Issuer FAQs
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No |
Product |
Description |
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1 |
Business Term Financing – Trade Receivables – Accounts Receivables (without Trade Credit Insurance) |
A Financing where the Issuers (“Seller”) sell their future receivables or invoices that the Sellers issue to their customers (“Buyer”) to get immediate cash. When the Buyers pay for these invoices, Investors who bought these future receivables would receive the full payment and make a return. |
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2 |
Business Term Financing – Trade Receivables – Accounts Receivables (with Credit Insurance) |
A Financing where the Issuers (“Seller”) sell their future receivables or invoices that the seller’s issue to their customers (“Buyer”) to get immediate cash. When the Buyers pay for these invoices, Investors who bought these future receivables would receive the full payment and make a return. If there is a default or protracted payment of the buyer, the insurance company will indemnify up to maximum of 90% of the total loss to the Issuer, subject to the term and conditions of the insurance policy. |
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3 |
Business Term Financing – Trade Payable – Accounts Payables / Purchase Order / Supply Financing |
A Financing that is used to fund the transaction of the Issuer. For example, purchasing raw materials needed to manufacture steels pipes. |
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4 |
Business Term Financing |
A Financing that is taken to finance a company’s working capital, expansion and bridging financing purpose. |
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5 |
Business Term Financing – Trade Finance |
A Financing where the Issuers (“Seller”) finance their future receivables or invoices that the Sellers issue to their customers (“Buyer”) to get immediate cash. |
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6 |
Franchise Financing |
A Financing that provides Issuer/Franchisee with term financing to purchase a business franchise from a franchisor. |
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7 |
Business Insurance / Takaful Financing |
A Financing that provides Issuer to cover the cost of an insurance premium / Takaful contribution. |
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8 |
Asset / Equipment Based Financing* |
A financing that provides Issuer with term financing to finance purchases of machinery, equipment and these assets may in turn be used a collateral. This Financing is secured by one of the company’s assets. |
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9 |
Dealer Financing |
A financing that provides Issuer / Dealer to finance the purchase of new / used motor vehicles. |
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10 |
Project Financing |
A Financing that typically provides the Issuer with financing for mainly medium to long term projects |
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- User clicks on the “Request Finance / SMEs” tab.
- User to fill up the basic relevant details
Only locally registered sole proprietorships, partnerships, incorporated limited liability partnerships, private and unlisted public companies, will be allowed to be hosted on the P2P platform.
The following entities are prohibited from raising funds through a P2P platform:
- Commercially or financially complex structures (i.e. investment fund companies or financial institutions);
- Public-listed companies and their subsidiaries;
- Companies with no specific business plan or its business plan is to merge or acquire an unidentified entity (i.e. blind pool);
- Companies that propose to use the funds raised to provide loans or make investment in other entities; and
- Any other type of entity that is specified by the SC.
- Authorised Director of the Issuer and relevant Corporate Guarantor/Individual Guarantors to provide consent for credit checks
- Moneysave will then run a decision workflow to determine eligibility of the Credit Facility
- Issuer to furnish key information as follows:
- Application Form (Section 11 and 12 to be signed by directors/guarantors)
- 3 years Audited Financial Report with the latestbeingnot more than 1 year old
- Latest Management Account being not more than 6 months old
- Latest 6 months trade debtor ageing report being not more than 2 months old
- Latest 6 months trade creditor ageing report being not more 2 months old
- Latest 6 months bank statements being not more than 2 months old
- 6 months sales & purchase forecast
- Copy IC of directors/guarantors
- Others (Upon Request)
- Upon receiving full documentation, Moneysave will evaluate the risk and assign credit scoring based on third party credit scoring methodology.
- Moneysave will propose a set of terms relating to the financing amount, tenor and also profit rate (including risk loading) for the financing.
- Moneysave will also consider to reducing the corresponding profit rate based on credit scoring level if there is a risk reduction in place.
- Issuer is required to declare on the hosting maintained with the other P2P Platform and that the new application for financing is NOT for the same purpose
- Yes, Issuer may apply for a subsequent financing with Moneysave subject to another round of credit underwriting.
- This will be considered as a new financing. Issuer may be required to pay off the full outstanding amount of the existing financing before the new financing is extended. This depends on the conditions set by Moneysave team and may vary on a case to case basis.
- Generally, the service fee for Issuer as per following table.
- Service Fee is not subject to SST.
Types of Fees | Shariah / Conventional | Description | Amount or % |
Upfront Financing Processing Fees | Both Shariah & Conventional | One off Financing Processing fee charged for each first-time application | Up to RM800 |
Platform Hosting Fees charged to Issuers | Both Shariah & Conventional | Fees charged by the platform to Issuers upon successful funding. | Up to 0.50% per month with a minimum charge of RM200 per hosting, whichever is higher. |
Late Payment Fee | Conventional Only | Fees charged by the platform to Issuers each time a repayment is overdue. | RM100 admin fees for each payment overdue for conventional Notes only. |
Late Payment Interest | Conventional Only | Fees charged by the platform to Issuers each time a repayment is overdue. | 0.10% per day of unpaid sum will be payable to the investor.
Unpaid sum is equivalent to the outstanding Principal Amount. |
Profit / Interest | Conventional Only | Profit charged by the platform to issuers. | Financing Amount * Profit (Interest) p.a. * Tenure. |
Late Payment Charges | Shariah Only | Fees charged by the platform to issuers each time a repayment is overdue. | 3 days after the payment due date at 10% p.a. on outstanding amount pro-rated daily. |
Contracted and Effective Tenure | Shariah Only | The Murabahah agreement will be contracted at a longer period.
Issuer’s Payment will be calculated until the Effective Tenure.
If Issuer defaulted in payment, the profit amount will continue to be accrued until the actual Contracted Tenure.
| Non-Overdue: Financing Amount * Profit Rate p.a. * Effective Tenure.
Overdue: Financing Amount * Profit Rate p.a. * Contracted Tenure. |
Contracted and Effective Profit | Shariah Only | The Murabahah will be contracted at higher profit rate.
Issuer’s payment will however be calculated on the Effective Profit Rate which would be lower than the Contracted Profit Rate.
If Issuer defaulted in payment, the profit amount will be based on the actual Contracted Profit.
| Non-Overdue: Financing Amount * Effective Profit Rate p.a. * Tenure.
Overdue: Financing Amount * Contracted Profit Rate p.a.* Tenure. |
Stamp Duty (Including legal documents) | Both Shariah & Conventional | Duty payable under the law. | 0.50% of facility approved and accepted.
Unless specifically exempted as per extract of ‘STAMP ACT 1949 – ’ |
Legal Fee (If any) | Both Shariah & Conventional | Fees charged by the solicitor to Issuers for default in repayment. | As charged |
Valuation Fee (If any) | Both Shariah & Conventional | Fees charged by the 3rd Party Valuer to Issuers to conduct valuation report on certain properties / asset. | As charged |
Others | Both Shariah & Conventional | Travelling, Miscellaneous and Other Disbursement Expenses. | RM250 |
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