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CoAssets Business Loans Review

Take advantage of longest duration SMEs loans of any crowdfunding platforms in Singapore.

No longer offered to new customers

This product is only available to existing customers. It is no longer available to new customers. The information on this page is for existing customers and historical purposes.

CoAssets is a digital platform designed to help SMEs crowdsource financing for various needs. It offers both short and long-term financing through its range of loan products, which are working capital, invoice financing, capital expansion funds, and bridging loan.

CoAssets is also the only lender in the P2P lending market that provides the longest business loan term (3 years), as well as the option to upsize SME loans.

Compare CoAssets business loans

Name Product Interest Rate From Maximum Loan Amount Minimum Loan Term Maximum Loan Term Collateral-free
CoAssets Business Loan
5%
S$3,000,000
3 months
36 months
No
Access business financing purposes and up to 3 years tenure from this P2P lending platform.
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How does CoAssets business loans work?

CoAssets is an online crowdfunding platform specially designed to help SMEs secure financing. Whether it’s to expand your operations, pay for daily business expenses, partake a new project or tide through dry periods, CoAssests has a suite of business loan products that may be suitable for your company.

These are the types of financing you can apply for:

  • Working capital loans. For businesses with short-term financing needs, such as covering for daily operational costs or small projects.
  • Invoice financing. Helps businesses to improve cash flow by unlocking trapped funds from unpaid invoices to capitalise on new business opportunities, reinvest in operations and growth, or pay employees and suppliers. Suitable for businesses with a significant amount of accounts receivables.
  • Capital expansion loans. For SMEs looking to expand their business, a capital expansion loan comes with longer financing terms and lower interest rates compared to short-term options.
  • Bridging capital. Businesses that require fast cash flow injection to cover urgent financing needs while waiting for a longer financing deal or solution.

Here’s the process to obtain financing on CoAsset’s digital lending platform:

  1. Project submission. Fill and submit the loan application form through CoAsset’s website.
  2. Project assessment. After you’ve submitted your application, your loan request will be assessed and subject to approval.
  3. Creation and listing of funding campaign. When your project is accepted, it’ll be created and listed on CoAsset’s online funding platform. Potential investors will then be able to explore and invest in your campaign if they are keen.
  4. Cash disbursement. Once your campaign has successfully crowdfunded the requested amount, it’ll be transferred to your nominated corporate account.

    What features does CoAssets business loans offer?

    Here are some of the main features that come with CoAssets’ business financing:

    • Wide loan range. Obtain financing amounts between $100,000 to $3 million.
    • Long loan tenure. You may opt for a loan term between 3 to 36 months, which is comparatively longer loan tenure than many other P2P lending platforms in Singapore.
    • No collateral required. All the financing products offered by CoAssets business loans are unsecured but requires personal guarantees of SME directors.
    • No early withdrawal penalty. You’re allowed to may withdrawal your loan before the end of the tenure without incurring any fees.
    • Upsize available. CoAssets is the only P2P lender that allows SMEs to upsize their loan. This means that if your funding campaign received overwhelming support, you may accept more than your initial funding request.

    How much will the loan cost?

    Here are some of CoAssets’ rates and fees:

    • Interest rates. Interest rates range from 5% to 30% p.a.
    • Platform fee. A platform fee of 3% to 5% of the financing amount will apply for your funding campaign.

    There may also be other fees such as late payment penalty and cash disbursal fee, so make sure to check directly with CoAssets before applying.

    Is there anything to consider before applying?

    CoAssets is a homegrown crowdfunding platform catered to SMEs financing needs. The lender started trading on the Australian Securities Exchange in 2016 and is the largest digitally-enabled investor platform in Singapore and Asia-Pacific region.

    It is important to note that CoAssets has a relatively lengthy financing process, which can take up to 45 working days. This is comparatively longer than its other competitors such as MoolahSense and Funding Societies, which only takes 1 and 3 days respectively to disburse the funded cash. So if you’re looking for a quick cash injection, CoAssets may not be able to fund your needs in time.

    How can you apply for a CoAssets business loan

    To get started, you’ll need to fill up the loan application form. A representative from CoAssets will then get back to you with a quotation and further instructions for your application. Do note that the whole process from application to cash disbursement takes up to 45 days.

    Eligibility criteria

    Since CoAssets is a lending platform for SMEs, it only provides financing for limited liability partnerships (LLP) and private limited (Pte Ltd) companies incorporated in Singapore. However, CoAssets does not provide any specifics on its eligibility criteria on its website.

    Based on the requirements from most of the other lenders in Singapore, these are some supporting documents that you can expect to provide:

    • Latest financial statements
    • Latest corporate bank statements
    • Latest ACRA Bizfile Business Profile Report
    • Proof of identity of directors, partners or managing partner
    • Company details: paid-up capital, operation history, ongoing litigation status etc

    CoAssets may request additional supporting documents based on your financing request.

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