Funding Societies inks deal with Proton to provide credit facilities for dealers to finance stocking

Proton Edar general manager Wan Ahmad Fadzli Wan Mustafa (left) and  Funding Societies Malaysia country head Chai Kien Poon

Proton Edar general manager Wan Ahmad Fadzli Wan Mustafa (left) and Funding Societies Malaysia country head Chai Kien Poon

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KUALA LUMPUR (Nov 15): SME digital financing platform Funding Societies is collaborating with national car maker Proton Holdings Bhd to provide credit facilities for dealers to finance the purchase of cars for floor stocking.

In a statement on Monday (Nov 14), Funding Societies Malaysia country head Chai Kien Poon said 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,” he said.

Chai said the revolving credit facility provides Proton’s dealers with a more seamless experience and they may utilise the facility any time and anywhere upon its activation.

Meanwhile, Proton Edar general manager Wan Ahmad Fadzli Wan Mustafa said with Proton’s sales volume increase over the past few years, the company had 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,” he said.