How Your Investment in Peer-to-Peer Lending Supports Local Businesses

Small and medium enterprises (SMEs) are at the heart of Singapore’s economy. They make up 99% of our enterprises, employ two-thirds of our workforce, and account for about half of Singapore’s GDP. To date, there are nearly 200,000 SMEs in Singapore.

While we often see success stories on news and social media, the road to success is sometimes not as straightforward. Find out how you can invest in peer-to-peer (P2P) lending with Funding Societies and support emerging Singapore SMEs.

Your contribution can directly make an impact on the business you’re supporting

According to a 2017 Straits Times poll, 40% of SMEs said that they thought the Singapore economy would grow in the next 12 months and 43% felt positive sales growth was on the cards.

By investing in SMEs through P2P lending, you directly contribute to immediate cashflow needs of the SMEs to grow their businesses. In return, you’re rewarded in monetary returns from the interests of the business loans. Funding Societies is one such platform in Singapore that is supporting local businesses through crowdfunding.

Read about how peer-to-peer lending works.

You earn potentially high returns on your investments while supporting local businesses

P2P lending harnesses the power of people to help local, homegrown businesses to grow and expand. Investing in P2P lending allows you to potentially earn up to 14% per annum returns on your investment.

It is actually really easy to invest in SMEs in Singapore through P2P lending. Funding Societies is a digital P2P lending platform that is dedicated to serving SMEs, therefore the mission of Funding Societies is aptly, “Stronger SMEs, Stronger Societies.” Investors receive monthly repayments which they can re-invest to support even more local businesses.

Support SMEs across multiple industries

The Ministry of Trade and Industry announced a $4.5 Billion industry transformation programme to systematically raise productivity, develop skills, drive innovation, and promote internationalisation, so as to catalyse transformation and achieve the stated vision of each industry. There’s also Infocomm Media Development Authority’s Go Digital Programme — an initiative that allows SMEs to increase productivity and capture more online sales through digitalization of their businesses.

However, the Singapore Budget 2017 recognizes that the government alone cannot help all businesses transform and the need to strengthen partnerships and collaborations in order to help SMEs succeed. Financial institutions, including alternative finance companies such as Funding Societies, play an important role in providing financial support to help SMEs grow and prosper.

As the minimum investment for peer-to-peer lending starts as low as $100 on the Funding Societies platform, you could help the economy holistically by investing in multiple industries and companies at the same time, in turn diversifying your investment portfolio across sectors.

Since its inception in 2015, Funding Societies has already expanded to two more Southeast Asian countries over the last two years – Indonesia and Malaysia. It is the only P2P lending platform to have won the Monetary Authority of Singapore (MAS) Fintech Award in 2016 and was recognised as one of the Top 250 Fintech companies globally.

More than 23,000 investors are already on Funding Societies’ platform regionally. Find out how to invest on the platform here.

Interested? Sign up for your investor account with Funding Societies now.

Disclaimer

This article is contributed by Funding Societies.

It should not be construed that Moneydigest is endorsing this article or any of the products and services provided by Funding Societies.

Nothing in this article should be construed as constitute or form a recommendation, financial advice, or an offer, invitation or solicitation from Funding Societies to buy or subscribe for any securities and/or investment products. The content and materials made available are for informational purposes only and should not be relied on without obtaining the necessary independent financial or other advice in connection therewith before making an investment or other decision as may be appropriate.

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3 Budget-Friendly Animal Cafes In Singapore

Best known for writing the “Supreme Philosophy of Man”, American author Alfred Montapert once expressed his ideals on animals. For him: “Animals are reliable, many full of love, true in their affections, predictable in their actions, grateful and loyal. Difficult standards for people to live up to.”

How can we compete with non-judgmental creatures that seek companionship and empathy? As much as you want to surround yourselves with adorable pets, you may be restricted by the law. You have to follow the neighborhood pet guidelines mandated by the HDB. Furthermore, you may be excessively preoccupied with work or school that you do not have enough time to maintain one. A good alternative to satisfy your fondness for cats, dogs, or birds is to visit an animal cafe.

Animal cafes may have been a rising trend in Singapore but, it has been prevalent in other parts of the world for years. Let us take Japan as an example. You will not believe the wide variety of animal cafes in Japan! From exotic reptiles to heartwarming bunnies, store owners explore unconventional pet possibilities. These cafes were primarily built to ease the stress of the country’s hardworking citizens. Previous studies support the therapeutic effects of interacting with animals.

