Funding Societies, Author at Funding Societies @ DollarsAndSense

Everyone dreams of finding a job they love. Like many other undergraduates, I spent several summer breaks in various internships, letting each experience guide me in discovery of my passion. This phase of gaining work experience helped me develop particular interests in two areas – Enterprise development and Financial Services. That was why I was exhilarated when I came across Funding Societies’ internship advertisement through NUS career centre newsletter. It was described as aFinTech platform which aims to help SMEs grow through Peer-to-Peer (P2P) crowdlending.

At that moment, I had no idea what P2P meant, or what exactly ‘FinTech’ was all about. However, I was intrigued enough to want to delve deeper.

My encounter with Funding Societies has been extraordinary from the very beginning. The interviewer and I had an equal share of time to introduce ourselves. Unlike other interviews where candidates are selected by the hiring manager unilaterally, the balanced two-way communication gave me opportunities to discern whether we would be great fit for each other.

I learned that I was being offered to join Funding Societies as the first ever intern! The past 3 months with Funding Societies have been full of magical moments and learning experiences. Here are some of my greatest takeaways

All initiatives are encouraged, even the crazy ones

At Funding Societies, I am given as much autonomy as everyone else in the company although I am ‘just’ an intern. I am constantly encouraged to input my opinions, feedback and suggestions. While discussing about improving productivity, someone casually proposed moving our weekly sharing sessions from Monday morning to Friday just because – Monday Blues, and it actually happened! Such open culture allows me to become more and more comfortable in speaking up. I find this an enjoyable process because even the most ridiculous-sounding ideas are taken seriously and discussed thoroughly before deciding whether to be implemented (Stay tuned to learn more as we roll these out!). Having the power of choosing what I want to work on also means work is never boring!

Challenge yourself constantly

I got to be part of the competitive and fast-paced start-up scene. New competition emerges every other day and the only way to thrive is to move faster than anyone else. Allocating the limited resources with most efficiency is critical. Freedom and autonomy come with a strong dose of responsibility, and this period has been a test of my discipline in time management. I am constantly challenged to reach my maximum potential. I have always believed that a fulfilling career isn’t a destination but a journey. Hence, it’s important to grow together with the company, and Funding Societies is giving me this remarkable experience.

Your work matters – a lot

At Funding Societies, any work done on each day serves an immediate purpose. I was involved in meaningful projects that are crucial to the company and saw it through from planning to implementation. No words can describe the sense of pride and achievement of seeing my work published on the website for the first time. I enjoy interacting with our clients through our chat feature on the website because I know our conversations have a direct impact on their actions, and often results in Funding Societies gaining new borrowers or investors. I am inspired to take ownership of my work and continuously strive towards providing the best experience to all Funding Societies’ clients.

Supportive team makes all the difference between good and great

Being surrounded by people who share the same goal and passion really brings about an amplified effect in productivity. I was pleasantly surprised to learn that all my colleagues, including the founders, would be willing to find time to respond to my queries no matter how busy they were. I was able to receive quick advice and feedback from managers with ample experiences and they have been of great help to me in getting my job done. If I am ever asked what I love most about Funding Societies, I will not hesitate in answering – ‘complete absence of office politics!’ I appreciate having the well-bonded team where difference of opinion can be resolved through a healthy discussion because I have seen in my previous workplaces how detrimental office politics are to work productivity and motivation. Here at FS, we are aligned in many ways to achieve progress and help one another grow.

Earn solid returns on my investment

‘Skin-in-the-game’ philosophy is widely practiced at Funding Societies. This resonates with my personal beliefs the most. I know what I am working on has a positive impact on society and I am proud to be part of the solution. As such, I have started investing in our platform alongside other investors. I have been enjoying good returns so far and an exciting experience because I know that it means the funded SME is growing well enough to repay as well as investors’ money is deployed into efforts that not only result in stable returns, but make a difference in Singapore’s economy as well.

All in all, interning at Funding Societies for the past 12 weeks has been stimulating and satisfying, and the steep learning curve has enabled me to grow significantly as a motivated individual.

Shin Yiseul
NUS Year 4
Economics Major

Article by Damon Wong

Dear investor,

Imagine you have some savings, so you’re looking to grow the money with a profitable business idea… But you don’t want to place your hard-earned money at risk by investing in the wrong things.

I know of an investment vehicle that is generating a double digit percentage growth for its investors… The best part?

The investor chooses how much and how long to invest in. And then it’s hands off until the time to pick up the check.

If you’re keen on making returns of 13%, riding on the wave of promising Singaporean businesses on their way up…

That’s where Funding Societies comes in.

