Capital Match Updates on Listings and Introduces New Product Type

Listing #14: First payment transferred on time

The first payment for listing #14 (travel company) has been settled on time (it is now reflected on the platform). We apologize for the slight delay – most of the time there is a delay from our bank in processing the GIRO deduction. We are working towards improving this process.

Listing #16: Changes and partially re-opened for new investors

While processing the legal documentation for listing #16 (construction company) we discovered that the company has another loan of S$1m from private lenders with an outstanding amount of S$429,000 that was not disclosed to us before. Having performed additional due diligence, we have decided that the borrower is still creditworthy and shall continue with the loan (but with an increased interest rate of 2.5% per month – from 2.2%). However, we gave an option to existing investors to opt out from the loan given changed factual situation and, as of now, 4 people decided to opt out for a total amount of S$9,000.

We have updated the loan request sheet on the platform and you can again commit funds.

We are always investigating all types of financial commitments and bank accounts that the potential borrowers might have (and in a number of cases we have uncovered information that was not disclosed to us in the first place). In this particular situation, however, the liability and the bank account holding it were not disclosed to us, nor were there any inter-bank transactions. Your capital safety is always our top priority so we will continue to remain transparent when it comes to any of such situations.

New product: “Restricted” loans

We understand that many of our users are looking for more lending opportunities. As such, we are introducing a new product type called “Restricted” loans for borrowers that may not meet some of our regular requirements. “Restricted” loans will be characterised by a slightly higher interest rate and individual lenders may only commit up to S$5,000 per loan. The business prospects for borrowers under this product line are more uncertain. “Restricted” loans will be clearly identified by a warning icon on the platform.