Funding Societies to provide credit facilities for Proton dealers

Funding Societies financing floor stocking purchases

Funding Societies is collaborating with Proton to provide credit facilities for Proton dealers to purchase cars for floor stocking.

South-east Asia’s largest SME digital financing platform, Funding Societies’s revolving credit facility will enable Proton dealers to increase their floor stocking inventory of used cars. They may use the facility any time and anywhere after activation.

In the second half of 2020, there was an increase in demand for cars because of the Covid-19 health crisis and concerns over shared transport. In addition, Proton dealers saw an increase in trade-in and trade-up transactions. The dealer financing from Funding Societies will give dealers the financial flexibility to fund the trade-in transactions.

Funding Societies was founded in 2015 to empower small and medium enterprises (SMEs) in Southeast Asia. Their aim was to solve the huge SME financing gap in Malaysia and the region. The digital platform has achieved this by easing access to financing for small businesses. In the past, this included the requirement for collateral, complicated and physical paperwork submission, as well as lengthy application process. Today, Funding Societies is South-east Asia’s largest SME digital financing platform.

Since 2019, Proton’s Used Car Management (UCM) unit has introduced operating procedures and provided training for Used Car Inspectors. The Used Car Inspectors manage transactions at each outlet and ensure services provided are in line with the expectations set by the brand. Currently, the company has 35 outlets retailing Proton Certified Pre-Owned (PCPO) vehicles in the country.

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