Borong Credit FAQ & Support
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Have a question? Browse the FAQs below or contact our support team for assistance.
General Questions About Borong Credit
What is Borong Credit?
Borong Credit is a financing solution that provides Instant Credit (RM500 - RM2,500) and Invoice Financing (RM20,000 - RM250,000+) for businesses to purchase inventory on Borong without upfront payment.
Who can apply for Borong Credit?
Any Borong-registered business can apply. If you are new, sign up for a Borong account first before applying.
What can I use Borong Credit for?
Borong Credit can only be used for purchasing inventory from Borong's suppliers. It cannot be withdrawn as cash or used outside of Borong.
Is there a difference between Instant Credit and Invoice Financing?
Yes.
- Instant Credit (RM500 - RM2,500): No documentation required, fast approval in 48 hours, auto-repayment via credit card in 60 days.
- Invoice Financing (RM20,000 - RM250,000+): Requires business documents, manual review in 14 working days, repayment due in 60 days, and financing rates of 7%-9% p.a.
Instant Credit - Application & Eligibility
What are the eligibility requirements for Instant Credit?
You must be a Borong-registered business, provide a credit card for RM500 credit, and optionally upload your SSM business registration to qualify for RM2,500.
How fast is the approval process for Instant Credit?
Approval is completed within 48 hours after review.
How do I increase my Instant Credit limit?
Upload your SSM business registration to upgrade from RM500 to RM2,500.
What happens if I miss a payment for Instant Credit?
If we fail to charge your credit card, your checkout on Borong will be disabled until the overdue balance is paid, your remaining credit will be frozen, and a RM20/month late fee will be imposed for failed transactions.
Invoice Financing - Application & Eligibility
What are the eligibility requirements for Invoice Financing?
You must be a Borong-registered business, submit required business documents such as management accounts, bank statements, CCRIS/CTOS reports and SSM, and have valid outstanding invoices on Borong.
How much financing can I get?
You can apply for RM20,000 to RM250,000+, depending on the documents submitted. Higher limits are available for businesses with a strong repayment history.
How long does it take to get approved for Invoice Financing?
The review process takes up to 14 working days.
How are funds disbursed after approval?
Upon acceptance, the approved credit limit will be available in your Borong account, allowing you to purchase inventory immediately. Apply for Invoice Financing.
Repayment & Late Fees
How do I repay my Borong Credit?
Instant Credit is auto-charged to your credit card after 60 days. Invoice Financing must be manually repaid within 60 days via bank transfer.
What happens if I miss my Invoice Financing repayment?
If payment is overdue, your credit limit will be frozen, late fees may apply, and your account may be restricted from future financing.
Can I repay early?
Yes. Early repayment improves your credit score with Borong and may qualify you for a higher credit limit in the future.
Support & Troubleshooting
How do I check my current credit limit?
Log in to your Borong account, go to Accounts & Finance, and view your available limit under Instant Credit or Financial Credit.
How do I upload documents to increase my credit limit?
Click here to submit the required documents.
My credit card charge failed - what should I do?
- Ensure your credit card has sufficient funds.
- Try a different card on your Borong account.
- Contact your bank to check for declined transactions.
Can I cancel my Borong Credit application?
If your application is not yet approved, you can request cancellation by contacting support. If approved, you must repay outstanding amounts before cancellation.
How do I contact Borong Credit support?
Reach us via email at credit@borong.com.
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