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(Please note that these examples are solely for illustration purposes. They are by no means a representation or indication of the likely rates.)

Business

Assume a bakery requests for a 1-year funding of S$100,000 to open a second outlet and specifies their target rate to be 8%p.a. (target rate = the maximum rate that they are willing to pay)

Outcome:

The request is 100% funded with eligible offers (offers submitted at or below the target rate by prospective investors) and 7.5% p.a. is the assigned rate per the selection model (aggregating the offers from the lowest rate bottom up), the requested amount of S$100,000 will be disbursed upon acceptance by the bakery with a rate that is better off than their specified target rate.

To illustrate with numbers:

MoolahSense fees = S$3,000 [3%p.a. of S$100,000 for 1 year]

After deducting the administrative fees above, the Business will receive S$97,000 at their bank account.

The monthly repayment is calculated based on the note amount of S$100,000.

Monthly repayment = S$8,675.74

Total interest payable = S$4,108.90

Effective interest rate = 14.1%p.a.

Repayment Table - Issuer

 

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(Please note that these examples are solely for illustration purposes. They are by no means a representation or indication of the likely rates.)

Investor

Assume an investor offers to lend S$3,000 at rate of 8.50%p.a. over 1 year and let’s say the final allocated rate is 8.80%p.a. after acceptance of eligible offers by the Business, the investor will be earning returns at 8.80% p.a., a higher rate than was offered.

To illustrate with numbers:

Monthly repayment due: S$262.08

Total interests earned over 1 year: S$144.92

Nominal interest rate = 8.80%p.a.

Repayment Table - Investor

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