Straits Times Money: “Crowd-funding platform MoolahSense attracts $207,000 for Smaths Consulting”
SMEs in Singapore often find it difficult to obtain local bank loans. This is because they are often unable to fulfill requirements stated, such as a 3 year credit record, insufficient company collateral etc. However, Smaths, an education hub, was able to overcome these funding roadblocks by using MoolahSense.
“Moolahsense was able to match 19 investors who offered the lowest interest rates to Smaths, which agreed to pay 9.9% a year for the $100,000 requested.” – The Straits Times, Money Section (17 December, 2014).
Smaths was looking to expand their business by opening a new outlet in Singapore. Shortly after approaching MoolahSense, the Ian Gan, CEO of Smaths was able to move forth by achieving the target of $100,000 worth of funding. Spearheaded by industry experts, MoolahSense was able to provide professional advice to Smaths and also, to garner 44 unique investors to support the event, resulting in a 207% oversubscription for the campaign.
“Moolahsense will introduce incentives for businesses in nine sectors in the first quarter of next year, including food and beverage and infocomm technology.” – The Straits Times, Money Section (17 December, 2014).
Moolahsense has expressed interest and commitment to helping local SMEs in Singapore. As part of the promotional campaign, MoolahSense will be waiving off administrative fees for local SMEs that achieve 1) Most number of uniques investors, 2) Most oversubscribed, 3) Most improved rate.
If interested, please head down to www.moolahsense.com to see how we work and contact us if you wish to be part of an exciting crowdfunding experience!