Funding Societies expands offerings for MSMEs

Wong Kah Meng, co-founder and CEO of Funding Societies Malaysia said: “Despite their encouraging business performance, MSMEs have limited access to financing and are underserved for various reasons.“Some of the main factors include low to zero credit track record, lack of assets to pledge, and lack of financial documents for credit assessment."

FUNDING Societies, the largest SME digital financing platform in Malaysia and South-East Asia, has expanded its financing offerings for the local micro, small and medium enterprises (MSMEs).

The syariah-compliant trade financing solutions based on commodity murabahah (tawarruq) is for creditworthy and underserved Malaysian MSMEs seeking to grow their business or expand their working capital as the country reopens its economic sectors and transitions to endemicity.