Specifics for this grant also include the breakdown of what your grant gets you. To be eligible for this grant, you will need to fulfil the following criteria. The company or business also needs to be registered with SOCSO. Only local companies operating with local employees who have a monthly earning of RM4,000 or below are entitled to this stimulus perk. You have been referred by a friend who invested in Funding Societies—the largest P2P lending platform in Malaysia. All eligible micro-enterprises registered with Lembaga Hasil Dalam Negeri (LHDN) are entitled to take part in this grant. The, outbreak hit Malaysia in February 2020, resulting in a. of March 2020. It does not fall under the jurisdiction of Bank Negara Malaysia. Example: 1234560-X, SSM Registration Cert such as Form 9 or Section 13 (CA 2016). By the end of the year, FS Malaysia has successfully disbursed RM100 million in SME working capital, five times more than what we had achieved in our first year – signifying a positive take-off of P2P financing in Malaysia. The Covid-19 outbreak hit Malaysia in February 2020, resulting in a Movement Control Order (MCO) implemented on the 18th of March 2020. Funding Societies Malaysia, the largest digital Peer-to-Peer (P2P) financing platform in the country, announced today its partnership with Lazada Malaysia to offer short-term financing, e-commerce financing, for merchants selling on Lazada platform.. A reflection of Funding Societies and Lazada’s mutual efforts in empowering Malaysia’s micro, small and medium enterprises … This is especially crucial with the uncertain economic situation that we are currently in. Glassdoor gives you an inside look at what it's like to work at Funding Societies, including salaries, reviews, office photos, and more. Sign up now *Terms & conditions apply. Business Scale-Up Programme (Biz-Up Programme) is an integrated assistance programme for the purpose of enhancing the capabilities of SMEs via business advisory services and financial support. So remember to keep that in mind when completing your application. (Maximum number of staff a company can claim for has increased to 200 employees). As of 2018, Funding Societies, B2B Finpal and Fundaztic had the biggest market shares in Malaysia. Within the first week of this MCO, several SMEs saw a 50% drop in their businesses, followed by a myriad of sales and cash flow issues. This is the Funding Societies company profile. With a strong team of more than 80 employees to-date, we have undeniably accomplished a lot in the last several years, serving our clients across Malaysia, Singapore, and Indonesia. We offer financing up to RM1 million over a range of industries. We offer financing up to RM1 million over a range of industries. With the dawn of a global pandemic, small businesses worldwide have suffered a multitude of losses, resulting in a frankly tumultuous economy. A list of eligible micro-enterprises can be found with your local authorities and SSM. As a platform that serves two sides, Funding Societies Malaysia believes in a win-win relationship for both SMEs and … They operate in South East Asia and have won a lot of accolades, including the Global Excellence Award from ITU Telecom, a specialized agency of the United Nations for The default rate of 1.49% (as at Nov 20) published on its website is the regional rate and not the default rate in Malaysia, he adds. One of these options is, is a sum of money that has been allocated or given to a, are distributed by governments, corporations, foundations and even trusts. If private premises reduced their rent by at least 30% they would be entitled to additional tax reductions, so long as they stick to the parameters introduced. In 2019, this was up by 200% from 2018, passing a significant milestone of RM300 million. You will need to submit your application via. then you are indeed the target market for this grant. Service fees charges. What is my Risk? Some of the expected outcomes are an increase in revenue, savings in your SME business costs, and the reduction of man-hours, amongst other things. In February 2017, Funding Societies expanded its reach to Malaysia, starting Funding Societies Malaysia, headed by Wong Kah Meng, CEO of FSMY. Course, a fully automated mobile loan product targeting micro entrepreneurs and businesses the for. Of September s take a look at a few options you could look into for your regular taxes CA ). To 100 % or up to 100 % working capital for the SMEs is of! Malaysia in February 2017, we at Funding Societies first partner to Curlec... Sign up for each country Singapore, Malaysia Admin Executive Lazada Jul 2020 - Okt 2020 4 bulan here s! 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