P2P Lending

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P2P Lending
  • Asked by Anonymous

    Cassandra Tho
    Cassandra Tho
    Level 5. Genius
    Updated 2d ago
    I’m Cassandra and I’m online community manager from CoAssets. To better engage the investment community, I’m here to provide more insights on what the company actually does. Firstly, CoAssets Limited is the first listed (on ASX) online funding platform in Southeast Asia. It is continuously growing with a current member base of more than 500,000 (As of 30 Dec 2018) and a regional presence in Singapore, China, Hong Kong. While most online funding (or some would term it as Peer to Peer Lending / crowdfunding) platforms focuses on invoice financing and/or SME working capital financing, CoAssets Pte Ltd focuses on short-term project financing in the real estate, movies and alternative investment sectors. To give investors an idea on the types of projects we have successfully funded (via CoAssets Pte Ltd - our licensee subsidiary), here are some examples... The latest successfully funded project is a titled “I’m Livin’ It” starring renowned movie stars Aaron Kwok and Miriam Yeung. I’m Livin’ It Details of the project: Funding Amount: S$1,000,000 Rate of Return: 9% p.a. Repayment: Quarterly Tenure: 360 days Other successfully funded movie projects: A Lifetime Treasure - Feb 2019 Spinning Man - Jan 2019 Pad Man - Nov 2018 The 8 Year Engagement - Oct 2018 Black Water - Aug 2018 We look forward to serving more lenders and borrowers, as we strive to become the leading online financial platform for the region. If you have any questions, feel free to drop us an email at [email protected] :)
  • Asked by Anonymous

    Gabriel Tham
    Gabriel Tham, Kenichi Tag Team Member at Tag Team
    Top Contributor

    Top Contributor (Apr)

    Level 8. Wizard
    Answered 2w ago
    For P2P loans, you are earning interest income. That is taxable and need to be declared in iras. Dividends and capital gains are not however, P2P loans are not considered capital gains or dividends. https://www.iras.gov.sg/IRASHome/Individuals/Locals/Working-Out-Your-Taxes/What-is-Taxable-What-is-Not/Interest/
  • Asked by Anonymous

    Cassandra Tho
    Cassandra Tho
    Level 5. Genius
    Updated 2w ago
    Hi there! This is Cass and I’m the community engagement manager from CoAssets :) Firstly, to answer your question, a default rate is the percentage of outstanding loans that has yet to be repaid after 30 days (according to MAS). This has been covered by some of the other post in this thread and the one my Kenneth Fong is quite comprehensive so I shall not repeat those points 😅😅😅 In terms of other tips and details, a new investor like yourself should first take a look and see how those default rates stack up. Based on what’s published online, the default rates for the various platforms for 2018 are shown below: 1. Moolahsense: 14.82% 2. Minterest: 0.59% 3. Funding Societies: 0.47% 4. SeedIn: 0.32% 5. CoAssets: 0.00% Apart from default rates,some other information that you may want to look into before participating are: 1. Transparency of the platform 2. Suitability of the platform 3. Risk Assessment for loans Some questions you could ask yourself: 1. Do platforms have their financials readily available? 2. Do you prefer to diversify across many small loans or concentrate your money on several bigger loans? 3. Are you comfortable with the minimum investment amount? It is important to ask the right questions before taking part in any sort of investments. I hope this answers your question :)
  • Asked by Qingling Wu

    Gabriel Tham
    Gabriel Tham, Kenichi Tag Team Member at Tag Team
    Top Contributor

    Top Contributor (Apr)

    Level 8. Wizard
    Answered 3w ago
    Stashaway is not a P2P platform. Stashaway is a roboadvisor/robo investing platform. How it works is you create an online account with them. Get a basic risk and financial profiling. They recommend you a portfolio based on your risk profile. You decide how much you want to invest, and deposit the money. They do all the investing for you for a small fee. They don't buy individual company shares rather they invest in ETFs (exchange traded funds) which is a fund containing hundreds of companies and benchmarked against an index.
  • Asked by Anonymous

    Ang Yee Gary
    Ang Yee Gary, Medicine at National University Of Singapore
    Level 3. Wonderkid
    Answered 3w ago
    I can't post the link but they use the term invest loosely. U actually lend to sme so your returns are interest income and u have to report it. In singapore just report it and if your total assessable income is less than 20k then no tax is paid.
  • Asked by Charmaine Lim Xiaomei

    Cassandra Tho
    Cassandra Tho
    Level 5. Genius
    Answered on 26 Apr 2019
    Hey there, I am Cass, the community manager at CoAssets! I am unable to comment on behalf of other platforms, however, I hope that I would be of help explaining the processes of CoAssets. Unsecured loans are loans without collaterals. In the event that the P2P borrower defaults, within 30 days from the maturity date, CoAssets will schedule face to face meetings to remedy the fault, restructure loan if possible and inform affected investors. 31 to 60 days upon maturity, a third-party professional debt collector will be hired to collect from the borrower the unpaid amounts. 61 to 90 days upon maturity, CoAssets will obtain the Power of Attorney from the affected investors to act on their behalf. Anything more than 90 days upon maturity, legal proceedings will commence against the borrower. P2P lending are considered high risk investments. There is always a chance where lender might lose 100% of principal pledged. In order to make a more informed decision, always make sure to do your own due diligence before participating i.e. Default Rate % I hope I answered your question 😄
  • Asked by Anonymous

    Cassandra Tho
    Cassandra Tho
    Level 5. Genius
    Answered on 25 Apr 2019
    Hey there! I’m Cass, the community manager from CoAssets. P2P lending platforms are getting more popular these days as they give investors access to alternative investment opportunities that offer higher returns (as compared to the traditional financial products currently available). I am unable to comment on behalf of the other platforms, however investors who pass CoAssets’ KYC process are NOT expected to put any funds (in the escrow account) beforehand. They only need to do so once they want to invest. Unfortunately, this means that we may take a slightly longer time to close a deal (as investors will have to transfer funds each time they want to invest) 😞😞😞 BUT it means that your money is made to work even harder for YOU as it will not be sitting idle in the (non interest bearing) escrow account 😅😅😅 Hope this helped! :)
  • Asked by Anonymous

    Zann Chua
    Zann Chua
    Level 6. Master
    Answered on 19 Mar 2019
    Hello! P2P lending generally has a high risk but a high return. As a beginner investor, it is very important to know what excatly you are investing in. In the case of P2P lending it is important to know exactly who you are lending your money to. Choosing which platform to use is also important as each has its own benefits. Every investment carries risk, just make sure you know what you are investing in. All the best in your investment !
  • Asked by Anonymous

    Ernest Yeam Wee Leong
    Ernest Yeam Wee Leong
    Level 4. Prodigy
    Answered on 19 Apr 2019
    Based on the scenarios that you mentioned above, i will be able to answer you since i have invested via coassets before and faced the same situations as you. 1) if there is a project which you funded but eventually the project is not fully funded, you will receive a refund for it back into your coassets account. you can decide if you want to withdraw or leave it there for other investment projects. 2) regarding the rates, it will be best to clarify with the coassets staff directly. The project details will indicate specifically the amount you will receive based on what you invested. Attached is my transaction history in coassets for reference
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