BNM Says E-Invoices Could Help SME Loan Approval

Iman Aminuddin

13th August 2026 - 2 min read

Small and medium enterprises may still be missing out on financing because conventional credit assessments do not fully capture their potential, Bank Negara Malaysia (BNM) governor Datuk Seri Abdul Rasheed Ghaffour said.

He was speaking at the 31st CGC Awards on 11 August, where he also called for more Malaysian SMEs to grow into larger, more established companies capable of competing internationally.

New Ways To Assess Viability

Young enterprises may have limited credit histories, while businesses without much physical property or equipment may lack collateral despite having strong cash flows or a steady stream of confirmed orders, Abdul Rasheed said. He added that this kind of data should support a lender’s decision, not replace it.

If your business runs mostly through e-invoices, online payments or a steady transaction history, that record can now count toward your loan application. GXBank’s partnership with CGC Digital already works this way, accepting personal bank statements and transaction history for SME loan applications.

RM10 Billion In Guarantees Available

Alongside these changes in how businesses are assessed, BNM and CGC have also expanded direct access to financing through the BNM-CGC Guarantee Scheme. Under a guarantee, CGC agrees to cover most of a bank’s losses if a borrower defaults, which makes banks more willing to approve loans for businesses that would otherwise be turned down for lacking collateral or a long track record.

The scheme supports up to RM10 billion in guaranteed financing for microenterprises, start-ups and businesses investing in sustainability, innovation, food security and other priority areas for the economy. Eligible businesses can access up to RM10 million in financing per company, with repayment tenures of up to 10 years and guarantee coverage of up to 85% for those with limited collateral. Guarantee fees start from as low as 1%.

CGC has facilitated more than RM103 billion in guarantees and financing to over 544,000 SMEs since its establishment.

SMEs Anchor Half Of Jobs

Abdul Rasheed said this scale of support is important because SMEs account for about 40% of Malaysia’s GDP and nearly half of total employment. He said Malaysia needs more SMEs capable of becoming key suppliers to larger local industries, rather than relying mainly on external buyers.

Iman Aminuddin

Iman writes about personal finance with curiosity. She is interested in the stories behind money, the hesitation around big decisions, and the small habits that shape financial futures. Off the clock, she is either dissecting a film or climbing her way up the leaderboard in her favourite games.

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