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This is a micro term financing product designed especially for Malaysian SMEs for their working capital needs, productive asset purchases, and/or business growth requirements. No collateral is required.
As long as your company is a non-SSM registered entity, with a valid local council license or permit, municipal license or permit, or registered with U Mobile (GoBiz) for at least six (6) months, and is not a subsidiary of nor is not a listed company, your company is eligible to apply for this product.
Note: Funding societies may request for additional documents to support your financing application where applicable.
Financing Amount
Up to RM50,000.00 for eligible Malaysian based companies.
Financing Tenure
Up to 18 months for eligible Malaysian based companies.
Interest Rate
1.5% per month
Application Fee
Funding Societies does not charge applicants any application fee.
Guarantee Fee
Waived for all FS Micro Trader Financing applications under the Funding Societies x U Mobile (GoBiz) collaboration.
Please ensure that your application is submitted via the approved channels to be waived for the guarantee fee.
Utilisation Fee
Funding Societies charges a utilisation fee (5% of the approved financing amount) upon successful disbursement.
If the offer is declined by the applicant prior to disbursement, the applicant will not be charged for this.
Retention Sum
Funding Societies charges a retention sum (5% of the approved financing amount) upon successful disbursement.
If the offer is declined by the applicant prior to disbursement, the applicant will not be charged for this.
Below is an illustration for your reference:
Financing Tenure (months) | ||||
Financing Amount | 3 | 6 | 12 | 18 |
---|---|---|---|---|
RM 3,000.00 |
RM 1,045.00 |
RM 545.00 |
RM 295.00 |
RM 211.67 |
RM 5,000.00 |
RM 1,741.67 |
RM 908.33 |
RM 491.67 |
RM 352.78 |
RM 10,000.00 |
RM 3,483.33 |
RM 1,816.67 |
RM 983.33 |
RM 705.56 |
RM 50,000.00 |
RM 17,416.67 |
RM 9,083.33 |
RM 4,916.67 |
RM 3,527.78 |
Do note that the financing amount and financing tenure you can apply for is flexible, subject to the product terms stated earlier.
Alternatively, you may calculate the instalment per month for FS Micro Financing with the formula below:
Installment per month = Financing Amount + [Financing Amount x Interest Rate per month (%) x Financing Tenure (months)]/Financing Tenure (months)
Do note that the financing amount and financing tenure you can apply for is flexible, subject to the product terms stated earlier.
Through Funding Societies x U Mobile (GoBiz) collaboration, you may also apply for
Disclaimer: For the avoidance of doubt, FS Micro Trader Financing may also be referred to as FS Micro Financing (Informal Business).
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