For a while now I’ve known that places like the US and UK has been having quite a strong and vibrant P2P lending scene.
Essential, it’s about making private loans and earning an interest on it. Needless to say, this is very risky.
Singapore has it’s own version and it is called MoolahSense.
They are currently running a campaign to raise money for a media and design school planning to expand its operations. And no, I did not get paid at all to talk about them. I just think that this is a very cool idea. Even MAS thinks so. They are taking comments from the public so that they can come up with a proper policy stance for this.
With this campaign, creditors can look to gain up to 12% of interest with a 1 year loan, or lower if there is a high demand. A high demand means …