Part-finance your business and boost your capital with micro financing worth up to RM200,000 with competitive profit rates. Fast approval, simple documentation and no collateral is required.


Loan Amount RM
Company Registered How Long
Average Monthly sales RM
Propose of loan
Have any Loan with the bank

Profit rates

How much the provider charges you

Financing Value Financing period Annual Sales Turnover Profit Rate
RM3,000 - RM200,000 6 to 18 months min. RM60,000 9.6% p.a. - 18% p.a.

 

Fees & Charges

Profit Rate / EPR

from 9.6% p.a. to 18% p.a.

Late Payment Charge

For default payments before and after the maturity date, a Compensation (Ta'widh) of 1% p.a. may be imposed on the overdue balance, which includes the overdue principal and accrued profit. Funding Societies may impose both Compensation (Ta'widh) and Penalty (Gharamah) as Late Payment Charges, subject to a maximum rate of 10% p.a.

Processing Fee

5% of the approved financing amount, deducted upon disbursement

Requirements

Minimum Annual sales turnover

RM60,000

Minimum Company Age

0.5 year

Who can apply

  • Malaysian Registered Companies. The companies should have a minimum of 30% local shareholding by Malaysians. Sole Proprietorship, Partnership or Private Limited Companies registered with SSM can also apply

More Information

What is Funding Societies SME Micro Financing/-i?

It is a business microfinancing that can help you boost capital and improve the cash flow of your SME business. Depending on the nature of your business and needs, Funding Societies offers both Islamic and Conventional microfinancing options.

If you have yet to know about Funding Societies, they are one of the SME digital financing platform pioneers in Southeast Asia, with over 200,000 registered investors whose funds are managed by Malaysian Trustees Berhad.

Funding Societies is registered with the Securities Commission Malaysia, so if you are looking for reliable business financing from a non-bank option, this SME Micro Financing/-i can help you grow your business further.

What can I get from Funding Societies SME Micro Financing/-i?

Both Micro Financing-i (Islamic) and Conventional Micro Financing offer financing amounts as low as RM3,000 up to RM200,000 maximum over periods of 6, 9, 12 or 18 months.

The interest rates (for Conventional) and profit rates (for Islamic) would be in a range between 0.8% per month (per annum is 9.6%) to 1.5% per month (18% per annum), depending on your credit profile and documentation.

What are the fees and charges?

The fees and charges for the Micro Financing-i (Islamic) include:

  • Processing fee/drawdown fee: 5% of the approved financing amount will be deducted upon financing disbursement.
  • Guarantee fee: 5% of the approved financing amount will be deducted upon financing disbursement. This fee is applicable in order to secure your financing from the investor.

If you wish to opt for Conventional Micro Financing, below are the fees and charges that will be applicable.

  • Processing fee/utilisation fee: 5% of the approved financing amount will be deducted upon financing disbursement.

  • Guarantee fee: 5% of the approved financing amount will be deducted upon financing disbursement.

Is there any fee if I want to terminate my Funding Societies SME Micro Financing/-i early?

For the Micro Financing-i (Islamic) option, you won’t be charged a fee to terminate/settle your financing early.

However, for Conventional Micro Financing, an early termination/settlement fee of 2% will be applicable to your remaining principal amount. This is to partially compensate the investors for the loss of their residual interest.

Will I be charged a fee for late repayments?

Yes. Therefore, late repayments are strictly not encouraged.

For the Micro Financing-i (Islamic), you will be charged a late penalty fee consisting of Compensation (Ta’widh) and Penalty (Gharamah) based on the following criteria:

  • For default payments before and after the maturity date: Compensation (Ta’widh) of 1% p.a. on the overdue amount (overdue principal and accrued profit). You may also be charged with both Ta’widh and Gharamah as late payment charges at the maximum rate of 10% p.a., subject to the discretion of Funding Societies.

 

For Conventional Micro Financing, you will be charged with:

  • Late penalty fee: RM200 per repayment cycle

  • Late interest fee: 0.1% per day on the outstanding balance/amount in arrears (non-compounded)

What are the eligibility criteria to apply for this SME Micro Financing/-i?

To apply for Funding Societies SME Micro Financing/-i, your business must meet the following eligibility criteria.

  1. Sole proprietorships, partnerships, or private limited companies registered with SSM
  2. Minimum 30% local shareholding by Malaysians
  3. Minimum RM60,000 revenue per annum (or RM5,000 per month)
  4. Minimum 6 months in operations

What documents should I prepare?

Please prepare the required documents below to apply for Micro Financing-i (Islamic) or Conventional Micro Financing from Funding Societies.

  • Your IC (front and back)
  • 6 months company bank statement
  • IC (front and back) of additional directors (if you are a sole proprietor, you don’t need to provide this)