Micro Credit Line
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Written by JC
Updated over a week ago

What is the product about?

This micro credit line facility is a facility specially designed to provide businesses with ready access cashflow to support business needs such as inventory purchases, payments and also as emergency capital. Apply for the facility now to drawdown anytime.

What do I get from the product?

1. Credit limit

Up to RM 100,000. Subject to credit assessment based on your business performance.

2. Return rate

1.5% per month on the drawdown amount (Utilised Amount). You can submit a drawdown request anytime within the availability period.

3. Availability period

Up to 12 months provided that all monthly payments due are made on a timely basis. Subject to credit assessment based on your business performance.

What are the charges do I have to pay?

1. Facility fee

The facility fee is 1% of the credit limit approved. We won't charge any fee if you decide to decline our offer.

2. Utilisation fee

For each successful drawdown, 1% of the approved Utilised Amount payable on a monthly basis.

What is the process flow?

1. Application process

If this is your first time with us, here is a run-through on the application process.

Step 1 - Onboarding

Apply for Micro Credit Line and receive the approval within 2-3 working days.

Step 2 & 3 - Drawdown

Submit drawdown request via Silkroad and receive the fund within 2 working days. You can submit up to 2 drawdown requests per month with a min RM 5,000 per drawdown.

Step 4 - Payment

Plan for your payment schedule based on your cash flow cycle. Your credit line will be re-credited upon full settlement of the principal and return.

Step 5 - Drawdown again

Repeat Step 2 & 3.

How does the payments work?

1. Due date

The first due date for each drawdown will be on the 25th of the following month and the following due date will be on the 25th of the consecutive month. If you wish to settle the principal prior to any due date, kindly pay the amount due and share receipt with us via email before the actual due date. You can find the payment details in the reminder email.

Otherwise, we will assume that you wish to rollover the principal to the next monthly cycle, hence we will deduct the return due and Utilisation Fee via Direct Debit mandate on the relevant due date.

What are the documents required?

1. Documents required

We would need the documents below for onboarding purpose:

  • Copy of all Director(s) NRIC/Passport

  • Latest 6-months Bank Statement

  • Latest 2 years personal Income Tax Assessment (Optional)

No documents are required to be submitted during your drawdown request.

What if I can't make the payment on time?

1. Compensation and fees

If you are late in making your payments, the following fees/charges will be imposed:

  • Compensation: RM250 per 7 calendar days

  • Late Return Fee: 0.1% per day (non-compounded) on the amount in arrears

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