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More small businesses seek alternative financing


Working with others: Wong says the platform is leveraging its partners networks to reach out to more SMEs outside the Klang Valley.

Working with others: Wong says the platform is leveraging its partners networks to reach out to more SMEs outside the Klang Valley.

SMALL businesses tend to look to banks for financing, but Funding Societies Malaysia chief executive officer Wong Kah Meng notes an increasing demand among SMEs for alternative financing such as peer-to-peer (P2P) lending.

In recent months, the P2P platform has disbursed some RM10mil to RM12mil a month compared to about RM1mil monthly a year ago.

SME , P2P , Funding Societies

   

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