Flexible MicrofinancingWhat is Fundingbee?
Fundingbee is an online microfinance platform that offers fast, hassle-free loans to small and medium-sized enterprises (SMEs) and micro entrepreneurs who may not be qualified for traditional financing from local banks.
Why should I choose Fundingbee?
Bee Informatica Sdn Bhd, the operator of Fundingbee, is a licensed and regulated money lending company by the Ministry of Housing and Local Government (KPKT). They strive to provide keen applicants with reliable financing with affordable interest rates, transparent repayment schedules and no hidden fees.
As an alternative to the brick-and-mortar financing, Fundingbee offers more flexibility through their seamless online platform — that means you can make a loan application for up to RM50,000 (minimum is RM5,000, depending on the nature of your SME business; sole proprietorship or Sdn Bhd) and choose a tenure (up to 24 months or 2 years) that works for you.
Fundingbee also offers a simplified application process, which can be completed online in 10 minutes, requiring only four documents. From the loan application to approvals to fund transfers, rest assured that you’ll get your financing within 1 to 2 working days.
Last but not least, with borrowers’ accessibility in mind, Fundingbee comes with its unique credit scoring to evaluate your SME loan application easily, no matter your business size.
What is the loan process like?
It’s simple! Here are the step-by-step instructions on what the loan process is like and how you, as a borrower, can manage your financing afterwards:
- Make a loan application with Fundingbee
- Fundingbee screens your application (this takes around 30 minutes to a day to complete)
- If the screening is successful, you will receive a fully digital contract for you to sign and keep
- Fundingbee will transfer the approved financing via online banking to your bank account, which takes roughly 1 to 2 working days
- You can then manage and check your loan repayment schedule from the “My Page” tab in your fundingbee account
- You can also set up an automatic deduction for your monthly repayments without worrying about missing any!
How to be eligible for Fundingbee microfinancing?
As an owner of a Sole Proprietorship company, you will be eligible for a loan amount of RM5,000 to RM30,000. Meanwhile, for an Sdn Bhd company, the eligible loan amount is RM20,000 up to RM50,000.
Other criteria that apply to both types of companies include:
- Years of operation: must be above 1 year
- Annual sales turnover: must be above RM60,000
- Cash buffer: must be above RM1,500
- Tenure: 1 year
- One guarantor is required
Which documents are required to make an application?
Keen applicants must prepare the following documents to make a loan application with Fundingbee.
- Your valid IC (front and back)
- Business Registration Certificate (SSM)
- 6 months of business statement
- A business plan is required
- 1 year of audited report (applicable to Sdn Bhd)
- Utility bills
Not to mention, we’d like to highlight that as part of the post approval criteria, Fundingbee requires the purchase receipts and stock/product pictures for usage tracking purposes. Therefore, please prepare the materials accordingly.
Ready to apply for an SME loan with Fundingbee?
Go ahead and click the “Apply Now” button to be redirected to Fundingbee’s official website. Once you’re there, follow the steps below.
- Click “Apply Now”, enter your basic details and loan amount, then proceed to the application
- Upload the required documents (as mentioned above) in PDFs or photos
- Verify your identity via a mobile device. Ensure you have your IC ready!
If you have any questions, don’t hesitate to contact fundingbee via email: [email protected].
