MoolahSense

MoolahSense

1.7
(11)
Write Review
Ask Question

Ratings Breakdown (11)

1.7
  • 5
    0
  • 4
    1
  • 3
    2
  • 2
    1
  • 1
    7
OperationsLoan agreements in place
MethodologyBusiness term loan and Invoice financing
Fees1% on repayment
Minimum$500 per campaign (initial deposit $1,000)
Default Rate3.48%
More about MoolahSense
Reviews (11)
Q&A (1)
Sort by:
Most Recent
  • Most Recent
  • Most Upvote
  • Lowest to Highest
  • Highest to Lowest
  • Choon Yuan Chan
    Choon Yuan Chan
    23 Reviews, 109 Upvotes
    Updated on 17 Feb 2018
    Been using since 2015, The company, description of the loan's and company's financials are detailed. Out of the 11 I have invested, I have experienced 3 defaults. When it comes to defaults, the frequency of the updates is not regular and the resolution of it not very fast. Till now the 3 defaults, are still in default with no final outcome. In my opinion, the current batches of loans seems to have a higher chance of default (2 of my defaults were from loans which were issued in 2017. Prior to that, I feel Moolahsense's "credit writing" of loans in 2015 and 2016 were much better. Perhaps MS has to do more QC of its P2P loans- less quantity of P2P loan but of higher quality?
    Comments (2)
    4
    0
    Share this
  • Teo Liang Wei
    Teo Liang Wei
    2 Reviews, 6 Upvotes
    Reviewed on 18 Sep 2018
    Probably stuffed with analysts with just psle cert... ought to improve on how they do their due diligence
    Comments (0)
    3
    0
    Share this
  • Abhilash Narayan
    Abhilash Narayan
    1 Reviews, 2 Upvotes
    Reviewed on 25 Aug 2018
    I invested in nearly 50 loans in MoolahSense. Till date, nearly 25% of the loans have been classified as a loss or are late in payments. I think I would be fortunate to even get my principal back...forget about returns. I am disappointed by the follow-up from Moolahsense and the high legal cost which has to be borne by investors. In one instance, the legal cost for action against defaulter of a 100k loan was 8k, with no guarantee of any recovery. What is surprising is that I had a few cases where loan issuers who had reported hundreds of thousands of dollars of yearly profits, started missing payments and ultimately defaulted within a few months. I am not sure whether MoolahSense should have done more due-diligence to reduce this from happening. Invest with extreme caution.
    Comments (0)
    2
    0
    Share this
  • Rajesh Ranganathan
    Rajesh Ranganathan
    2 Reviews, 4 Upvotes
    Reviewed on 29 Jun 2018
    atleast 25% of the loans i have funded are either in payment delayed or stressed status for quite sometime now , there is no significant updates around the recovery and not sure if they will be defaulted soon !, pls exercise utmost caution investing through this portal , invest only minimum amount and dont be taken away by campaigns with high interest.
    Comments (3)
    3
    0
    Share this
  • Mac Ng
    Mac Ng
    1 Reviews, 1 Upvotes
    Reviewed on 17 Jun 2018
    I have invested in 35 loans since April 2017. (5 Successful repayment, 19 is currently paying, 1 defaulted (company went bankrupted), 10 delinquent) This means that there is a delinquency rate of 31.4% for my case presently. I may potentially see red. Please exercise caution when investing through this platform. All the best!
    Comments (0)
    1
    0
    Share this
  • Wong Hong Wei
    Wong Hong Wei
    1 Reviews, 3 Upvotes
    Reviewed on 19 Apr 2018
    Default rates seem to be way understated. Invested in 60 loans since Sep 2017. Am only halfway through the loans but 11 are already at least 45 days past due. Looks like Moolahsense needs to brush up on the credit due diligence. Am pulling out as I am expecting to make losses at this rate.
    Comments (2)
    3
    0
    Share this
  • Gabriel Tham
    Gabriel Tham
    16 Reviews, 650 Upvotes
    Updated on 11 Jan 2018
    Been using since 2016 Pros: - Has auto investing feature - Company and loan details are very detailed - Low minimum required, $100 - Loans come in many flavours, such as callable, monthly equal installments, bullet etc Cons: - Not as user friendly as other platforms. Might be daunting to new P2P investors. - Many types of loans and interest payments schedules, requires a learning curve for newbies. - Few cases of defaults, and the update frequency is not as regular
    Comments (0)
    4
    0
    Share this
  • Jan
    Jan
    6 Reviews, 9 Upvotes
    Updated on 16 Jan 2018
    Using since 2016, but more recently since they reduced the minimum investment to $100. They have auto invest but given that most loans take a while to be fully subscribed, it is not very necessary as a feature right now. Easy to invest. Mostly business loan of 6 to 24 months duration. They have recently stated to charge lenders a fee for arranging the loan. 2fa code required for login.
    Comments (0)
    2
    0
    Share this
  • YP Ong
    YP Ong
    1 Reviews, 5 Upvotes
    Updated on 17 Feb 2018
    I invested in 14 loans progressively since end 2016. The payments were on time in the beginning. But soon, late payments started and to date, I have 6 loans under late payment with 2 of the companies under bankruptcy proceedings. That's a 42% default rate! I even have one loan which had delayed payment from the beginning. Pls do your due diligence before investing with Moolahsense and take their credit rating with a pinch of salt.
    Comments (0)
    4
    0
    Share this
  • Yu En
    Yu En
    2 Reviews, 10 Upvotes
    Updated on 22 Feb 2018
    Invested $3k into 3 diff companies via moolahsense. One of them defaulted after only a couple of payments. They have been chasing the the company for over a year but to no avail. Will not invest via this platform anymore. Pls beware.
    Comments (0)
    4
    0
    Share this
See more reviews

Write a review

About MoolahSense

MoolahSense started in year 2014 by Ex Vice President of Macquarie Capital, Lawrence Yong.

Types of loans by MoolahSense

MoolahSense gives out loans in form of Business Term Loans and Invoice Financing.

Risk Management for MoolahSense

MoolahSense access lenders based on the nature and outlook of the industry they operate in, the strength of their financials and overall business model as well as the background and character of its Directors.

Funds for MoolahSense are held separately with OCBC.

Minimum investment and fees for MoolahSense

The minimum investment for Funding Societies is at S$1,000. The minimum investment for each campaign is S$100.

Manage your money for free today!

Download on the App StoreGet it on Google Play
  • Quick overview
    Quick overview of your bank and card transactions.
  • Secure syncing
    Secure syncing of your bank or credit cards transactions
  • Automatic categorization
    Automatic categorization and analysis for your expenses
Seedly app