Proton teams up with Funding Societies for dealer credit facilities

National carmaker Proton has begun collaborating with Funding Societies, Southeast Asia’s largest SME digital financing platform. The collaboration was announced earlier today via press release and it sees Funding Societies providing Proton dealers with credit facilities to finance floor-stocking car purchases.

Founded in 2015, Funding Societies  aims to empower small and medium enterprises (SMEs) across the region by solving key pain points for small businesses in accessing financing which include the requirement for collateral, complicated and physical paperwork submission, as well as lengthy application process.

Wan Ahmad Fadzli Wan Mustafa, General Manager, Proton Edar

“With Proton’s sales volume increase over the past few years, we have seen an increase of trade-in or trade-up transactions. Through the dealer financing service provided by Funding Societies, our dealers can finance the purchase of floor stocks to enable the trade-in transaction,” said Wan Ahmad Fadzli Wan Mustafa, General Manager, Proton Edar.

Dealers who wish to apply for financing may do so via Funding Societies’ online platform. They will be able to provide financing for up to 85% of the transaction value with repayment periods of up to 90 days.

“With this financial facility, our dealers can grow their business by raising short-term capital to manage their cash flow and even use it for new car purchases from Proton Edar as well,” continued Wan Ahmad Fadzli.

L-R: Wan Ahmad Fadzli Wan Mustafa, General Manager, Proton Edar, Chai Kien Poon, Country Head, Funding Societies Malaysia.

“Demand for personal vehicles saw an increase since the second half of 2020. Underlying this growth are concerns over shared transportation (Covid-19 health crisis) and accommodative government policies during the pandemic. With Funding Societies’ revolving credit facility, PROTON’s dealers can tap into that growth by increasing their inventory for sale across by increasing their floor stocking inventory of used cars," said Chai Kien Poon, Country Head, Funding Societies Malaysia.

More information regarding Funding Societies is available online via its official website, fundingsocieties.com.my.