When can I expect payments and how is it calculated?

The payments for Business Term Financing is paid in monthly instalments. Each monthly payments amount is calculated using the following formula :

[(principal invested + simple return earned) / number of months in tenure] - *service fee

The payments shall be reflected on your available account balance once we have received the payments from the Issuer. The payments shall be distributed back to the Investor’s account within 7 days grace period of receipt of the payments from the Issuer taking into account the buffer to accommodate bank transaction delays and unforeseen circumstances at the Issuer’s end.

*Service fee varies according to the investment opportunity. This will be stated in the email we sent out to potential investors on the availability of the investment opportunity as well as in the factsheet on the investment opportunity.

The payments for Accounts Receivable Financing and Accounts Payable Financing are repaid in bullet form (ie. one-off full payment at the end of tenure) which varies from 30 days, 45 days, 60 days, or 90 days from the disbursement date. 

The bullet payments is calculated using the following formula: 

(principal invested + simple return earned) - service fee

For your information, the service fee we charge on the Issuer varies according to the investment opportunity. This will be stated in the email we sent out to potential investors on the availability of the investment opportunity as well as in the factsheet on the investment opportunity.  
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Partial Payment occur when the Issuer makes part payment of the monthly instalment or the bullet payment due for a particular month.

All Issuers are given (7) calendar days grace period to make the payments due regardless whether it is monthly installment or bullet payment. The grace period is calculated from the due date of the payment. If the issuer fails to make the full payment within seven (7) calendar days, compensation (please refer to factsheet for rate) will be incurred and calculated from the due date based on the outstanding payment amount and distributed to the investors for the delay. We also charge a late penalty fee to deter Issuer from paying any later than 7 days from the due date.

E.g. You invest RM1,000 at 12% p.a. into a 4 month financing term, due on 1st of the month but the issuer only pays on the 12th of the month, you will receive RM250 in principal, RM10 in return and RM2.75 in compensation (0.1% x 11 days x RM250)

In some cases, a business may be late with their payments. When this happens our Collections team will work closely with the Issuer to get them back on track with their payments as soon as possible.
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We always encourage issuer to pay early if they can to reduce default risk for our investors, but we do charge a modest early payment fee of 1% of remainder principal for investors to compensate the loss of the remainder return on the financing term. 

E.g. You invest RM 1,000 at 12% p.a. into a 4 month financing term. You receive RM 250 x 2 in principal and RM 10 x 2 in return for the first and second installments, but then the issuer decides to pay off the remainder of the  financing term. You will then receive your outstanding principal of RM 500 and RM 5 in early payment fees.

To know when your payments are due go to your:
Portfolio here and check under “Your Investments”.

If there is a missed payment, a payment note will be updated to inform investors the reason of missed payment. This is visible in both our mobile app and web under “View Payment Notes”.

UNPAID - payment not due yet

PAID - paid on time

PARTIAL PAID - paid partially and remainder is still due

P.E.R - paid early payment 

LATE REPAID - paid past the 7 day grace period

MISSED - payment has missed the due date and 7 day grace period