KUALA LUMPUR, 3 June 2021 – Direct Lending, an online personal lending marketplace, is launching #DIRECTBANTU+ to help ease the Rakyat’s financial burden during the recently announced full lockdown (FMCO). With a mission to make loan processes safer, more accessible & affordable for those who need it, Direct Lending is offering an opportunity to support both loan borrowers & hardworking individuals with special cash rebates & income opportunities through this DirectBantu+ campaign. This CSR program that runs for the entire month of June 2021 will economically-empower Malaysians through the following:
With many businesses put to a full halt by FMCO, there are many silent cries within the B40 community who have lost their means of income to provide for their families. With the loss of household income – we will soon see a spike within the B40 community in pawning assets and an increase in loan applications to sustain these challenging times.
Affordable financing shouldn’t be paper-and-pen conventional with physical document application and signing. With the FMCO currently in place, more of us are staying safe and being more careful by staying home and making online orders and applications. Those who need financial aid during this full lockdown can apply for a personal loan within the comfort and safety of their own home and at the same time get a special cash rebate up to RM700 for each successful applicant done through the Direct Lending platform, under this DirectBantu+ program.
“We hope that this will help ease their financing commitment at the moment. In addition, we also want to bring up the spirit of ‘#KitaJagaKita’, allowing the community to help one another by referring this reliable means of financing to their network of friends, families or even colleagues. Under a specially created referral program, a referee will get RM250 for each successful referral and RM1,000 for cumulative 3 referrals for civil servant lending”, said Hui Yik Seong, Director & Founder of Direct Lending Sdn Bhd.
In its efforts to further amplify this initiative, Direct Lending is partnering with AVANA, GoGet, Kiddocare, Yeefu by SaltyCustoms and XOX Berhad (in partnership with Emicro Capital Sdn Bhd) who will be offering income opportunities to the resilient and hardworking communities, where they can participate in e-commerce, gig economy and last mile delivery sectors that will thrive during and after the movement restriction periods. For example, one can be a reseller on AVANA or XOX, or earn extra income flexibly as certified babysitters on Kiddocare or GoGetter on GoGet platform.
Followings are feedbacks from a few of the partners:
THE FINANCIAL IMPACT OF FULL MOVEMENT CONTROL ORDER DURING THE COVID-19 PANDEMIC
With the recent re-implementation of the Full Movement Control Order (FMCO), many continue to be financially strained especially as there are many businesses who are still taking on losses and have yet to recover from the many iterations of the Movement Control Order (MCO) since March 2020. As of February 2021, there are an estimated 775,500 unemployed individuals in the nation with the current unemployment rate in Malaysia at 4.8% based on the recent report by the Department of Statistics Malaysia (DOSM). This shows that many have lost their jobs during the start of the pandemic and thus, have yet to recover from this financial burden and a source of income to support themselves or their families.
Added Yik, “This is a challenging time for most of us and the idea behind our #DIRECTBANTU+ program is to help ease the financial burden caused by the COVID-19 pandemic. In this critical period, other than playing our part to stay home and stay safe, hardworking Malaysians can turn crisis into opportunity, adopt new skills and participate in the new economy, to survive and thrive in the new normal”.
The initiative is not the first time the Cradle-funded startup provided financial empowerment in response to the COVID-19 crisis, having previously launched the first round of #DIRECTBANTU in October 2020.
If you would like to find out more about #DIRECTBANTU+, please visit www.directlending.com.my/directbantuplus or alternatively, visit Direct Lending’s Facebook and Instagram page for more updates on the program.
– END –
Direct Lending is an online personal lending marketplace, enabling borrowers to find, apply and receive financing that best suit them. Financing products on our platform are Shariah-compliant and are provided by RCE Capital Berhad (a Bursa Malaysia listed company), Public Islamic Bank, Koperasi KOBETA, Koperasi KOPUTRI and Koperasi Ukhwah. In addition, we also collaborate with JCL Credit Leasing, a licensed lender registered under KPKT.