They open doors to a selection of companies worthy of your investment. In fact, the performance of these companies is backed by research so you don’t have to do the heavy lifting…

As you read on, you will find out what Funding Societies is and how you can possibly achieve returns of 13-14% by investing with them.

1) What is Funding Societies?

Funding Societies is a peer-to-peer lending platform for retail investors like you and me to fund local businesses’ growth.

What’s unique about peer-to-peer lending, you may ask?

The main reason peer-to-peer lending is attractive to many… is the fact that it opens up investment opportunities to people like you and me.

It gives you access to investing in companies previously unavailable to the people – Companies (with huge growth and profit potential) that you’ll never have the chance to invest in… if not for the benefit that peer-to-peer lending provides you with.

And if you wish to invest in promising businesses that even expert investors are dying to get their hands on, getting a return of 13% on the investment while doing so… Then you must read on for how it may turn out to be the most feasible investment decision you make this year.

When investing, you want to keep risk at a manageable level. You want flexibility in the lock-down period that’s less than other instruments… So that when you plan for your expenses, you can look forward to seeing your money come back sooner.

As soon as 3 months should you wish.

Whether you’re looking to diversify a sizeable fund, or if you’re a retail investor with little ability to commit… you’re going to need different vehicles for your investment objectives.

Funding Societies enables investors like yourself to find the investment vehicle that matches your budget you set aside for growth.

Your investment in SMEs strengthen the backbone of our society. SMEs that make up 99% of all companies, SMEs that contribute up to 70% of the economy. By helping move the SMEs, you help move the economy…

2) Who Should Invest With Funding Societies?

a) Investors looking to diversify existing portfolio between short and mid term so they have the flexibility to get their money back whenever they choose;

b) Investors with limited funds but want to know exactly when the investment will mature, and how much to put in so they are always in control where their money goes;

c) Investors looking to make 13% returns on investment with a solid contingency plan in the event of defaulting payment, so they can sleep in peace at night;

d) Investors that support SMEs leading the culture of innovation, job creation, adding value to society, and at the same time growing their wealth with it.

3) How Safe Are My Investments With Funding Societies?

Funding Societies are offering a return of 13% on your investment. Regardless of how much you put in, you are in control of the exit period… Right from the start.

In fact, when you put your money down, an Escrow account managed by MAS registered Trust Agency holds on to it. What this means is that your money is in safe hands.

You can be currently invested in stocks, real estate, bonds… But Funding Societies provides you with an instrument that requires less lock-down time than any of the above, and is more stable than stocks. It lets you diversify your portfolio with better control over your risk and commitment.

Unlike some investments that require you to meet the broker at way-too-early o’clock to sign mountains of paperwork, Funding Societies makes it easier to grow your money by handling your transactions online. You can still do it in person should you wish, but the convenience of an online system is there.

You benefit from being an informed investor. Funding Society prepares and gathers both hard and soft data about the companies before you make an investment – a more comprehensive set of parameters than what banks do.

4) But What Are The Risks Involved?

You’re lending money to fund SME growth in Singapore. Behind every single company is a great mind and soul driven to make the business work.

Take it from our research done in interviewing owners.

With owners themselves being guarantors, they hold themselves and their businesses to high standards of accountability for you to invest confidently.

What this means is that when the companies you invest in close down, the owners have to pay you from their own pocket.

In the unlikely event of the SME defaulting, a collection agency steps in to recover the amount, giving you the right to pursue the matter legally.

This is the same collection agency that major banks in Singapore are using… Banks that have ATMs where probably withdrew your cash from earlier today. If they entrust this collection agency, you know you are in good hands to invest with confidence.

5) When Is A Good Time To Invest?

You heard of the saying that waiting for the best time to do something means never? But savvy investors recognize a good deal when they see one. Investors who make their investment before 31st Oct get their transaction fee waived.

Let me illustrate what is at stake here if you sat through this without doing anything.

Service fees are normally at 1%. For a $10000 investment, at 13% returns… That should put $1300 back in your pocket… But after service fee, that brings your earnings down to $1187.

You now have a chance for taking action, and for taking that action you now get to keep all of the earnings.

Back to $1300 of pure profit. The service fee is waived for your investment.

When SMEs that show great potential are identified, by 10000 other people reading this at the same time, some will be ready to take action…. You will want to secure the good companies to invest in before they get their funding and is no longer accepting anymore.

6) What Are Disadvantages To Investing With Funding Societies?

The disadvantage of investing with Funding Societies is that if you are currently holding on to a portfolio that’s giving you 25% returns from the stock market… Then this will not be beneficial for you at all.

Investing with Funding Societies currently offers returns of up to 13%… With a time period you can choose, and how much to invest that’s comfortable for your appetite.

So, if you find that you don’t want to take on huge risks when investing, and achieving returns of up to 13-14% sound reasonable to you…