KUALA LUMPUR, 10 September 2019 – According to the World Bank Report on Financial Inclusion in Malaysia (dated May 2017), only 25% of the adult population and 15% in the B40 group, has formal bank borrowing. Hui Yik Seong, an ex-banker, founded Direct Lending Sdn Bhd (Direct Lending) in 2016 in order to aid the hardworking adults who are declined by formal banking channels and have limited viable financing options.
Direct Lending operates an online personal lending marketplace in Malaysia that enables borrowers to search, compare, apply and receive financing that best suit them in a fast, simple, safe and affordable manner. The company offers an end-to-end borrowing experience to borrowers, from receiving eligibility instantly, applying formally for a loan to receiving the cash in their bank account.
Direct Lending’s mission is to make transparent and affordable credit accessible to everyone at anytime and anywhere. The company’s services to borrowers are 100% free. In fact, to ease the borrower’s financial burden, Direct Lending offers a cash rebate to borrowers, with over RM 300,000 cash rebate has been given out to date.
Financing products on Direct Lending’s platform are underwritten by reputable financial institutions, co-operatives and credit companies, tailored for both civil servants and private sector workers. Direct Lending’s first financing partner is RCE Marketing Sdn Bhd, a fully owned subsidiary of Bursa Malaysia listed RCE Capital Berhad.