Updated: 10 June 2026
Funding Societies is Malaysia's largest Securities Commission-licensed P2P financing platform, offering SME business loans from RM5,000 to RM200,000 with approval in as fast as 2 working days — without collateral.
| Feature | Details |
|---|---|
| Interest Rate | 9.60% – 18.00% p.a. |
| Loan Amount | RM5,000 – RM200,000 |
| Approval Time | 2 working days |
| Disbursement | Within 24 hours of approval |
| Collateral | Not required |
| Min. Operating Period | 6 months |
| Min. Monthly Sales | RM5,000 |
Apply via iMoney — Free Pre-Screening
iMoney pre-screens your business profile before submitting your application — increasing your chances of approval and saving you time.
What Is Funding Societies Malaysia?
Funding Societies (known as Modalku in Indonesia) is a Securities Commission (SC)-licensed P2P financing platform — not a traditional bank. Instead of borrowing from a bank, your business receives financing from a pool of individual and institutional investors via the Funding Societies platform.
It operates under a digital financing model, which means faster processing, less paperwork, and no requirement for property collateral.
Funding Societies is regulated under the Securities Commission Malaysia's P2P Framework, making it a fully legal and legitimate financial services provider in Malaysia.
Key Features
- No collateral or guarantor required
- Fully online application — 3 basic business documents only
- Approval within 2 working days
- Disbursement within 24 hours of approval
- One-off fee structure (no monthly hidden charges)
- Transparent pricing with no hidden fees
Eligibility
| Requirement | Details |
|---|---|
| Entity type | SSM-registered company or registered with Sabah/Sarawak authority |
| Malaysian shareholding | Minimum 30% |
| Operating period | Minimum 6 months |
| Annual revenue | Minimum RM60,000 per year |
| Monthly sales | Minimum RM5,000 |
| Credit record | No active bankruptcy; CCRIS clean for past 6 months |
| Legal status | No pending or outstanding legal action |
Documents Required
- NRIC / Passport of all Directors and Personal Guarantors
- Latest 6 months bank statements (capturing at least 80% of sales)
- Personal tax assessment — 2 years (optional but strengthens application)
This is significantly less documentation than most banks, which typically require audited accounts, business plans, and property collateral.
Fees and Charges
This is the part most comparison sites skip — read carefully.
| Fee | Amount |
|---|---|
| Utilisation Fee | 5% of loan amount (one-off, charged at disbursement) |
| Guarantee Fee | 5% of loan amount (for Guaranteed Investment Note product only) |
For a RM100,000 loan, expect to receive approximately RM95,000 net after the utilisation fee.
The 5% upfront fee is in addition to the interest rate. Compare this against your options before committing.
Example: RM50,000 Loan over 12 Months at 9.6% p.a.
- Monthly repayment: approximately RM4,383
- Total interest: approximately RM2,600
- Utilisation fee: RM2,500 (one-off at disbursement)
- Net received: RM47,500
- Total cost of borrowing: approximately RM5,100
How to Apply
Step 1: Pre-screening
Apply via iMoney — a free pre-screening matches your business profile against Funding Societies and other panel lenders. This takes 5 minutes.
Step 2: Business loan consultant contacts you
An iMoney consultant calls to verify your details and helps prepare your application for submission.
Step 3: Application submitted to Funding Societies
Funding Societies reviews your application, bank statements, and business profile. Decision typically within 2 working days.
Step 4: Disbursement
Once approved, funds are credited within 24 hours.
Is Funding Societies Malaysia Legit or a Scam?
Funding Societies is not a scam. It is:
- Licensed by the Securities Commission Malaysia under the P2P Financing Framework
- Regulated under the Capital Markets and Services Act (CMSA)
- Audited and required to file annual reports with the SC
- Operating in Malaysia since 2017 with thousands of SME borrowers funded
P2P financing is sometimes confused with unregulated money lending or investment scams — but SC-licensed platforms like Funding Societies operate under strict capital, disclosure, and governance requirements.
The concern about "app closure" that sometimes appears in search relates to Funding Societies' investor-side app changes (they periodically update their investment app UI), not any closure of the business or the borrower financing service.
If you are a business owner applying for a loan, your legal counterparty is FS Capital Sdn Bhd, a registered Malaysian company, and your financing agreement is a proper legal contract.
Pros and Cons
Pros
- No collateral required — ideal for asset-light businesses
- Fast: 2-day approval, 24-hour disbursement
- Minimal paperwork — 3 documents only
- SC-licensed and regulated — fully legitimate
- Considers 6-month-old businesses (banks usually need 2+ years)
Cons
- Rate 9.6–18% p.a. is higher than bank SME loans
- 5% upfront utilisation fee reduces net disbursement
- Max RM200,000 — not suitable for large capital needs
- Min 30% Malaysian shareholding required
- Monthly sales must be RM5,000+ (may exclude very early startups)
Funding Societies vs Bank SME Loans
| Lender | Rate | Max Amount | Collateral | Approval Time |
|---|---|---|---|---|
| Funding Societies | 9.6–18% p.a. | RM200,000 | None | 2 working days |
| Alliance Digital SME | From 5.9% p.a. | RM200,000 | None | 3–5 days |
| RHB SME Financing | From 7.2% p.a. | RM1,000,000 | May be required | 5–7 days |
| CIMB BizCash | From 7.8% p.a. | RM500,000 | None (BizCash) | 5–7 days |
| CapBay Invoice Factoring | From 15% p.a. | RM30,000 | Invoice as collateral | 1–3 days |
When Funding Societies Makes Sense
If your business is 6–24 months old and you do not yet qualify for bank SME loans (which usually require 2+ years of audited accounts), Funding Societies is often the fastest legitimate option. Once your business hits 2 years with clean financials, refinancing with a bank at a lower rate is worth considering.
Frequently Asked Questions
Is Funding Societies Malaysia licensed?
Yes. Funding Societies is licensed by the Securities Commission Malaysia as a P2P financing platform. It operates under FS Capital Sdn Bhd and is fully regulated under the Capital Markets and Services Act.
What is the minimum loan amount for Funding Societies Malaysia?
The minimum is RM5,000. Maximum is RM200,000.
Does Funding Societies require collateral?
No collateral is required. Funding Societies focuses on your business cashflow (bank statements) rather than fixed assets.
How fast does Funding Societies disburse the loan?
Approval typically takes 2 working days. Once approved, funds are disbursed within 24 hours.
What is the utilisation fee?
Funding Societies charges a one-off 5% utilisation fee at disbursement. For a RM100,000 loan, the fee is RM5,000 — so you receive RM95,000 net.
My business is 6 months old. Can I apply?
Yes — Funding Societies accepts businesses as young as 6 months, as long as you have RM5,000 in monthly sales and 6 months of bank statements.
Can a sole proprietor apply?
Yes, as long as you are SSM-registered. However, the minimum 30% Malaysian shareholding requirement still applies.
What if Funding Societies rejects my application?
A rejection does not affect your credit score. You can reapply after improving your financials (higher bank statement turnover, cleaner CCRIS). Alternatively, explore government-backed SME loan programs via TEKUN, PUNB, or Agrobank which have softer criteria.
Related Guides
- Business Loan Malaysia — Compare All Options
- SME Loan Malaysia Interest Rate Comparison 2026
- How to Get a Business Loan with 6 Months Operating History
Last updated: 10 June 2026
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