SME Micro Loan / Financing (Islamic or Conventional)
Boost cash flow for your business needs
Apply online and receive financing up to RM200,000 with
interest / profit rate of 0.8% – 1.5% per month and tenure up to 18 months.
Application is free, no upfront payment or deposit required. No hidden fees.
Special cash rebate from Direct Lending
Under DirectBantu+ initiative to help ease Malaysians' financial burden with extra financial resources during this FMCO (from 1 June to 16 July 2021).
For every loan approved and disbursed
Rebate
RM700
RM500
RM400
RM200
RM60
Financing amount
≥ RM30,000
RM20,100 – RM30,000
RM10,100 – RM20,000
RM3,100 – RM10,000
≤ RM3,000 & below
Why Use Direct Lending?
FAST
Approval within 3-4 working days
AFFORDABLE
Interest / profit rate 0.8% - 1.5% monthly.
FLEXIBLE
Payment tenure up to 18 months
CONVENIENT
Available across Malaysia, 100% online. No collaterals required.
FAST
AFFORDABLE
FLEXIBLE
CONVENIENT
Eligibility
• Sole Proprietorship, Partnership or Private Limited Company (Sdn. Bhd.) registered with SSM
• Minimum 6 months in business operations
• Minimum business income or revenue of RM5,000 per month
• No pending or outstanding legal action
• Not bankrupt
Documents Required*
- NRIC (front & back)
- Latest 6 months bank statement
*additional documents may be required for partnership & Sdn. Bhd. company
Client Testimonial
Our customer review's on our Google Business and Facebook page
How To Apply For A Personal Loan Online?
STEP 1
Click ‘Check Eligibility’ and tell us what you need
STEP 2
Compare and select a product that is suitable for you
STEP 3
Our friendly consultant or officer from the lender you have selected will be in contact to complete your loan application
Client Testimonial
Our customer review’s on our Google Business and Facebook page
FAQ SME Micro Loan / Financing (Islamic or Conventional)
What is this SME Micro Loan / Financing (Islamic or Conventional) about?
A financing product that offers micro credit facility to SMEs, to boost cash flow for business expansion and working capital needs.
This SME Micro Loan / Financing (Islamic or Conventional) is provided by Direct Lending’s business partners (licensed lender or financier). Application via Direct Lending is 100% free, no upfront payment or deposit is required.
You may apply for either Islamic or conventional financing.
How much is the interest rate / profit rate charge?
The interest / profit rate is 0.8% to 1.5% per month, subject to approval.
What are the fees or costs involved for this SME Micro Loan / Financing (Islamic or Conventional)?
The application is 100% free and no upfront payment or deposit is required.
There will be a 10% processing fee (inclusive of stamp duty & guarantee fee), deducted upon disbursement from the loan/financing amount.
How much can I borrow and for how long?
The amount of financing that you are eligible to apply would depend on a few factors such as your business income, current debt commitment and credit history. The maximum loan / financing amount is up to RM200,000 with flexible repayment tenure between 6 months to 18 months.
What is the requirement to apply for SME Micro Loan / Financing (Islamic or Conventional)?
You are eligible to borrow with:
• A business entity registered with SSM under any of these categories;
– Sole proprietorship;
– Partnership / Limited Liability Partnership (LLP); or
– Private Limited Company (Sdn. Bhd.)
• Minimum 6 months in business operations;
• Minimum business income or revenue of RM5,000 per month;
• No pending or outstanding legal action; and
• Not bankrupt
You only can apply for Conventional SME Micro Loan / Financing if your business involves trading of the following:
1. Alcohol;
2. Gambling;
3. Pornography;
4. Tobacco and dangerous drugs;
5. Entertainment-related companies – such as karaoke lounges serving alcohol, film production houses producing mainly illicit movies, cinemas that typically screen entertainment-related movies;
6. Pork and its by-products;
7. Food items that are prohibited under the teaching of Islam such as frogs, snakes, crocodiles;
8. Shariah non-compliant massage parlours that allow treatment from the opposite gender;
9. Prostitution;
10. Interest-based lending, including credit sales with interest charges;
11. Conventional insurance and unit trust agencies; and/or
12. Production and distribution of idols, statues, and materials and places for worshipping other than Allah
To apply, click HERE.
What documents do I need to prepare to apply for SME Micro Loan / Financing (Islamic or Conventional)?
Compulsory Documents
• A copy of NRIC (front & back):
– Sole proprietorship – Owner
– Partnership / Limited Liability Partnership – All partners
– Sendirian Berhad – All directors
• Latest 6 months bank statement (must be original copy in PDF, scanned/screenshot/picture not acceptable)
Optional Documents
• Business license
• Personal income tax assessment (latest 2 years)
Do I need to provide any collateral or guarantor to apply for SME Micro Loan / Financing (Islamic or Conventional)?
SME Micro Loan / Financing (Islamic or Conventional) is a type of unsecured financing. This means that you do not need to provide any collateral.
How long is the process?
You would receive an approval within 3-4 working days upon full documents submission. Receive your financing within 2 working days upon signing of agreement via online.
Note: Every reasonable effort has been made to ensure that the turnaround time is adhered to but the timeline may still be subject to change depending on various circumstances including but not limited to the completeness of information furnished by the applicant.
Can I make an early settlement?
Islamic SME Micro Financing
Yes, you can make an early repayment.
Conventional SME Micro Loan / Financing
Yes, you can make an early repayment, but subjected to a 2% early repayment fee on the remaining principal amount.
What if I can’t make my payment on time?
Islamic SME Micro Financing
If you are late in making your repayments, the following fees/charges will be imposed:
• Up to 10% p.a. of Late Payment Charges [consist of 1% p.a of Compensation (Ta’widh) and 9% p.a. of Penalty (Gharamah)] on the overdue payment & shall not be compounded.
Conventional SME Micro Loan / Financing
If you are late in making your repayments, the following fees/charges will be imposed:
• Late Penalty Fee: RM200 per repayment cycle
• Late Interest Fee: 0.1% per day (non-compounded) on the amount in
arrears
Who is Direct Lending? Why should I apply my loan through Direct Lending?
Direct Lending is a personal and business lending platform to help individuals or SMEs to search, compare and apply for financing that is most suitable for them. We only partner with trusted and licensed lenders or financiers.
Our service is 100% FREE and will not require any payment from our customers at any time. Direct Lending has over 2,000 reviews rated 5-stars by our customers on our Google Business Page and Facebook.
How do I apply for a SME Micro Loan / Financing online (Islamic or Conventional)?
Applying for SME Micro Loan / Financing (Islamic or Conventional) has never been this easy and convenient. Click the link below or ‘Chat on WhatsApp’ icon through our platform and we will assist you to receive financing for your business needs.
Our dedicated experienced consultant or the officer from the lender will then be in contact and assist you with your application from A-Z.
Application is 100% free, no upfront payment or deposit is required. No hidden fees. To apply for a business loan / financing, click HERE.
You deserve a better borrowing experience
* Terms & Conditions apply. This SME Micro Loan / Financing (Islamic or Conventional) is provided by our business partners (licensed lender or financier). Application via Direct Lending is 100% free, no upfront payment or deposit is required. As a representative illustration, for a RM100,000 financing amount applied for 12 months at an annual interest / profit rate of 18%, the total repayment amount at the end of the tenure is RM118,000.