What are the types of loans you offer?
MoolahSense provides businesses with the opportunity to get working capital through the following:
a) Business Loans
There are two types of business loans, secured and unsecured. All secured business loans are secured by a collateral. As a mandatory requirement, the financial value of the pledged collateral must be greater than the total loan amount that the business wishes to obtain.
For unsecured business loans, it is not pledged against any physical collateral. While not technically a collateral, directors of the Business are required to provide personal guarantees on their loan.
b) Invoice Financing
A Business can get access to timely working capital by submitting a tax invoice to provide an indication that the SME is likely to receive an inflow of cash (i.e. the payment from the SME’s customer) on the payment date of the invoice, which will in turn provide cash for the SME to repay a loan. SMEs can raise up to 80% of the invoice value. The principal and interest will be repaid to Investors on the maturity date of the invoice financing period.
Can I accept the offer before it is fully funded?
Yes, but at least 70% of the requested amount must be funded by Eligible Offers, subject to a minimum of S$100,000. For business loans, you may accept the offer if it is at least S$50,000 funded by eligible offers. For tax invoices which has a face ...
What are the types of note structure?
The types of Note Structure are as shown below: The business needs presented above are intended for illustration purposes and may not be exhaustive.
What is the loan tenure for all your financing products?
For secured and unsecured Business Loans, the loan tenor ranges from 3 to 24 months. For Invoice Financing, the loan tenor is between 15 to 90 days.
What is the contractual agreement between Investors and the Business?
When an Issuer (SME) accepts an offer, a provisional contract is formed between the business and each allocated investor. Both the Issuer (SME) and Investors are bound by the terms of the contract note executed in this manner, having endorsed the ...
When will my repayment begin?
For Business Loans, the commencement of your repayment is dependent on the type of note structure selected prior to listing. The repayment schedule can be found on the contract note and on the Issuer Dashboard. For financed invoices, you will have ...