Afraid of Financing Scams?
How to Verify a Lender Before You Apply

There are too many unlicensed lenders outside, and you worry about being cheated before even receiving the funds.

This concern is valid. Malaysia’s moneylending industry includes both properly licensed providers
and unlicensed operators who use aggressive marketing to target SME owners under financial pressure.

How Unlicensed Lenders Typically Operate

While tactics vary, common warning signs of unlicensed or scam operators include:

Requesting an upfront “processing fee” before any assessment or disbursement
Pressuring you to sign an agreement without a clear breakdown of interest rate and total repayment
No verifiable KPKT (Kementerian Perumahan dan Kerajaan Tempatan) licence number
Contact only through personal messaging apps, with no registered business address
Approving very large amounts almost instantly with no documentation review

How to Verify a Licensed Moneylender in Malaysia

Before signing any financing agreement, a legitimate business should be able to confirm the following:

What to Check

What It Confirms

KPKT licence number

The lender is legally authorised to provide moneylending services

Registered company name (SSM)

The business entity behind the licence is verifiable

Maximum interest rate stated upfront

Confirms the rate falls within the KPKT-regulated cap (12% p.a. secured, 18% p.a. unsecured)

Registered office address

The business operates from a verifiable physical location

Written terms before any payment

No legitimate lender requires upfront payment before terms are disclosed

First N Ever's Licensing Details

First N Ever operates as a KPKT-licensed moneylender under the following details, which businesses are
encouraged to verify independently through official KPKT channels:

Registered company: First N Ever Financial Services Sdn. Bhd.
Advertising Permit No: WL7285/10/01-4/040927
Maximum interest rate: 12% per annum (secured loan) and 18% per annum (unsecured loan)
Registered office: B26-3A, Tower B, Vertical Business Suite, Bangsar South, No. 8 Jalan Kerinchi,
59200 Kuala Lumpur

What a Legitimate Process Looks Like

A properly licensed provider will generally:

Disclose its KPKT licence details before any commitment is required
Provide a written proposal outlining the interest rate and full repayment schedule
Never request payment before a facility is approved and disbursed
Allow time to review the agreement rather than pressuring an immediate signature

Frequently Asked Questions

How do I check if a moneylender is KPKT-licensed?

You can verify a licence number through official KPKT channels. A legitimate lender should provide this number and registered company name without hesitation.

Is it normal to pay a fee before receiving financing?

No. A legitimate licensed moneylender does not require an upfront processing fee before assessment or disbursement.

What is the maximum interest rate a licensed moneylender can charge in Malaysia?

KPKT regulations cap interest rates at 12% per annum for secured loans and 18% per annum for unsecured loans.

What should I do if I suspect a lender is not licensed?

Do not proceed with any payment or signed agreement. Independently verify the licence details before engaging further.

How to Secure SME Business Loans in Malaysia Even with an Imperfect CCRIS Record

Discover how licensed financial institutions evaluate credit risks beyond traditional CCRIS scores, and step-by-step actions to qualify for 3-5 day approval.

20 August 2026