Funding Societies and foodpanda have unveiled a new initiative for SMEs to get financing without repayment of principal for the first 3 months 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.
CEO Funding Societies Wong Kah Meng says the partnership with foodpanda have successfully exceeded RM1 million in financing disbursed while Sayantan Das, Managing Director, foodpanda says it is important to provide vendors with micro-financing opportunities to ensure business continuity during this unprecedented time.
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
