What happens when an SME does not honour its loan repayment obligation?

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• Will I be compensated for an Issuer (SME) who did not fulfill their repayment obligation?

  A late payment interest of 30% p.a. (calculated on a daily rest basis) on the arrears will be payable by the Issuer (SME) to the Investors. This will start to accrue one day after the repayment due date and continue until the overdue installment ...

• When will the SME who has defaulted on their repayment obligation be brought to court?

  We will only consider taking the SME to court if our attempts to engage the SME verbally or in writing (which includes the serving of legal documents) for repayments had failed. Nevertheless, as there are fees payable to the court if we initiate ...

• How and when will MoolahSense update the late repayment progress of an Issuer (SME) to affected investors?

  Investors will receive progress updates on the via the Investors’ dashboard. Our team will engage with the late Issuers (SMEs) and encourage them to get back on track with their outstanding repayments. Through this, we are able to provide the ...

• How will late interest repayments charged to Issuer (SME) be accounted and paid for to investors?

  Whenever an Issuer (SME) makes a repayment (late), that money will go towards paying the late interests owed to the Investors first. Afterward, the remaining money will be used to clear the outstanding interests and principal amounts of the ...

• What are the processes that MoolahSense has in place to recover the late repayment from an Issuer (SME)?

  MoolahSense has a strict collection workflow to ensure delinquent Issuers pays back their overdues. Below is a chronological order of activities that will take place from T+1 (Where T is the scheduled payment date) From T+1 to T+30: Calling and ...