There is so much pent up demand to invest cash, even when if the opportunities are basically short-term junk bonds. Each time Moolahsense launches a peer-to-peer loan campaign at 2.30 pm on a “First Come, First Served” basis, the loans are fully subscribed within a minute.
My goodness, it has become a case of fastest finger wins! A short pop by the toilet and I missed that window. What the shit, literally. Want to lend money also difficult. Why do they launch these campaigns at 2.30 pm anyway?
What surprises me is that most recent campaigns have been in this format while offering a high of 18% interest. “Huat ah!”
I wonder why the companies do not seek the “auction” format where the interest is likely to be lowered due to competitive offers by lenders? Is this a sign of the extent of desperation for quick cash …