ONE of Southeast Asia’s largest SME digital financing platform, Funding Societies Malaysia, along with renowned online food and grocery delivery platform, foodpanda have put their heads together to introduce a new pre-approved financing service that allow SMEs to get a financing plan without any repayment of principal for the first three months.
This new financing service also provide the SMEs with a three-month extension with no principal repayment for financing tenure of up to 18 months.
“Following our partnership with foodpanda in May this year, we have since then successfully disbursed over RM1 mil in financing to SMEs,” said Funding Societies Malaysia co-founder and CEO Wong Kah Meng.
“As certain economic sectors are starting to reopen, we hope that the launch of our pre-approved financing initiative will help uplift the spirits of the SME community in such trying times,” he continued.
According to Kah Meng, this new initiative is one of the company’s ways to answer the call of underserved and unserved businesses across all segments throughout the country.
Not only does this new financing option feature competitive interest rates with minimal documentation required, it also provides a hassle-free experience for the applicants and the disbursement of funds could be completed within just two working days.
In order to apply for the financing service, applicants are required to:
- Have sole proprietorship, partnership, or private limited companies registered with SSM
- Have a minimum of 30% local shareholding
- Have a minimum of six months operating experience for the business – Aug 25, 2021
