Crowdsourced SME loans will be available from September in Malaysia, following news that Malaysia passed a Bill in late June to be the first ASEAN country to allow equity crowdfunding. Great news for the region which is falling behind the US And UK where millions of dollars are being raised weekly for start-ups via sites such as Crowdfunder and Crowdcube. Thailand are following closely behind.
In Malaysia, for the first year, the borrowing limit will be the equivalent of US$750,000, but individuals limit in the lending will be US$1,250, a low limit but set to reflect the risk surrounding this venture, but it’s a start and clearly this will be followed closely in terms of the number of loans that fail and investment limits adjusted accordingly.
Six platforms have been approved with the first roadshow in Johor Bahru on Thursday August 13, presumably to get close to the lucrative Singapore market.
Article from the Star dated August 10
Article from CrowdFund Insider dated July 1 regarding initial Bill passing
SME News Asia
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