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BRDGE P2P Lending

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P2P Lending/BRDGE P2P Lending
P2P Lending/BRDGE P2P Lending
4.5
221 reviews
claimed

Claimed

This product is managed by BRDGE.

USER RATINGS

User Experience

4.4

Portfolio Transparency

4.4

Customer Support

4.3

Quantity of Deals

3.9

Quality of Deals

4.1

BRDGE P2P Lending

15% on interest earned

INVESTOR FEES

$1000 per campaign

MINIMUM INVESTMENT

2.55%

DEFAULT RATE (2020)

BRDGE P2P Lending

15% on interest earned

INVESTOR FEES

$1000 per campaign

MINIMUM INVESTMENT

2.55%

DEFAULT RATE (2020)

Details

Product Page Transparency

  • Claimed in November 2020

BRDGE Review 2021

BRDGE, previously known as Seedin, is a MAS licensed P2P lending platform that aims to connect businesses to alternative sources of funding.

At the same time, it's also a platform for investors seeking to diversify their investment portfolio.

Based on the reviews left on Seedly, many users have commented that BRDGE is a credible platform with a user-friendly interface, has a diverse range of portfolios to choose from, and an overall low default rate.

As an investor on BRDGE, you will fund short-term loans and receive risk-adjusted returns of between 5% to 17% p.a. repaid monthly. To start investing, the minimum investment for BRDGE is S$1,000.

BRDGE Investors can get to choose the type of businesses they prefer to fund according to the level of risk while businesses can choose what type of financing they require. BRDGE will then help match these 2 parties accordingly. It's really that simple!

Read More about BRDGE P2P Lending
Reviews (221)

4.5

221 Reviews

  • 5
    157
  • 4
    40
  • 3
    11
  • 2
    5
  • 1
    8

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      Posted 10 Nov 2021

      Purchased

      BRDGE P2P Lending

      [Debt Recovery][User Friendliness][Portfolio Diversification][Lending Experience][Customer Support] Have been with seedin/brdge for 3 years now, and have invested a large portion in. However, none of my deals have been successfully returned, with constant extensions and delayed repayments. (One of which has been delayed over a month now). This came along with almost 0 contact with their investors regarding the situation, and any contact you make with brdge will come with a non-reply. The UI/UX for tracking repayments and delays are horrid, possibly intentionally obscuring investors from which deals are delayed. With the limited number of deals, diversification is nigh impossible too. Supporting local SMEs is important, but safeguarding the interest of local investors is too. I hope management could better consider their communication with investors on repayment statuses (at least a weekly update?) And be more transparent about delays/default rates. Until then, I would suggest new investors to seek some other platform like FS that does a better job at this.

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      Posted 06 Oct 2021
      Investing since May 2019 (updated Oct 2011) Pros: - the thing i like most about them is the speed of topping up. typically takes a couple of hours for them to verify the top up of funds. Their deals are also typically quite big with minimum investment of 1k so it is generally quite easy to fund out - i find their factsheets to be quite detailed (similar level to funding societies) Cons: - most of the loans are larger so if you have limited capital then you may not be able to diversify as much - lower quantity of deals compared to other platforms Update (Oct 2021): - a few of the bigger deals have been having problems repaying. I'm ok with this as I have been in the SME lending space myself for 10 years and this is nothing new to me, but the UI doesn't include a "notes" or "updates" for these delinquent loans, making it hard for investors to track. I think the UI needs to be updated as other funders like Minterest and FS do provide these updates for our viewing - recent deals have been increasing but imo credit doesn't look as stringent as before with a few fairly questionable deals. Suggestions to Management: - Not sure on the default rate reporting but IMO anything thats restructured should be reported under NPL/default rate on statistics (even if they <90days late as per repayment schedule). This is for transparency to the newer investors - UI can be improved. Have a dropdown menu under the cases for "Notes" and put updates for cases with delayed payment. More details are needed also, as to what actions the borrowers are taking to get back on the right path (cutting costs, alternative streams of revenue). I believe more pressure needs to be exerted on the borrowers as well - priority needs to be on protecting the retail investors.

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      Posted 05 Oct 2021

      Purchased

      BRDGE P2P Lending

      [Debt Recovery] Have invested in 3 different listings, total investment of 7000. All 7000 in the midst of default, each listings have extended by more than 12 months, monthly payments are not through too. Will not recommend to participate in P2P with Seedin/Brdge, can consider Funding society instead.

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      Posted 09 Sep 2021

      Purchased

      BRDGE P2P Lending

      [Debt Recovery] [Customer Support] I am one of those whose one of the deals got extended twice. I understand going into this investment that there is a risk that we will lose all capital gains and I am fine with that. What I am upset with is the support team and their communication or lack of it to the investors. As a "middle person" I believe Brdge have the responsibility to update investors should there be any delay should the borrower failed to pay on time. Instead, we would have to be the ones asking about the status of the repayment. They are also not transparent on their process of debt recovery even after enquiring about it. All I got is a standard template keeping on reminding investors that Brdge bears no responsibilities and that we were already told that we would lose all our investments. This is uncalled for when we are only enquiring about the status of repayment. Does that mean we as investors should just keep quiet and not enquire if there was a delay in our repayment? I would like to emphasize again, that we are 100% clear that there is a risk of losing our investments BUT there should be updates given to investors. Brdge should be more active in doing so.

