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> P2P Crowdfunding, A place to talk about crowdfunding

#Victor
post Oct 12 2017, 12:27 PM

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Hi sifus, want to ask normally how long does it takes for account opening in Funding Societies? I am still stuck in the 3rd step, what can I do make the process faster?

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Carl Johnson
post Oct 12 2017, 11:14 PM

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QUOTE(#Victor @ Oct 12 2017, 12:27 PM)
Hi sifus, want to ask normally how long does it takes for account opening in Funding Societies? I am still stuck in the 3rd step, what can I do make the process faster?

user posted image
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Just sign and send them both hard and soft copy...it is super fast .....2 days for me
2387581
post Oct 13 2017, 01:46 AM

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QUOTE(#Victor @ Oct 12 2017, 12:27 PM)
Hi sifus, want to ask normally how long does it takes for account opening in Funding Societies? I am still stuck in the 3rd step, what can I do make the process faster?

user posted image
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Have you sent the stuff? I think mine I waited for about a week, but of course I didn't check daily. Keep calm and wait lol, only a few days. For me, it does not matter because I don't have the money even though there are new notes coming up every other day.
#Victor
post Oct 13 2017, 10:29 AM

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QUOTE(2387581 @ Oct 13 2017, 01:46 AM)
Have you sent the stuff? I think mine I waited for about a week, but of course I didn't check daily. Keep calm and wait lol, only a few days. For me, it does not matter because I don't have the money even though there are new notes coming up every other day.
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Just passed the signed SA this morning to my friend and he handed it over FS office since he working in the same building tongue.gif
Do I need to email them or will they send acknowledge email?

This post has been edited by #Victor: Oct 13 2017, 10:30 AM
2387581
post Oct 13 2017, 10:42 AM

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QUOTE(#Victor @ Oct 13 2017, 10:29 AM)
Just passed the signed SA this morning to my friend and he handed it over FS office since he working in the same building tongue.gif
Do I need to email them or will they send acknowledge email?
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I scanned and email them first before post them, and by the end of the day they activated it for me.
#Victor
post Oct 13 2017, 10:48 AM

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QUOTE(2387581 @ Oct 13 2017, 10:42 AM)
I scanned and email them first before post them, and by the end of the day they activated it for me.
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Hmm.. don't have scanner but already sent it to their office, maybe I will fill in my signature in the pdf and email them. Do u attach ur copy of NRIC as requested in Annex I?

Added on
Btw, which email do u reply ur scanned copy of the agreement? It is info@fundingsocieties.com.my?

This post has been edited by #Victor: Oct 13 2017, 10:50 AM
2387581
post Oct 13 2017, 10:55 AM

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QUOTE(#Victor @ Oct 13 2017, 10:48 AM)
Hmm.. don't have scanner but already sent it to their office, maybe I will fill in my signature in the pdf and email them. Do u attach ur copy of NRIC as requested in Annex I?

Added on
Btw, which email do u reply ur scanned copy of the agreement? It is info@fundingsocieties.com.my?
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If I remembered correctly the IC was uploaded when I was registered on their website, so I only sent the form. I just replied within the email which they sent the empty form to me.
#Victor
post Oct 13 2017, 10:57 AM

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QUOTE(2387581 @ Oct 13 2017, 10:55 AM)
If I remembered correctly the IC was uploaded when I was registered on their website, so I only sent the form. I just replied within the email which they sent the empty form to me.
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Yup, when first register online they request for photo of IC so I didn't attach copy of IC again when submit the hard copy.
strawsticks
post Oct 15 2017, 04:53 PM

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With such high interest rates these platforms are charging, why don't the issuers go to Banks instead? Could it be they have been rejected by the Banks then only come to P2P platforms to look for funds?
vamsi7
post Oct 16 2017, 10:47 AM

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QUOTE(strawsticks @ Oct 15 2017, 04:53 PM)
With such high interest rates these platforms are charging, why don't the issuers go to Banks instead? Could it be they have been rejected by the Banks then only come to P2P platforms to look for funds?
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There are a lot of reasons why sme's chose to go with p2p financing firms for loans. They have quick disbursals and an overall smooth application process. And also, banks typically don't do smaller quantum and shorter tenure loans where as p2p firms cater to those.
elea88
post Oct 16 2017, 11:35 AM

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Invoice Financing: MBIF-17100004

Industry : Wholesale Trade
Funding amount : RM 400,000
Tenor : 4 month
Simple interest rate p.a. : 12% p.a.
Repayment : Single repayment upon maturity
Minimum investment amount : RM 100
Date / Time Crowdfunding : 16/10/17, 4pm
Service fee : 15% on interest amount


New investment. Wah.. this one pay back in 4 months.. everything...
#Victor
post Oct 16 2017, 12:34 PM

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Business Term Financing: MBBT-17100014

Industry : Wholesale Trade
Funding amount : RM 1,000,000
Tenor : 1 month
Simple interest rate p.a. : 10.8% p.a.
Effective interest rate p.a. : 10.8% p.a.
Minimum investment amount : RM 100
Date / Time Crowdfunding : 16/10/17, 4pm
Service fee : 15% on interest amount


ronho
post Oct 16 2017, 12:36 PM

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deleted

This post has been edited by ronho: Oct 16 2017, 12:37 PM
wizardofoz
post Oct 16 2017, 04:09 PM

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The SME default rate for Funding Socieities is 1.6% as stated on their website. Does anybody know the SME default rate for Fundaztic?
frankliew
post Oct 16 2017, 07:25 PM

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FINISHED

QUOTE(elea88 @ Oct 16 2017, 11:35 AM)
Invoice Financing: MBIF-17100004

Industry    :  Wholesale Trade
Funding amount  :  RM 400,000
Tenor  :  4 month
Simple interest rate p.a.  :  12% p.a.
Repayment  :  Single repayment upon maturity
Minimum investment amount  :  RM 100
Date / Time Crowdfunding  :  16/10/17, 4pm
Service fee    :  15% on interest amount
New investment. Wah.. this one pay back in 4 months.. everything...
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Azurika
post Yesterday, 04:31 PM

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Invested in both, lol .... 4pm sharp masuk haha.



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