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FAQ

Your current location:QuicKash>FAQ>About Issuer

1.      Who can be an Issuer?

         Currently, we only accept applications from registered SME Businesses to become our Issuer. Potential Issuers shall undergo a screening

         process before the commencement of their campaign.


2.      Can I settle my financing earlier than the tenure?

          Yes, you are able to repay fund raised before maturity at no additional cost.


3.      How much money can I raise with QuicKash?

         At the moment, campaigns to raise funds range from RM10,000.00 to RM1,000,000.00

 

4.      How to register?

        

          All registrations shall undergo a screening process before being able to access your account with QuicKash

 

5.      What are the fees I have to pay?

         Issuers of QuicKash are subjected to reasonable fees compared to traditional financial instruments. Breakdown of the  fees payable

         by Issuers illustrated below:


           a.    Default Fee

   

Repayment Frequency

Default in Days

Default Fee

One-Time charge

1-60 days

100.00

One-Time charge

More than 60 days

200.00

        

          b.     Penalty Fee


                             Repayment Amount x 30%                     

                         ________________________________            X    number of days overdue  

                                          360 days


         c.      Processing Fee

                  A minimum non-refundable Processing Fee of RM100.00 (per application) is to be paid by issuer prior to QuicKash commencing                       work to review the Investment Request. 

 

         d.      Platform Fee

                  Platform Fee of 2% to 3% (calculated on financing amount, the rate to be determined by Issuer's Credit Score Rating) is

                  to be paid upfront by the Issuer to QuicKash by way of deducting from the Financing amount upon disbursement of each

                  Investment Request.

 

         e.      Stamping Fee *

                  Stamping Fee on Security Documents at the rate of RM5.00 for every RM1,000.00 of Financing amount and/or at nominal sum of 

                  RM10.00, whichever rate is applicable, is to be paid upfront by the Issuer to QuicKash or by way of deducting from the

                  financing amount  upon disbursement of each Investment Request.

 

         f.       Recovery Fee

                  Recovery Fee (at the rate to be determined by QuicKash on case-to-case basis) is to be paid upfront by the Issuer to QuicKash

                  or by way of deducting from the Repayment amount for the purpose securing the services of a 3rd party licensed professional

                  debt recovery agency on the recovery effort of Issuer's defaulted repayment.

 

         g.      Guarantee Fee **

                  Guarantee Fee (at the rate to be determined by QuicKash) for guarantee services provided by third party guarantee company

                  on the Issuer's Financing amount is to be paid upfront by the Issuer to QuicKash byway of deducting from the Financing amount

                  upon disbursement of each Investment Request.


         h.      Withdrawal Fee

                  Withdrawal Fee of RM1.00 inclusive of 0% GST for each successful withdrawal made.


6.      How does it work?

          

 

7.      What are the types of financing available with QuicKash?

         QuicKash shall cater for working capital financing, supply chain financing, demand chain financing and also collateralized financing.


8.      How long is the repayment period?

         Financing tenure may vary from one fund to the other. An issuer may engage on a minimum tenure of 1 month, or up to a maximum of 

         12 months for the exception of working capital financing. Working capital tenure may be as short as 7 days or 14 days.


9.      Generally, what is the range of interest payment if I opt to raise funds with QuicKash?

         QuicKash shall ad opt the simple interest calculation. The interest is priced at risk gradient subject to maximum capping of 18% p.a.

 

10.    What are the benefits of fundraising with QuicKash?

         a.     Competitive rates compared to conventional financial instruments.

         b.     Quick disbursement of funds compared to conventional financial instruments.

         c.     Alternative and legal financing option. Makes it appealing to issuers and reduces the necessity of borrowing from any

                “street lenders”.



        Note

        a)  All fees and charges listed herein will be subjected to Goods and Services Tax (GST) effective 1 June 2018 at prevailing rate i.e. zero

             percent (0%) unless stated otherwise. Service Tax will not be imposed on the fees and charges listed herein unless there is a change in 

             the applicable law. 

             Note: The GST will not be imposed on the fees for services rendered to 'non-resident' investor. 'Non-resident'  has the 

             meaning assigned to it in Income Tax Act 1967.

        b)  ** Services / Fees  is currently unavailable / not applicable