Introducing Affordable Borrowing With Direct Lending

If there is one thing that business owners and the regular working joes share in common, it is that both can have a hard time in securing quick and easy financing, be it for business or personal use. 

Fortunately, there are licensed financial services providers who specialise in this segment of financing. One such company is Direct Lending.

Who is Direct Lending?

Direct Lending has rather humble beginnings, starting out in late 2016 as a digital lending marketplace platform. They helped borrowers to find, apply, and receive personalised financing that best fits their needs in a safe and affordable way. 

In March 2022, Direct Lending launched its first point of sales financing solution, a Shariah-compliant auto service financing solution. This solution is to help car owners obtain the funds they need to pay for their essential car repairs instantly. This was quickly followed by an expansion of services, offering financing to micro-SME businesses in December 2022.

Today, there are currently over 30 financing providers on its platform, from co-operatives, Bursa Malaysia listed companies, licensed moneylenders and credit communities. In recognition of their quality and excellence, Direct Lending has been recognised as the Top Rising Star of The Year by Fintech Frontiers Award 2023, while also being a recipient of Cradle CIP300 funding in 2019.

What does Direct Lending have to offer?

As a premier digital lending marketplace platform, Direct Lending’s number one priority is to connect you to quality, highly personalised loans that fits your immediate needs as fast as possible. As for their products, Direct Lending offers the following services:

Licensed money lender personal loan

Direct Lending connects borrowers to moneylenders who are licensed by the Ministry of Local Government Development (KPKT) under the Moneylenders Act 1951. All licensed moneylenders will receive a valid license detailing the company name, address, license number and the validity of the license.

Under the Moneylenders Act 1951, the interest rate for unsecured loans is not more than 18% p.a. while secured loan is not more than 12% p.a.

Auto service financing

The Auto Service Financing (Service Car Now, Pay Later) is a shariah-compliant, unsecured financing facility. It is solely for auto service purposes. Approved loans will typically be disbursed to the workshop partner where you service your vehicle, providing services under Direct Lending’s designated service platform partner. This loan facility is calculated based on a fixed profit rate, resulting in a fixed instalment throughout the preferred tenor.

SME micro financing

For small/medium business owners in search of funds for expansion or working capital, Direct Lending’s micro financing solution can help boost cash flow. This facility is provided by Direct Lending’s licensed business partners, with no upfront application fees or deposits required. Both Islamic and conventional financing is offered. You can also view our business loan listing page to get more options on business financing.

Why choose Direct Lending

Direct Lending’s mission statement is a simple one. It aims to bridge the credit gap and foster financial inclusion through sustainable and scalable digital financing. As mentioned previously, they aim to do this by providing borrowers with access to seamless and personalised lending experiences that fits their needs in a timely manner.

To this end, Direct Lending’s services adhere to several core principles. These include:

1. Understanding why borrowers are in need of funding to better customise their experience.
2. Approaching situations openly and with transparency to build trust.
3. Making customers the star of the show to deliver an excellent experience.
4. Fostering a culture of mutual respect.
5. Encourage a growth mindset to continuously improve.

How Direct Lending works

Direct Lending prides itself in delivering a smooth customer experience. As such, applying for a loan can be done in a few simple steps, as seen below:

1. Visit the Direct Lending website.
2. Select the type of loan you are looking for from the “What we offer” tab.
3. Click “Find my rates” and enter the required information to find out what you qualify for.
4. Upon successful qualification, submit your identity & income documents in the most convenient way of your choice.
5. Receive a call from your chosen financier to verify your application details.
6. Relax and wait for the cash to roll into your bank account in as early as 24 hours.

For more information on other financing options, view our iMoney personal loans listing page so you can compare and find the best one to suit your needs.