Author Topic: Peer to Peer Lending  (Read 10816 times)

Tea97

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Peer to Peer Lending
« on: May 17, 2017, 07:39:03 am »
Tanong ko lang sana if anyone has any experience with Peer to Peer (P2P) lending platforms sa Pinas yet? The likes of loansolutions.ph, fundko.com. Bale matching of lender and creditors yun. I was trying to get more info from loansolutions (as lender) pero for some reason I couldn't submit my query to their website. What are the rates (ROI) and fees as lender? Any time period na dapat nakatali sa kanila yun funds? Thanks!

To the admin, if this is already in an existing thread - kindly merge to the old one.

jmeangeL

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Re: Peer to Peer Lending
« Reply #1 on: May 18, 2017, 02:27:05 pm »
Sis, I tried FundKO and mukhang mas madaling mag-invest with them compared to loansolutions.
I deposited my investment and sent a copy of the deposit slip to FundKO.  Less than an hour, reflected na ang fund sa wallet ko.

FundKo allows you to fund small amounts to different people's loan application.  May nakapublished na monthly rate for each loan application based the qualification nung borrower at kung secured ba or unsecured.  Much like the credit rating score that US uses for borrowing.

Here's to hoping that it's a good investment.  ;)
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yn061515

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Re: Peer to Peer Lending
« Reply #2 on: May 18, 2017, 02:42:56 pm »
following this thread cause I'm interested to know more about  Peer to Peer (P2P) lending platforms.

Itsmai.Shop

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Re: Peer to Peer Lending
« Reply #3 on: May 18, 2017, 03:51:09 pm »
read about fundko and registered as well, one thing I can say is too small yung returns

yn061515

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Re: Peer to Peer Lending
« Reply #4 on: May 18, 2017, 05:29:06 pm »
How small? smaller than kung ikeep sa bank yung money?
And is there minimum required investment?

shinies

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Re: Peer to Peer Lending
« Reply #5 on: May 18, 2017, 06:27:47 pm »
Interasado ako pero parang high risk ito at hindi match kung low return :-\

Itsmai.Shop

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Re: Peer to Peer Lending
« Reply #6 on: May 19, 2017, 05:57:22 pm »
nakalagay naman dun how much interest you will earn parang pinaka mataas kong nakita is 1.1%

jmeangeL

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Re: Peer to Peer Lending
« Reply #7 on: May 22, 2017, 09:08:51 am »
Sa pagkaka-intindi ko ay 1.1% per month.  Kung tama na 1.1% per month, malaki ito per annum, about 14.03% per annum or almost 7% for the 6months duration ng loan.

Sana rin ay maganda ang collection.  If they disburse the payment to the lenders account per month, then the lender can roll it over to another loan. 1K lang kasi ang pwede mo i-invest sa mga short-term loans of 10K.

Yung compounding nun ang magiging malaki.

15K ang starting investment fund nila.  For example, you invest 10K on 10 different loans for 1K each.  Yun lang kasi ang maximum investment kung ang hinihiram ng borrower ay 10K.

Kung maganda ang collection, on the 1st cycle of collection, may 1K ka ulit consisting of the principal and the interest of the 10K investment.

Either roll it over to another loan, or garnish to protect your principal.

In time, that rolling over would be huge.  High risk lang talaga since unsecured loan ito.  But the good thing is, you're spreading the risk.

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yn061515

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Re: Peer to Peer Lending
« Reply #8 on: May 22, 2017, 03:14:05 pm »
^ thank you for the explanation. Na-gets 'ko sya ng maayos.
Have you invested na ba? Ok naman ba so far?

scruffs

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Re: Peer to Peer Lending
« Reply #9 on: May 22, 2017, 04:27:12 pm »
I'm interested with this. Sana marami pa magshare ng experiences nila with this kind of platform. Thanks mga sis!

Tea97

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Re: Peer to Peer Lending
« Reply #10 on: May 22, 2017, 05:51:29 pm »
Pinag aaralan ko pa. Masaya na ako sa 12% per annum, to be honest -- kasi ayoko rin naman mala-usurious rates na utang (parang 5/6) - kawawa naman yun lender lalo na kung OFW na nag sisimula pa lang. We funded our migration with a personal loan from a bank din kasi. Kaya malapit sa puso ko yun mga nag sisimulang OFW.

May iba pa bang fees na babayaran? Like may charges ba yun platform? Meron pang isa - btcjam.com -- global lending naman.

jmeangeL

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Re: Peer to Peer Lending
« Reply #11 on: May 23, 2017, 09:37:20 am »
@yn061515
Kasisimula pa lang, less than a week. Kaya wala pa ako ma-share kung gaano ka-ayos ang collection ng FundKO.  They did partner up with a renowed NGO, that helps micro-business connect with lenders to fund their business.  I guess, that is good considering that people with small stalls really just want to maintain their business or expand them.

Tea97
Yung initial deposit ko na 15K ay ganun din ang amount na reflected sa aking wallet fund.  So, walang front fees.
I'm assuming that their fees is on the interest rates that they give to the borrower.  I assume na ang 1.1% na published nila sa platform ay for us lenders, but they probably have a higher rate sa actual na nautang.
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yn061515

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Re: Peer to Peer Lending
« Reply #12 on: May 23, 2017, 02:12:36 pm »
thank you jmeangeL, now i'm really interested na.
 
and thank you Tea97 for that, i am an ofw myself and have had to get loans when were still starting. Laking bagay lang na may mga nagtitiwala like you.

jmeangeL

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Re: Peer to Peer Lending
« Reply #13 on: May 31, 2017, 03:49:05 pm »
Update lang po sa aking FundKO.

May 18 - Funded my account
May 18 - Selected 6 loans to fund, for 1k each
May 25 - Selected 2 loans to fund, for 1k each
May 26 - Selected 2 loans to fund, for 1k each

Hanggang ngayon, I'm still seeing the funded loans as funded lang.  Dunno kung na-disburse na ba ito sa mga borrower.  Out of 10 loans, 9 have already completed the funding cycle.

Sabi ng CS nila, it takes between 5 to 7 banking days to write the check and for the borrower to come in, collect their check and sign the contract.

Sana mas mabilis ng konti.  Naiinip ako ehh...  ;)
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yn061515

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Re: Peer to Peer Lending
« Reply #14 on: May 31, 2017, 04:12:11 pm »
^ keep updating us ha sis, lalo pag nag-eearn na. thank you!

scruffs

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Re: Peer to Peer Lending
« Reply #15 on: June 01, 2017, 09:57:59 am »
Yes sis jmeangeL, paupdate nalang kami.

mxherr5

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Re: Peer to Peer Lending
« Reply #16 on: June 05, 2017, 05:31:55 pm »
My brother invested with FundKo. So far he has one loan in "default" i.e. one missed payment but according to FundKo's website they only consider a borrower in default after 3 consecutive missed payments.

scruffs

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Re: Peer to Peer Lending
« Reply #17 on: June 06, 2017, 08:30:19 am »
^ Sis what will happen kapag tuluyang nagdefault yung borrower? Loss agad ni Lender?

jmeangeL

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Re: Peer to Peer Lending
« Reply #18 on: June 06, 2017, 08:50:22 am »
^---Sabi nila that they would exhaust all options to collect.  And when they did, it would be distributed back to the lender.  But yeah, kuwidaw.

High risk, high returns game itong P2P na ito.
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FayeP

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Re: Peer to Peer Lending
« Reply #19 on: June 25, 2017, 07:43:58 am »
interesting to, sis jmeangel ano na nangyari sa investment mo?
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