Whether you want to chill at a relaxing environment or to build new relationships, consider visiting any of these places.

OFUR PAW CAFE

If your happy place consists of giving unlimited belly rubs then, Ofur Paw Cafe is perfect for you.

Tucked away from the hustle and bustle of the city is a gem called Ofur Paw Cafe. It is a pleasant addition to the sprouting dog cafes in Singapore. How is this so? For starters, the establishment offers Do-It-Yourself pancakes (from S$6.90) for your pup. Let your creativity run wild using their red velvet, strawberry, and chocolate batters.

You will not leave with an empty stomach as they feature an array of Western fusion cuisine. Personally, I am into their Pacific Salmon (about S$16.80) and Truffle Mushroom Pasta (about S$14.80).

Location: 21 Lorong Kilat, Bukit Timah Sun Court, #01-03, Singapore 598123
Website: facebook.com/ofurpawcafe

THE CAT CAFE

Living in a bustling concrete city does not mean that we lack the presence of furry felines! Spend a meaningful day with your family as you drop by The Cat Cafe. Before any cuddling and bouncing commence, you may take a sip of their freshly brewed coffee or a bite of their freshly baked pastery.

What separates The Cat Cafe from other establishments is its entrance fee of S$15, which includes a complimentary drink. You read that right! You do not have to pay per hour just to interact or to feed the animals (i.e., feeding portion is scheduled throughout the day). Yogurt, Tuxedo, and their friends cannot wait to meet you!

Location: 241B Victoria Street, The Cat Cafe, Singapore 188030
Website: thecatcafe.sg

PAWS N PANS

The glistening charm of Paws n Pans (or Paws & Pans) roots from its inspiring advocacy to promote a sustainable change in pet ownership. Its first outlet at Joo Chiat Road was aimed to help homeless dogs to find a haven in Singapore. In addition to this, the establishment works with various Animal Welfare Groups (AWGs) to increase awareness on the rights of pets. As an animal lover, how can you not support this great cause?

Let us move on to the eclectic dining experience. This pooch cafe serves food that can both be consumed by humans and their pets. It creates an environment that allows you exchange conversations with your fellow dog-owners. Try their popcorn chicken, Thai tea, and other treats found here. You may host an intimate party for your beloved pet by renting a room at their three-storey space.

Image Credits: facebook.com/pawsnpans

Image Credits:
facebook.com/pawsnpans

Your children, no matter how young, can come with you inside the cafe. What’s more? Admission is totally free!

Location: 327 Joo Chiat Road, Paws n Pans, Singapore 427584
Website: pawsnpans.com.sg

BONUS: If your budget is more lenient, you can enjoy a lively lunch with the parrots of Jurong Bird Park. Expect to enjoy colorful performances as you indulge on a hearty buffet. Prices are S$25 for adults and S$20 for children. These prices exclude the exclude park admission fees.

Those are some of the budget-friendly animal cafes in the country. Which one is your favorite? Feel free to leave a comment below! 🙂

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Use Medisave To Overcome 11 Vaccine-Preventable Diseases

Health has long been associated with wealth. According to this age-old proverb, good health plays a vital role to reaching a prosperous life. Having poor immune system may lead to more abseentiesm at work or at school. Furthermore, you illnesses are usually accompanied by medicines and medical fees. You waste time and money when you are constantly sick.

The good news is that the Ministry of Health (MOH) has established the National Adult Immunisation Schedule (NAIS) for Singaporeans aged 18 and beyond. You are encouraged to protect yourselves against vaccine-preventable diseases under the NAIS. In the beginning of next month (November 1, 2017), you will be allowed to use your Medisave to acquire recommended vaccinations for the specific population groups that you belong to.

To reduce confusion, I am highlighting that Medisave is different from MediShield. Medisave is the national medical savings account that Singaporeans need to fulfill to cover future medical needs. Individuals or your employers need to regularly contribute as long as you are employed. On the other hand, MediShield is a low-cost medical insurance scheme aimed to pay for larger hospitalization bills.

Now that you are enlightened about Medisave, I must eagerly note that this vaccination scheme is highly encouraged. However, it is not mandated! You are free to discuss your vaccination needs with your trusted physician. You do not want to be allergic to the ingredients of a particular vaccine (e.g., the latest Influenza shot I took was not suitable to individuals who are allergic to egg)! That will only make matters worse.

