Micro Credit Line

A micro-credit financing that offers opportunities to SMEs to stay on top of their cash flow and provide a back-up plan as they need.

With Funding Societies Micro Credit Line, you can apply for a financing amount of up to RM 100,000 with an interest rate of up to 1.5% per month and 1% of Utilisation Fee on the utilised amount. Utilisation Fee will be charged upon successful disbursements and monthly on the utilised amount. 

Once you have accepted our offer, you will receive a credit line to drawdown within the availability period. We will provide you with access to our Silk Road platform for you to submit your drawdown request. You can refer to the Silk Road user manual that will be shared to your email after you have successfully onboarded with us. You can also enjoy flexible principal repayment structure by planning your repayment schedule based on your cash flow cycle. Your credit line will be re-credited upon full settlement of the principal and interest.
 

Availability period is the period for you to drawdown from the credit line we have approved. Typically, it is 6 months from the execution date of the financing agreement

With Funding Societies Micro Credit Line, you get to enjoy flexible principal repayment schedule.
There are two options for flexible principal repayment schedule which are Principal Repayment and Rollover.

(i) Principal Repayment: You can settle the loan by paying the Principal amount and total Interest due before/on the loan due date via Instant Transfer. The early you make the settlement, the more interest you can save and there are no early settlement fees or charges imposed.

(ii) Rollover: You can rollover the principal repayment to next month by paying the monthly Interest due and the respective monthly Utilisation Fee only. The Interest and Utilisation Fee is deducted via direct debit mandate on the due date.

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 the documents required for the application

• Copy of all Director(s) NRIC/Passport
• Latest 6-months Bank Statement
• Latest 2 years personal Income Tax Assessment (Optional)

Step 3: Check your email for updates on your financing application

Step 4: Accept the approved financing offer from us (if you’re agreeable to the terms)

We will walk you through how to use our Silk Road platform to claim your financing by sending you a user manual via email.
 

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

• Utilisation Fee: 1% of approved Utilised Amount for each successful drawdown and 1% on the monthly utilised amount.
   
• Facility Fee: RM200 or 1% of the total facility amount. Paid one-off upon acceptance of our offer. 
   

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

• Penalty Fee: RM250  per 7 calendar days for late payment.
   
• Late Interest Fee: 0.1% per day (non-compounded) on the amount in arrears.
   

Yes, you can settle your loan any time you prefer without paying an early settlement fee.
 

You can submit your drawdown request via our digital platform - Silk Road. More details about the platform would be provided upon onboarding

Drawdown means a submission of request for financing from the platform.

Please be informed that you can submit up to 2 drawdown requests per month with a min amount of RM5,000 per drawdown.

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. drawdowns). Additionally, you may also view your drawdown and financing status via Silk Road.