Business Credit Line

Business Credit Line as the name suggests is a collateral-free credit facility that is provided for local legal firms to utilise as and when needed. It allows legal firms to stay on top of their cash flow, have ready access to cash for inventory purchase, supplier payment or as an emergency fund

Business Credit Line can offer you a credit line of up to RM200,000 with an interest rate of as as low as 1.0% per month . There is no collateral required. When your financing is approved, you will be given access to our Silk Road system to start your drawdowns and utilise your credit line.
 

If this is your first time with us, here is a run-through on the application process. 

Step 1: Complete the Application form on our page

Step 2: Submit all the documents required for this application

• Certification of Registration from Bar Council

• Latest Valid Practicing Certificate from Bar Council for the legal firm with partners in the list

• Latest Valid Practicing Certificate from High Court for all the PGs

• PII Policy / Cover Note

• Copy of all Director(s) NRIC/Passport

• Latest 6-months Bank Statement

• Latest Audited Accounts & Management Accounts (if available)

We may request additional documents to support your application.

Step 3: We will send you an email confirmation regarding financing approval after reviewing your documents

Step 4: Once you have accepted our financing offer, you will be able to start utilising the credit facility within 7 working days.

Just like any other financing product, the following fees/charges will be applicable:

Facility fee : One-off 2% of the approved loan amount

Utilisation fees per drawdown : 0.60% of each Utilised Amount

If you are late in making your repayments, the following fees/charges will be imposed:

Late Payment Interest : 0.10% per day calculated on daily basis
 

Silk Road is a digital financing system developed by Funding Societies. Through Silk Road, you may view your facility details and manage your facility usage (e.g. withdrawals). Additionally, you may also view your drawdown and financing status via Silk Road.