Dear Friends of Lendingpot,
Since our launch in early 2018, Lendingpot has transformed the way small business owners obtain financing in Singapore with our free digital platform.
After supporting the financing application of over 1,500 SMEs, Lendingpot’s reach and impact on SMEs in Singapore have reached an important milestone.
To continue to grow sustainably and introduce new and innovative products for those we serve, Lendingpot will commence the first phase of its monetization plans.
Our key monetization strategy is to charge a fee to the financial institution for any successful referrals. As much as possible, this fee will be:
Making an application on our platform will continue to remain absolutely free.
We are committed to provide advice, consolidate information and help SME business owners connect to multiple financial institutions on our platform, making their financing experience cheaper, better and faster.
We believe this will allow Lendingpot to stay true to its roots of giving unbiased referrals, providing clarity to business owners and preventing the unreasonable transfer of high referral costs from financial institutions to borrowers.
We will introduce the referral fee for financial institutions that are new to the platform. For existing relationship managers and financial institutions already enrolled in our network, please continue to use the platform normally for now. We will address you at the right time.
We hope that we can continue to count on your support in our mission to create a better business financing ecosystem in Singapore.
Yours Sincerely,
Eric Koh
Chief Operating Officer
22 June 2020
Lendingpot is Singapore's leading digital loan marketplace with a diverse network of 45 lenders to match your business funding needs.
