Exclusive financial assistance initiative for TM unifi SME customersPublished on 1 October 2021
TM Info-Media Sdn Bhd (TMIM), a subsidiary of Telekom Malaysia Berhad (TM), is collaborating once again via its Yellow Pages platform with Funding Societies, the largest peer-to-peer (P2P) financing platform in the country and Southeast Asia. This time, they are joining forces to provide a brand new Pre-Approved Financing solution exclusively for TM unifi small and medium enterprise (SME) customers.
The first in Malaysia to leverage on telco data to offer Pre-Approved Financing, which is in line with TM’s Digital Malaysia aspiration
This initiative aims to provide a fuss-free and easy process for unifi business customers who are seeking financial assistance. It’s the first of its kind to offer financing solution using alternative data — in this case a local telecommunications data.
The initiative specifically caters to business owners who do not have the elaborate documentation required, can’t afford to go through long processing time or get approval based on the company’s collaterals.
What this Pre-Approved Financing support means for TM customers
Based on the information you already registered with TM, Funding Societies will determine how much financing it is willing to give you before you even start applying for the funding!
As soon as you key in your company’s Business Registration Number (BRN) on the website, you will instantly be notified whether you are eligible for the financing and the amount of funds you are eligible to receive. This means you have a very good chance of being approved for the specific offers, as long as your credit information hasn’t changed and you pass the full credit check.
As a TM customer, if you meet the eligibility criteria, you will receive a Pre-Approved Financing offer via email or SMS inviting you to apply for the initiative.
(Strict rules are followed when it comes to your personal information. Any individually identifiable information will not be disclosed to any third party without first receiving your permission.)
A trailblazing financing solution tailor-made for COVID-19 era
The Pre-Approved Financing initiative is a continuation of TMIM’s mission to empower local businesses to continue thriving during COVID-19 and beyond. According to The Edge Markets, the country’s SME sector suffered a total loss of RM40.7 billion in 2020 as a result of the nationwide strict restrictions imposed by the government to tackle the outbreak.
This is by far the biggest-ever loss incurred by the SME sector, signifying the pandemic’s impact on the business operations of homegrown entrepreneurs. Based on the latest figures shared by the Department of Statistics Malaysia, the SME sector’s gross domestic product (GDP) contribution suffered more than 7% year-on-year decline to RM512.8 billion last year against RM553.5 billion in 2019.
The ongoing pandemic has forced many to change their business model. For some, to make this change, extra funding is needed immediately. New businesses do not have adequate financial support. They mostly rely on credit terms and loans from suppliers.
Without easy access to adequate financing solutions, some businesses are forced to pass up good opportunities due to insufficient cash flow. This situation is further exacerbated by loss of revenues and worsening cash flows from COVID-19 lockdown. These businesses require quick and short-term financing to seize high-margin business opportunities.
“The success of our collaboration with Funding Societies has prompted us to continue to offer business financing solutions for the underserved and unserved SMEs in Malaysia,” said Sean Koh Chin Soon, TMIM Chief Executive Officer. “The pandemic has placed many businesses in dire financial ruts. The Pre-Approved Financing initiative aims to swiftly solve TM customers’ problems by simplifying the application process,” he continued.
In a nutshell: key things to know about Pre-Approved Financing initiative
1. This programme is an exclusive offer for TM unifi SME customers who have been subscribers to unifi SME offerings for at least one year. Not a TM customer? Fret not, you can still explore other financing solutions here.
2. The industries covered by this initiative are retail, small office home office (SOHO), professional services, health products and services, manufacturing, information and communications technology, transportation, oil and gas, and logistics.
3. The process is fast as the main focus is on applicants’ business potential instead of assets owned.
4. All you need to do is enter your BRN on the designated website and you can check your eligibility instantly. This means upon entering your BRN, you will know right away if you are eligible to receive up to RM10,000 of Pre-Approved Financing.
5. If you are eligible, simply submit your IC to proceed with the application and confirmation of the package (subject to terms and conditions).
6. The disbursement of funds happens as fast as the next working day upon signing and accepting the offer.
Yellow Pages x Funding Societies Pre-Approved Financing initiative officially launched in October 2021, so if you’re a TM customer, go ahead and check your eligibility instantly here. Don’t miss this rare opportunity! It’s a truly unique financing solution that you won’t easily find elsewhere.