One thing to take note when using Funding Societies's p2p platform to borrow is to look at the number of borrowings that borrower has. Avoid doing multiple lendings to the same borrower as it exposes you to a single borrower risk. If the borrower defaults, all the loans under the borrower will most likely also default.
P2P companies in Malaysia are required to declared all existing borrowings the borrower has under their platform.
Some people might not have the same opinion with me, saying a borrower with many loans who has a good payment track record is better than a borrower with 1 loan. with no track record.
Here's an example of a borrower with many borrowings from Funding Societies.
1) Issuer has been approved with credit line limit of RM3.5M.
2) The existing exposure with us :
a) MBIF-19030009 at RM392,080.00 outstanding (due on 10/07/19, option to early settlement)
b) MBIF-19040005 at RM124,800.00 outstanding (due on 02/08/19, option to early settlement)
c) MBIF-19040018 at RM338,000.00 outstanding (due on 13/08/19, option to early settlement)
d) MBIF-19040022 at RM162,240.00 outstanding (due on 15/08/19, option to early settlement)
e) MBIF-19050001 at RM75,765.78 outstanding (due on 30/08/19, option to early settlement)
f) MBIF-19050020 at RM161,200.00 outstanding (due on 13/09/19, option to early settlement)
g) MBIF-19050028 at RM96,720.00 outstanding (due on 24/09/19, option to early settlement)
h) MBIF-19060004 at RM119,600.00 outstanding (due on 07/10/19, option to early settlement)
i) MBIF-19060005 at RM206,960.00 outstanding (due on 10/10/19, option to early settlement)
j) MBIF-19060016 at RM209,040.00 outstanding (due on 17/10/19, option to early settlement)
k) MBIF-19060022 at RM258,960.00 outstanding (due on 22/10/19, option to early settlement)
l) MBIF-19060031 at RM78,000.00 outstanding (due on 28/10/19, option to early settlement)
m) MBIF-19070004 at RM132,080.00 outstanding (due on 01/11/19, option to early settlement)
3) Total exposure inclusive of new CF will be RM2,562,455.78