KUALA LUMPUR, Nov 18 — AmBank Group has formed a strategic partnership with online car trading platform ezAUTO.MY to assist the latter’s 4,325 used car dealers (ezDEALERs) amid the Covid-19 pandemic.
In a statement today, the bank said it would equip ezDEALERs with “SME-in-a-Box”, an initiative to address the challenges faced by small and medium enterprises (SMEs) by adding value to their operating account, payroll, transactional services, merchant terminal, cashless payment solutions and quick access to working capital financing, among others.
AmBank retail banking managing director Aaron Loo said the pandemic had jolted the nation and the way business was undertaken.
“AmBank is conscious that SMEs have had to adapt to a steep learning curve, hence we recognise the need for SMEs to be digitally ready, especially in this pandemic era.
“This partnership with the Federation of Motor and Credit Companies Associations of Malaysia and ezAUTO allows us to address the current challenges faced by SMEs in the automotive industry,” he said.
ezAUTO Asia group managing director Ray Khor said financing a business during such challenging times was crucial to ensure continuity and growth.
“This is our first partnership financing product with AmBank which offers floor stock financing exclusively to ezDEALERs,” he said.
In addition to its floor stock facilities with longer interest rebate and repayment tenures, ezDEALERs will also benefit from AmBank’s dedicated partnership with Maxis.
The bank said dealers could get savings of up to RM5,000 for their Maxis mobile plan, fibre Internet and business solutions with the government’s SME Digitalisation Grant, an initiative under the National Economic Recovery Plan (Penjana).
Source: https://www.malaymail.com/news/money/2020/11/18/ambank-ezauto.my-to-assist-4325-used-car-dealers-amid-pandemic/1923819