Alex Chua Cheng En - Seedly
Alex Chua Cheng En

Eager learner of investment (learn it for 6 months). Have been playing with p2p lending platform (funding societies) for 4 months

Alex Chua Cheng En

Pcme at Anderson Junior College

20Upvotes

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Eager learner of investment (learn it for 6 months). Have been playing with p2p lending platform (funding societies) for 4 months

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Alex Chua Cheng En

Pcme at Anderson Junior College

20Upvotes
  • Answers (37)
  • Questions (2)
  • Reviews (2)

SeedlyTV EP07

P2P Lending

Loans

Investments

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Answered on 11 Sep 2019
P2P lending intentions are to serve those that are underbanked. Making collateral compulsory will make access to loan with higher barrier to entry. Businesses with intention to expand yet no collateral will be undermined. Of course, loans with collateral is appreciated. Instead, interest is reduced. Thus p2p platform has to use other matrixes to evaluate companies without collateral. What services are given to prevent companies to default? What to do if companies were to default?. Investors need to understand that p2p lending is an unsecured loan. How do we diversify risk? How do we better support these companies and who do you want to help? Ask yourself more questions to better understand p2p lending and better take advantage of the platform

Investments

Stocks

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Answered on 02 Aug 2019
Unless you are sure, I actually recommend you to look into sti or robo-advisors. If you are investing only $500 on the stocks. The cost is at an average of $50(25in and $25 out), exclusively. The fee is already 11% of your total (50/550 100%). You would need your stocks price to grow 110% to at least break-even.

SeedlyTV EP07

Investments

P2P Lending

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Updated on 20 Jul 2019
It is not impossible. The European P2Ps are doing it recently. It could be one option the p2p funding in singapore could move into provided they have sufficient spread of loan Still, picking individual loans has their own merits too

Investments

Funding Societies

P2P Lending

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Answered on 20 Jul 2019
Just wondering where do you get the information. All p2p platform have faced faults or late repayments. 0% default rate is not a good sign too. You do need to go and clarify. I also have 2 defaults, still a positive for me. Do not be too greedy and still do your due diligence even within the platforms. Pm me if you need advice

Investments

P2P Lending

Funding Societies

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Answered on 20 Jul 2019
Hi. 1.Set up your auto invest function. There are guide in funding societies help Centre. This will guarantee your allocation of your desired loans. 2.learn to read fact sheet. There are guide in their blog or forums. Crowdfundtalks.com 3. Remember to divest. You can just invest on every loans and /or borrower but spread it equally. E. G $20 loans each with your $1000deposit

SeedlyTV EP07

Investments

P2P Lending

Minterest

CoAssets

Capital Match

Funding Societies

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Updated on 20 Jul 2019
Here are my 2-cents thoughts. As much as p2p is a tech driven fintech, it is still a service industry nevertheless. To me, whatever technology features such as auto-invest will soon be commonly used by the platforms. Without them, they will lose an edge. So you could start by asking yourself what would you like to have as an investor or a borrower. For a borrower, would be probably necessary financial advice so that they will get sufficient funds. Etc. For an investor, you want as lower risk loan as possible. Is there a sufficient supply of loans? Which platform provides a better investing experience? the extensiveness of platform providing the loans. How receptive are the platform to feedback and their responsiveness in changes? Having a good customer base, along with a good support team could improve your rewards and user experience. Furthermore, having 0% default rate is ideal. However, is your funds put into desirable rewards investment? This also questions the response of the platform in a situation of defaults. In choosing the platform, ask yourself what gives you a better piece of mind. Is it within your risk-reward? Which loan product do you prefer? (there is some difference in loans offered among the platform) what is your ability? (your fund size and risk tolerance ). You should also filter the reviews and forums of the platform. Remember this is a service industry. In my opinion, a good service, or user experience should be the main factors in choosing the platform. A good service attracts more borrowers and in turn attracts more investors. A good service is what drives the platform to innovate and constant improve themselves. Do your due diligence. Feel free to Facebook msg me if you have any queries.

SeedlyTV EP07

P2P Lending

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Updated on 20 Jul 2019
I can only simply say, use other platform. I would recommend you to look into other p2p platform. There are platforms which has a low investment amount. Funding societies and moolah sense need you to deposit a minimum deposit of $500. Each loan is $20 which can spread your risk to 25 loans. This is sufficient to cover 2 defaults worth of $20 Minterest needs a minimum deposit of $1000. Each loans are at least $50-100 if I call correctly. Need referral for funding societies or advice. Feel free to fb msg or comment

SeedlyTV EP07

Funding Societies

P2P Lending

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Answered on 20 Jul 2019
Here are some of my thoughts : 1.your minimum sum invested is too small. You can set a higher amount. Or you can try your luck when the loans are listed to put in more. 2 recently, most loans listed are small with maximum of $20-50. Remember you are not the only investors. 3. There is simply too little supply of loans requested by borrowers. You can help recommend your business partners if they need debt financing. So more supply of loans is issued 4. There is a consolidation of loans in views of unfortunate spike in defaults in Q2 2019 faced by p2p and banks 5. There may be a lot of rejection towards borrowers by the platform itself because some borrowers simply have poor cash management. I would like to thank funding societies for the due diligence. Dear borrowers, please help yourself first (understand your business and financial health) before seeking help from others. P. S I am shock to see that u have invested 23k into funding societies alone. Such a large sum. How I wish I have such an amount. I can do a lot of things with it. Lol Advice :maybe it is time to divest and spread your risk. Look into other platforms not just locally but also globally. You could fb msg me for advice or you can go to crowdfundtalks.com to seek advice

SeedlyTV EP07

P2P Lending

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Updated on 20 Jul 2019
May I ask how much is enough information to you? What other information you would like to have? Remember that borrower has their privacy concerns too and the platform would need to strike a balance. Honestly, I personally feel that the fact sheet is sufficient enough to deduce payment behaviour and ability of the borrower. You could always opt out the loans if it is not within your risk appetite. Do note that most loans are catered towards SMEs with short business history. P. S I myself also would like to have more information

SeedlyTV EP07

P2P Lending

Investments

Alex Chua Cheng En
Alex Chua Cheng En, Pcme at Anderson Junior College
Level 4. Prodigy
Answered on 19 Jul 2019
You can go ahead and check their website. It is easy to find. I know funding societies, moolah sense and minterest have them. There are definite advantages for autoinvest. It gives you priorities on the loans you desired or preferred. It helps you secured your loans You also do not have to waste time waiting for loans. You can always opt out when u dislike the loans and put more if you prefer the risk-reward of the loans. Thus, I would say it will be convenient to have this auto invest function set up
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Level 4. Prodigy
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