Boost, a homegrown e-wallet company has announced a low-cost financial support ‘Aspirasi Capital for Boost’ to support micro-enterprises and SMEs (MSMEs) for their upcoming Ramadan sale operations.
‘Aspirasi Capital for Boost’, provides MSMEs with a low-cost micro-financing aid of up to RM20,000 per MSME for an 18-month tenure, interest-free with no repayment for the first six months. MSMEs will enjoy a low-interest rate of only 0.5 percent monthly and the repayment will be counted from the seventh month onwards.
Mohd Khairil Abdullah, Chief Executive Officer of Boost said, “Many micro-businesses are particularly affected and it’s harder on them because many don’t have access to the traditional financial system. Realising this, last year we moved beyond digital payments into digital financial services and ‘Aspirasi Capital for Boost’ is part of our new solutions for merchants.”
MSMEs can utilise the financial support to alleviate overhead and operating costs such as bazaar space rentals, raw materials or ingredient costs. The financial support can also be used to digitalise their business with contactless payment to assist local developments.
On top of micro-financing, Boost is building a robust digital ecosystem for MSMEs with an array of innovative solutions, benefits and rewards to digitally and financially empower them through its omnichannel e-wallet platform.
Boost is also adding the “Boost Business Payment Feature” that enables a contactless payment solution in which merchants can send a URL payment link via any messaging app and accept payments anytime and anywhere.
“We hope that with ‘Aspirasi Capital for Boost’, we can create financial buffers for merchants to re-emerge stronger in time to enjoy a more joyous Hari Raya Aidilfitri this year”, Khairil added.