Malaysia’s digital bank Boost Bank said Tuesday it has disbursed close to MYR 150 million ($35.52 million) financing disbursements across hundreds of small and medium-sized enterprise (SMEs).

The bank said in a statement that as the first digital bank in Malaysia to roll out financing solutions exclusively for SMEs, this achievement reaffirms Boost Bank’s strong support in driving financial inclusion and empowering underserved small businesses.

With typical loan sizes around MYR 300,000 ($71048), this momentum is driven by Boost Bank’s core financing solutions: term loan and revolving credit facilities, which are designed to meet the diverse needs of SMEs with minimal documentation requirements, fast loan processing, and flexible repayment options.

Hundreds of SMEs have been offered these solutions, including businesses from the wholesale sector, manufacturing, retail, construction, food and beverage, and more to meet day-to-day needs, manage cash flow, and expand with fewer hurdles and more flexibility.

“SMEs are at the heart of Malaysia’s economy. They create jobs, spark innovation, and keep our communities vibrant. When we started offering SME financing, our mission was clear – to help business owners overcome the financing challenges they often face,

“Reaching this milestone is not just about hitting a target. It’s about showing what’s possible when financing is made simple, accessible, and built around the real needs of business owners,” said Fozia Amanulla, Chief Executive Officer of Boost Bank.

“This also reflects how fast digital solutions are reshaping the way businesses operate,

“At Boost Bank, we’re committed to supporting SMEs not just with financing, but also with the right tools and services to help them run and grow their businesses confidently in the digital age,” she added.

Looking ahead, Boost Bank said will soon introduce a new digital platform designed especially for SMEs.

It will go beyond financing to help small businesses manage their money, payments, and operations all in one place, and making it easier for entrepreneurs to focus on growing their business.

Boost Bank by Axiata and RHB (Boost Bank) was launched on June 6, 2024. The firm is the first homegrown digital bank in Malaysia with a pioneering embedded banking app.

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