facebookBRDGE P2P Lending Reviews and Comparison - Seedly
P2P Lending/BRDGE P2P Lending
P2P Lending/BRDGE P2P Lending
4.2
240 reviews
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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!

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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)

Reviews (240)

4.2

240 Reviews

5
157
4
40
3
11
2
6
1
26

Service Rating

User Experience

4.0

Portfolio Transparency

3.9

Customer Support

3.8

Quantity of Deals

3.5

Quality of Deals

3.7
      Posted 19d ago

      Purchased

      BRDGE P2P Lending

      Oh dear, it seems that the fake positive reviews are getting out of hand. Beware of fake positive reviews to bolster their terrible reputation and service. Fake reviews should note that raising actual issues are not trashing the company. Praising the company while they are not doing anything does not provide the right info. If the positive reviews are saying they actually done anything, feel free to comment and update what are the things they had taken to minimize the loss to the investors. Please note capital that investors can afford to lose does not equate that BRDGE have the right to act in Borrower's interest and increase the risk that investors might not recover their money. What BRDGE ought to do is to just adhere STRICTLY to the loan agreement and before deciding on any actions should obtain agreement of ALL relevant investors. Till date, there had been no monthly meetings nor updates that were provided. Their past track records were good, but to say recent CASES (please note more than 6 months of defaults is not very recent and its not only 1 default, it is in plural) played down the matter a lot. Responsiveness wise, look at how long they took to reply to complains on Facebook. If the company had been faithfully paying their dues as well as if BRDGE had been doing their job well, there wouldn't be so much negative reviews. Kindly refer to other Crowdfunding platforms to see the huge differences. Until now, BRDGE had not been acting in accordance to the loan agreement. Instead BRDGE: 1) is avoiding at all cost to pursue the default payment back for investors 2) is not protecting investor's rightful interests 3) unilaterally decided to 'extend' loans to borrower by only give investors to opt in/out for borrowers that want to extend the loan. In fact, the borrowers should REPAY the full loan and reborrow if necessary.

      2

      What are your thoughts?

      My reply to fake reviewer's deleted reply just for reference. Fake reviewer's deleted reply in below comment.

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      Posted 20d ago

      Purchased

      BRDGE P2P Lending

      [Customer Support] & Lending Experience So far my experience with BRDGE has been great. Was invited to their small group monthly “Meet and Greet with the Management” on 2 Aug 2022 after COViD SMM was loosened and was able to speak with their CEO and team members face to face. Their track record has been good , unfortunately heard from you guys the recent case(s) of default, which I supposed they are working hard on them. I was referred to BRDGE by a colleague who has good experiences in the past years with 1 case of delayed payment - he got repayment back but the company needed some time. The BRDGE team was also very responsive to my questions via WhatsApp after the meeting. Their liaison officer in charge, has been helpful and direct my queries to the right person in their team. I don’t think the company is here to upset investors like you and me. They are helping small investors like us to make a decent return on our hard earned money with some risks involved. As long as you don’t put your entire life savings into one company but spread out your “loan” to different companies, it should be fine when one company delays or defaults in their payment. Trust that the BRDGE team is working hard on them. “Thrashing” the company down by all these postings is not constructive and helpful to anyone of us who has placed a stake in some “lending” to companies that has been faithfully paying their dues. Please make appointment to see them face to face at their office. [Customer Support]

      0

      What are your thoughts?

      Posted 23d ago

      Purchased

      BRDGE P2P Lending

      Caveat Emptor: Research on BRDGE on all social media platforms prior to investing through them. Do scrutinize the reviews. All these past positive reviews seem to stem from BRDGE's promotion that they ran in the past ($5 Grab voucher). DYODD on the Crowdfunding platform first, then the Borrowing Company. No doubt high risk investment comes with default, which is beyond the fault of BRDGE. The main gist is how BRDGE had performed their fiduciary duties in accordance to their SOP and loan agreement. BRDGE had not shown their resolve, and been avoiding to provide a decisive solution for the loan defaults. Investors that all invested in the same tranche were not updated promptly and also not gathered together for a town hall to allow all the investors to make a decision unanimously. Instead, BRDGE is arranging for meetings individually and no distinct/concrete solution has been provided to solve ARUNA's loan default. I am not sure why there is a disparity amongst some minority portion of the reviews here which mentioned updates had been provided. But for my experience, other than some perfunctory replies, there is no update and no resolution. For some reason, BRDGE is avoiding holding a town hall to be accountable for the affected investors and randomly citing PDPA as a reason not to hold a town hall, which obviously is not a valid reason (can refer to PDPA website). Borrower defaults on loan due to whatsoever reason(s), BRDGE has the duty to update and advise ALL INVESTORS in a TOWN HALL and let all investors come to a unanimous vote on a decision, it is not up to BRDGE to decide for investors. The longer BRDGE delays, the higher the risk of reclaiming lesser (do note not all businesses recovers). BRDGE advocates to provide support to the borrower for COVID-19 situation, BRDGE should also encompass responsibility and support investors/lenders who may also have encountered issues from COVID-19. TLDR, this is not investing with high risk, this is practically donating your hard earned money.

