OCBC Bank Bhd and Peoplender Sdn Bhd have entered into a collaborative agreement to enhance access to financing for micro, small and new businesses.<\/p>\n
The effort will be operationalised through Peoplender\u2019s wholly-owned peer-to-peer financing platform Fundaztic.com, which is licensed by the Securities Commission.<\/p>\n
The effort will see OCBC Bank referring to Peoplender viable SMEs seeking wider financing options to enhance and support their business growth.<\/p>\n
Micro, small and new businesses collectively form the largest base of SMEs in the country and often face difficulty obtaining funding for business growth.<\/p>\n
OCBC Bank chief executive officer Datuk Ong Eng Bin said the current effort represents a meaningful partnership with viable businesses that might not easily qualify for standard bank loans.<\/p>\n
\u201cWith the emergence of peer-to-peer financing platforms, opportunities that were previously unheard of are now available. However, there continues to be a gap between those in need and those in a position to meet the need.<\/p>\n
\u201cWe are delighted to play our part in bridging this gap through our partnership with Peoplender,\u201d he said.<\/p>\n
\u201cSince its launch in July 2018, Fundaztic has successfully disbursed almost RM15 million in funding to more than 170 SMEs, of which more than half are businesses that have been in operation for three years or less,\u201d he added.<\/p>\n
In addition, Peoplender chief executive officer Kristine Ng shared alternative funding platforms are part of an entirely new industry, with Fundaztic itself having been in the market for barely a year.<\/p>\n
\u201cThis limits our ability to reach out to all the viable SMEs out there, which is why the collaboration with OCBC Bank is a promising endeavour as the Bank has a much wider reach both in terms of network and personnel.<\/p>\n
\u201cThis collaborative effort is poised to be a win-win in enhancing access to financing for SMEs and strengthening the lending ecosystem to boost the economy,\u201d she said.<\/p>\n
Fundaztic\u2019s investors can expect to receive returns on investments of between 13 per cent to 23 per cent per annum depending on the risk grades of the SMEs they invest in.<\/p>\n
\u201cThe platform has always advocated the importance of diversifying their investments across as many Investment Notes as possible.
\u201cThrough this partnership, Fundaztic hopes to be able to host even more Notes each week, creating more choices for investors to practice the principle of diversification,\u201d Ng added.<\/p>\n
Once OCBC has passed the details of the SMEs to Peoplender, they are guided by Peoplender\u2019s team on the application process which is fully online.<\/p>\n
With this, SMEs across the country are able to gain the opportunity to raise funding via a new alternative platform anytime, anywhere and across virtually any device.<\/p>\n
\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
OCBC Bank Bhd and Peoplender Sdn Bhd have entered into a collaborative agreement to enhance access to financing for micro, small and new businesses. The effort will be operationalised through Peoplender\u2019s wholly-owned peer-to-peer financing platform Fundaztic.com, which is licensed by the Securities Commission. The effort will see OCBC Bank referring to Peoplender viable SMEs seeking […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1818","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1818","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/comments?post=1818"}],"version-history":[{"count":1,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1818\/revisions"}],"predecessor-version":[{"id":4660,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/posts\/1818\/revisions\/4660"}],"wp:attachment":[{"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/media?parent=1818"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/categories?post=1818"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/malaysian-business.com\/portal\/wp-json\/wp\/v2\/tags?post=1818"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}