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      Posted 07 Sep 2021

      Purchased

      BRDGE P2P Lending

      I have experiencing multiple loan repayment delayed for past 2 years, big chunk of my funds stuck inside and has difficulty of recovering the capital because the borrower keep delaying the loan repayment. Please be very careful when u invest into this crowdfunding platform, I won't recommend to any of friends for sure!!! Very upset with them!

      2

      BRDGE

      BRDGE

      04 Jan 2021

      Hi Seng Chong, sorry to hear that you're unable to participate in the deals via auto invest.
      The main reason why investors did not get an allocation is due to smaller loan size .
      3 examples as shown below: 
      1)Loan quantum : $30,000
      2)Loan quantum :$100,000
      3)Loan quantum: $20,000 

      Total Amount = $150,000

      As Auto Invest allocates 70% of the deal amount per deal, 30% will be open for manual investing.

      Minimum Investment of $1,000
      $30,000 x 70% = $21,000 (21 Investors Can be Allocated)
      $100,000 x 70% = $70,000 (70 Investors Can be Allocated)
      $20,000 x 70% = $14,000 (14 Investors Can be Allocated)
      Total Investors that can be allocated = 105

      Smaller deal size vs the number of investors on the platform will result in a limited number of investors that can be allocated. More information can be found via http://faq.brdge.tech/en/articles/1851010-how-d...

      We are striving to provide more creditworthy deals for our investors, this is of utmost importance to us. However we need to stay prudent to provide quality deals for our investors. Please reach out to us via live chat at https://www.brdge.tech or email [email protected] if you have any further queries. Thank you!

      Hi There,

      Even I had set Alfred Auto Invest for all your deal, I get none of deal so far for coming to 9 months. Therefore, the latest deal which happened yesterday, I decided to do a manual invest. Guess what? To no available also, so I decided to withdraw my funds rather than wasting time and opportunity parking my money with BRDGE!

      What are your thoughts?

      Reply

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      BRDGE for Investors

      Here are the benefits and features of investing with BRDGE:

      • Investors can get up to 5% to 17% p.a. of returns paid monthly
      • At BRDGE, investors can choose the types of diverse loans to fund and their respective tenure - from Real Estate Development to Marketing and Communications over a course of 3 to 24 months.
      • The short tenure is ideal for investors looking for shorter term investment opportunities.
      • Choose from a variety of markets from Singapore, Taiwan, Philippines to Cambodia
      • There has been 100% repayment rate to investors since 2013 with the default rate under 1%
      • Additionally, investors get paid monthly which means not having to wait for the loan maturity.
      • If a Borrower fails to make full repayment, BRDGE can charge a late fee which would then be split between the itself and the funders
      • It is a safe and reliable platform licensed under MAS; however, returns on investments and capital are not guaranteed as they are not SDIC protected.

      Risk Level

      % Returns

      Tenure

      Interest payment method

      High

      11%-12%

      1 -24 months

      • Reducing Balance
      • Balloon Payment

      Moderate

      9%-10%

      1 -24 months

      • Reducing Balance
      • Balloon Payment

      Low

      7%-8%

      1 -24 months

      • Reducing Balance
      • Balloon Payment

      Rate of Returns for Investors on BRDGE

      How to Invest with BRDGE?

      Individual investors have to be at least above 18 years old, with a valid mobile number, documents, and an eligible local or foreign qualifying full bank account.

      Corporate investors have to be incorporated in Singapore, with a valid mobile number and an eligible local or foreign qualifying full bank account.

      To create an individual investor's account:

      1. Register online, provide any relevant personal details, and agree to the risk disclosure as well as platform agreement
      2. Wait up to 3 working days for your KYC Approval
      3. Top-up at least S$1,000 to begin investing, when your account is open

      After a successful crowdfunded loan, a loan agreement will be created between investors like you and the business.

      If the crowdfunding campaign is a bust, your funds will be released back to your account and you can try again after doing your analysis of the various SME loans and portfolios out there.

      BRDGE For Borrowers

      Sometimes businesses need a little help with cashflow for things like inventory, equipment costs, unexpected expenses or even expansion. BRDGE can help match those seeking short-term business loans with a pool of willing investors.

      Here are some of the features of BRDGE for Business Financing:

      • BRDGE provides loans in the form of business loans. It helps businesses boost cashflow easily through BRDGE's flexible and fast p2p financing.
      • BRDGE is more likely to fund SMEs than other traditional financiers like banks.
      • Additionally, the repayment of loans is done via fixed rates so there will not be additional hidden costs.
      • Investing can be done through a corporate entity or just individually
      • More about BRDGE for lenders:

      Repayment Term

      1 to 24 months

      Type of Rate

      Fixed Rates
      No hidden fees, simple and transparent

      Early Pay Off

      No penalty for early repayments

      Fund Amount

      from $20,000 to $5,000,000

      Minimum Investment and Fees for BRDGE

      The minimum investment for BRDGE is $1,000.

      Risk Management Fee: 15% of all fees earned

      Account Management Fee: S$88

      Withdrawal Fee: There are no fees required to withdraw your funds from BRDGE

      Success Fee: 3% - 5% p.a. for every successful crowdfunding exercise. (For Borrowers only)

      Contact BRDGE

      • Tel: 6916 1799
      • Address: 57 Mohamed Sultan Rd, #03-05, Sultan-Link, Singapore 238997
      • Visit BRDGE official website for more information

      Contact us at [email protected] should you require any assistance or spot any inaccuracies.

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