      0

      What are your thoughts?

      Posted 27 Aug 2022

      Purchased

      BRDGE P2P Lending

      Have invested in 9-10 deals, all defaulting and delayed by a year - 100% default rate for me. I think it is lost cause as I see no progress or efforts done to recover the money. It is absolutely horrendous experience with zero transparency, I am at the mercy of Brdge with no idea what is happening. I expected much more from MAS regulated institution which protects investor and hence I went ahead, it’s better to invest in crypto than in brdge. Stay away

      0

      What are your thoughts?

      Posted 25 Aug 2022

      Purchased

      BRDGE P2P Lending

      It has been 6 months since my first default loan occurs and since Mar 2022, I have beem engaging Brdge at all level. Brdge has failed to align their Loan recovery actions as stipulated in the Loan Agreement. As our agent, Brdge's role is mechanical and administrative in nature. Yet, Brdge proceeded to do unauthorised restructuring earlier and now getting VC fund raising without doing clause 13.1 and clearing clause 26 in my Loan Agreement. When I pointed out to Brdge the clauses in the Loan Agreement, Brdge went radio silence on email and mobile hotlines since 2 Aug 2022. This new team is not any better and gave me silent treatment. This MAS regulated institution is definitely high in operational risk and thus resulting in high default (for those loans not paid in my portfolio). I trusted Brdge too much and overly relied on their fact sheet and repayment grading. Brdge fails in their fidicuary duty to the existing Matched Lenders big time as they continue to deviate their actions from the Loan Agreement. This is a wilful misconduct. Recently, Brdge keeps focusing on new loans and neglected the existing affected Matched Lenders. Their operational risk is way too high and beyond one's acceptable level to date. Positive :) Let me end off with a positive note as well. I must say the Loan Agreement I entered in Sept 2020 in 2021, are very well written and very fair. We just need Brdge and the Borrowers to adhere strictly to it. That's all.

      0

      What are your thoughts?

      Posted 24 Aug 2022

      Purchased

      BRDGE P2P Lending

      [Risk Assessment] High in operation risk! [Customer Support] Extremely Poor. A team of foreigners. [Debt Recovery] Brdge sided with borrower. [Lending Experience] Too many default. Not recommended!

      0

      What are your thoughts?

      Posted 14 Jul 2022

      Purchased

      BRDGE P2P Lending

      Use to be good but now too many defaulting and no action from the company. Borrow keep delaying payment and Brdge just extend the duration for repayment with no interest income for investor. Brdge dont care about the investor. Please do not invest with them. Be careful.

      0

      What are your thoughts?

      Posted 04 Jul 2022

      Purchased

      BRDGE P2P Lending

      invested in 10 deals the last 2 years. 4 completed, 3 delayed, don’t dare to think of what will happen to the other 3 on going ones. some deals defaulted during early stage of the investment with no news or any follow up. understand that this is a high risk investment but the default rate is scary high. totally do not recommend, go treat and pamper yourself if you want to throw money or donate it to someone who needs it! goodluck!

      0

      What are your thoughts?

      Posted 04 Jul 2022

      Purchased

      BRDGE P2P Lending

      Wish I went to Casino instead would have had more fun. Invested 19k+ in 20 deals and will be lucky to get $5k back so looking at a 75% loss. Company is totally not committed or bothering with debt recovery whatsoever. Surely they can petition the company to go after assets or directors but nothing. Avoid, Avoid, Avoid. I absolutely have no idea how the "default statistics" of 2.5% is accurate - it must be at least 50%.

      0

      What are your thoughts?

      Posted 04 Jul 2022

      Purchased

      BRDGE P2P Lending

      [Debt Recovery] Extremely horrendous and pretty high default rate. Might be better off investing on stocks as you can get back some of your principal money rather than close to none in this platform when defaulted.

      0

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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.