version of this appeared in Marketing Interactive on June 21. Read the full article here.