P2P lending ‘MoolahSense’ innovates with flexible short-term financing solutions for SMEs

 
KATONG, Singapore - Feb. 1, 2016 - PRLog -- MoolahSense, Singapore’s pioneer and most innovative peer-to-peer (P2P) lending platform, introduces innovative short-term financing solutions providing unparalleled flexibility and options to SMEs (small-to-medium enterprises) in all industry verticals.

SMEs can now finance their business in faster and more accessible ways customized to their specific business needs – such as overseas expansion, launching a new product, opening a new outlet, taking on new contracts, bolstering working capital, and asset financing, just to name a few.

Flexible Financing Solutions to Match Every Business’ Short-Term Needs

Equal Instalment. Businesses who require a 12-month financing to better manage their working capital to cover day-to-day operational costs can issue an ‘Equal Instalment’ note with equal repayments of the principal amount and interest over 12 months.

Principal Repayment Holiday. Businesses embarking on a new project with initial setup and development costs can tap on ‘Principal Repayment Holiday’ note - a slight variation of the ‘Equal Instalment’. The Business services only the interests on the first 3 months and resumes the equal instalment repayment of principal and interests over the next 9 months.

Bullet. Businesses who have accounts receivables with customers through invoices or purchase orders can issue a 3-to-6-month ‘Bullet Note’ to unlock working capital to better manage their finances and stay nimble for future business opportunities. Such solutions can also be used in grant financing where disbursements are post-dated. With a ‘Bullet’ Note, the business repays the principal and interests in one lump-sum on the specified maturity date.

Interests Only. Businesses who need to fully maximise the use of funds can issue an ‘Interests Only’ note that allows them to only service interests every month and repay the lump-sum principal at the end of maturity.

Callable. Businesses may enter projects where payments are made upon scheduled delivery. Some of these schedules may encounter unforeseen delays. To manage the uncertainty in project completion, Businesses can issue a ‘Callable’ Note that allows them to service quarterly interests, but provides them the option to redeem the Note fully on a quarterly basis once the project is delivered, saving on future interest costs.

With these innovative financing solutions, SMEs can procure funds starting from $100,000 at 3, 6, 9 or 12-month tenors. To date, MoolahSense has raised over SGD 5 million worth of business loans for SMEs in Singapore coming from diverse sectors: Education, F&B, Retail, Offshore Marine, Automotive, FMCG, Telecommunications, Logistics, Construction and many others.

Lawrence Yong, CEO of MoolahSense affirmed, “SMEs in various sectors have disparate needs for funding. This need is unfortunately not well addressed in the market as the existing financing solutions tend to be either overly restrictive or rigid. Alongside these innovations, we aim to provide greater choice, access and flexibility tailored for the specific needs of SMEs and avail these investment opportunities for everyday investors to consider.”

Seoul Yummy, a Korean casual dining restaurant, was one of those SMEs who listed a campaign on MoolahSense and tapped on the ‘Equal Instalment’ note. The campaign raised $200,000 in 15 days at 9.15% p.a.

"MoolahSense managed to launch our campaign in less than a month. After the campaign, we opened two new outlets in Singapore. The support of its investor community has motivated us in delivering better values to our stakeholders", Frank Lau, founder of Seoul Yummy, attested.

Aloysius Cheong, managing director and CEO of Olive Green Pte Ltd, has raised $110,000 in 2 weeks on a 3-month ‘Bullet’ note. Olive Green needed the fund with a faster turnaround time to support a larger-scale project.

“SMEs like us have needs for short-term cash flow to take on certain large projects. Banks are traditionally more conservative, processing takes a while, and comes with a locked-in period. In our case, we needed the funds only for a couple of months before our project bears fruit. We are humbled by the support that we have received from investors at MoolahSense and we intend to maintain the trust and develop a long-standing relationship with our supporters,” said Mr Cheong.

Media Contact
Freddie Lacorte
Senior Marketing Manager (MoolahSense)
freddie.lacorte@moolahsense.com
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