PETALING JAYA: ManagePay Systems Bhd’s (MPay) unit QuicKash Malaysia Sdn Bhd will be hosting a peer-to-peer (P2P) financing platform to help raise up to RM100 million in investment notes to provide financing facility for local small and medium enterprises (SMEs).
QuicKash is a registered recognised market operator for P2P financing platform by the Securities Commission Malaysia, to widen funding avenues for businesses.
In a statement, QuicKash CEO Ong Kooi Hooi said the “SME Programme Financing” will be offering fixed investment notes with short term financing tenure of three, six, or nine months for RM25,000, RM50,000 and RM100,000 respectively.
“Interest rates from as low as 1.25% per month will be offered for those with good credit rating. The platform charges a flat platform fee of 3%,” Ong said.
He said the campaign is expected to benefit some 1,000 SMEs who have been operating their business for at least one year.
“We are prepared to host your fundraising as long as you have been in business for 12 months and can provide a guarantor or collateral for the amount. The beauty of it all is our ability to process applications at lightning speed.
“We see it is a win-win formula. SMEs get access to much needed funding while investors enjoy high returns of up to 18% per annum for investing in these SMEs. We hope to also see a surge in investors through this programme,” Ong added.
He said Quickash aims to close the financing gap in the SME market, estimated at some RM70 billion.
The programme online application form is set to go-live on Nov 1.