KUALA LUMPUR, 24 August 2021 – In the spirit of Merdeka, Funding Societies and foodpanda have unveiled a new initiative for SMEs to get financing without repayment of principal for the first 3 months.
The exclusive pre-approved financing service available for SMEs allows a 3-month extension with no principal repayment for a financing tenure of up to 18 months.
Amongst the benefits of the service are: disbursement within 2 working days, competitive interest rates and minimal documentation to ensure a smooth and hassle free financing experience for SMEs.
Wong Kah Meng, Co-founder and Chief Executive Officer of Funding Societies Malaysia, stated, “We began our partnership with foodpanda in May 2021 and have successfully exceeded RM1 million in financing disbursed to SMEs. We understand the ongoing hardships faced by SMEs during the pandemic. To uplift the spirits of the SME community, there is no better time than now to launch our pre-approved financing initiative with certain economic sectors starting to open again.”
Kah Meng added, “By ensuring that no SMEs are left behind in their financing needs, we hope to support inclusive and sustainable economic growth while reducing inequality. The new initiative is another proof of Funding Societies’ commitment to serving the underserved and unserved businesses across all segments.”
Sayantan Das, Managing Director, foodpanda, stated, “Since the launch of our partnership with Funding Societies Malaysia in May this year, we are thankful to have been able to provide our vendors with micro financing opportunities to ensure business continuity during this unprecedented time. Our favourite warung nasi lemak and Char Kway Teow uncle are all part of our local culture. It is crucial that we do what we can to support them to preserve what makes us uniquely Malaysian.”
The SMEs eligibility criteria for the exclusive pre-approved financing are as follows:
Sole proprietorship, partnership, or private limited companies registered with SSM
Minimum 30% local shareholding
Minimum six months in business operation
For more information on the financing service, please visit: FS Micro Financing x foodpanda
+65 6221 0958
112 Robinson Road
+603 2202 1013
Unit 15.01 & Unit 15.02,
Level 15, Mercu 3,
KL Eco City, Jalan Bangsar,
59200 Kuala Lumpur
+66 93 139 9721
No. 188, Spring Tower,
11th Floor, Phayathai Road,
Thung Phaya Thai Sub-district,
(+84) 913 302 910
2/F Sonatus Building,
15 Le Thanh Ton,
Ben Nghe Ward,
Ho Chi Minh City, Vietnam
Registered with Securities Commission Malaysia.
Modalku Ventures Sdn Bhd 201601019329 (1190266X)
© 2020 Modalku Ventures Sdn Bhd. All rights reserved.
Funding Societies is a SME Digital Financing Platform registered with Securities Commission Malaysia. It does not fall under the jurisdiction of Bank Negara Malaysia. Therefore, financing products of Funding Societies should not be constructed as business loan, SME loan, micro loan, term loan or any other loans offered by banks in Malaysia and it is to be deemed as an investment note as defined in the Guidelines on Recognised Markets.
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