CIMB Singapore and Frasers Property have entered a five-year strategic partnership to offer over 2,000 retail tenants across 12 malls tailored financial solutions, including Singapore’s first “pay-as-you-earn” SME loan. This collaboration aims to enhance tenants’ cash flow and business resilience whilst promoting community engagement through initiatives like Silver Social Spaces.
The partnership introduces CIMB FlexiPay, an innovative loan that links repayments to daily revenue, allowing businesses to repay only when they earn. This flexible financing is exclusive to Frasers Property tenants, providing them with a unique opportunity to manage liquidity effectively. Additionally, tenants will benefit from zero fees on payment terminals and account setups, alongside unlimited free transactions via PayNow, FAST, and GIRO.
Beyond financial support, the partnership focuses on community impact through the Silver Social Spaces initiative, which engages seniors in meaningful activities at Frasers Property malls. This programme, supported by employee volunteers, aims to foster inclusion and active ageing.
Benjamin Tan, Head of Commercial and Transaction Banking at CIMB Singapore, highlighted the importance of supporting SMEs, stating, “This collaboration reflects CIMB Singapore’s commitment to go beyond banking to empower businesses, strengthen communities, and drive sustainable growth.” Adrian Tan, Managing Director of Retail at Frasers Property Singapore, added that the partnership is set to deliver greater value to SMEs through tailored financial solutions.
The initiative is expected to generate significant savings for SMEs, with a projected combined savings of $2.7m (S$3.7m) for about 500 businesses within the first two years. This strategic move marks a significant step towards building a resilient and inclusive retail ecosystem in Singapore.
