OCBC Malaysia launches Serial Entrepreneur programme
KUALA LUMPUR: OCBC Malaysia has launched its first-of-its-kind Serial Entrepreneur programme, offering support for individuals running multiple businesses, following a year-long pilot phase.
In a statement, OCBC Malaysia managing director and head of wholesale banking Jeffrey Teoh said the programme has immense potential, given the sizable base of serial entrepreneurs.
Teoh said the bank's research revealed a gap in the market, where no Serial Entrepreneur programme combined with a structured engagement approach was available.
He added that traditional banking models often treat each venture as a separate entity, leading to fragmented support and financial solutions that fail to consider the bigger picture.
'So, we decided to develop the Serial Entrepreneur programme to help entrepreneurs navigate the complexities of managing multiple businesses with ease, flexibility and speed.'
'About 1 in 3 entrepreneurs who were offered our principal loans during the pilot phase signed up for the programme. This involved about 300 companies taking up more than RM850mil worth of loans, which tells us that the market is certainly ready for what we are offering,' Teoh said.
The OCBC Serial Entrepreneur programme builds on the success of a 2019 initiative by OCBC Group in Singapore and redefines how banks engage with business leaders. Leveraging data analytics and customer feedback, the bank gained key insights into the behaviour, funding needs, and growth paths of entrepreneurs managing multiple ventures.
The bank supports serial entrepreneurs with dedicated group relationship managers who help plan their finances based on the full business portfolio, not just individual companies. This approach lets the bank see the entrepreneur's ventures as one strong unit and make better use of their existing business strengths.
The programme is also centred on assisting the serial entrepreneur from the get-go, without imposing the usual condition for a new venture to operate for up to two years before being eligible for financing.
Besides providing capital financing, the OCBC Serial Entrepreneur programme equips entrepreneurs with the tools and support they need for their next business venture and to help them grow confidently.
OCBC Malaysia comprises OCBC Bank (M) Bhd and its Islamic banking subsidiary OCBC Al-Amin Bank Bhd.
For more information on the OCBC Serial Entrepreneur programme, please visit www.ocbc.com.my/serial
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