If you wish to use your Medisave, you must ask your healthcare provider prior to the vaccination. You will be able to use up to S$400 at public healthcare institutions, Medisave-accredited GPs, and private hospitals. The eleven diseases covered by this scheme are:

(i) Influenza;

(ii) Pneumococcal (PCV13/PPSV23);

(iii) Human Papillomavirus (HPV2/HPV4);

(iv) Tetanus, Diphtheria and Pertussis (Tdap);

(v) Measles, Mumps and Rubella (MMR);

(vi) Hepatitis B; and

(vii) Varicella.

Let us part ways with the significant words stated by the Senior Minister of State for Health – Dr. Lam Pin Min.

Image Credits: pixabay.com

Image Credits: pixabay.com

“Vaccination provides a person with protection against infectious diseases, and is one of the strategies to reduce the risk of disease outbreaks in the community. While the coverage for vaccinations under the National Childhood Immunisation Programme has been high for most of the vaccines, there is low awareness of the benefits of adult vaccination for personal protection and protection of at-risk family members. With the introduction of the National Adult Immunisation Schedule (NAIS), we hope to encourage Singaporeans to take up the recommendations made in the NAIS, to protect themselves and their loved ones against the relevant infectious diseases.”

Sources:  1 & 2

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Striking Stories From Singapore’s Inspiring People

Who pushes you to become a better person? Who inspires you to wake-up blissfully each morning? Who motivates you tackle the daily tasks in the workplace?

If you cannot think of legendary figures or concrete reasons to combat life’s bustling challenges, consider hearing out these striking stories.

THE BLADE RUNNER

A brave man was once quoted saying: “Every run tells a story. For every failure, there is hope within. And [for] every ending, there’s an achievement and a new beginning.”

In this case, the brave man is none other than Mr. Shariff Abdullah. He is known better as Singapore’s Blade Runner. His dedication to marathons despite running with a prosthetic blade made him earn the alias. His unwavering spirit sparked his journey to fulfill more than twenty marathons worldwide.

Just last year, the Blade Runner attracted a nationwide buzz. He conquered the Tenzing-Hillary Everest Marathon for a chosen charity and for increased awareness.

“It’s not about being the first amputee or being a champion. I’m doing this to raise awareness that someone like me with a disability can do something like this. I think it will serve as motivation to young children or anyone, that they can achieve their dreams.”

THE YOUNG STAR

As young as she is, Gelyn Ong understood the selfless act of sharing her magnificent talent. Her passion for the arts began when she was scribbling on a paper at age 4. Since then, she dived into the bold world of acrylics on canvas. She had her first solo art exhibition at age 7. What were you doing at this prime age (I was probably playing with a plastic cooking set or watching cartoons)?

Each of her utterly whimisical artworks convey a strong message about the values that she holds dearly (e.g., conservation of Mother Earth). Furthermore, two of her exhibitions raised funds for diverse charities. She once raised about S$90,000 – talk about a blossoming talent with a genuine cause.

Furthermore, her artworks were once used for and EZ-Link cards in behalf of the Make-A-Wish Foundation. You may get a good grasp of her talent by purchasing her book entitled “The Forest Fable“. Impressively, she published this book when she was 9.

THE WILLING HEART

Singapore’s largest food kitchen, the Willing Hearts, was founded by Mr. Tony Tay. This organization distributes about 3,000 meals per day with their service points spreaded across the nation. They tirelessly give away free food for the people who are in crucial need.

The biggest turning point in Mr. Tony’s life was the passing of his beloved mother. He noticed that numerous individuals paid their respect despite having no formal invitation. His mother touched their lives throughout the years. At that moment, he knew he wanted to help others.

He initially hand out bread to the migrant workers and aided about fifty citizens in Bukit Ho Swee each day. He was captivated by the gratefulness that he saw in their eyes. He never stopped his advocacy since then. The humbling thing is, he personally extends his unceasing service throughout the years. You may join his fulfilling cause by volunteering at willinghearts.org.sg.

THE HALL OF FAMER

Imagine being born with significant limits whereby the doctors warned you of the gloomy possibility that you might never be able to walk again? Others may quit right then and there, but not Ms. Laurentia Tan. She was diagnosed with Cerebral Palsy and Profound Deafness at an early age. To strengthen her muscles and spine, she took up equestrian activities (i.e., horseback riding). This form of physiotherapy turned her into a legend.

She won two bronze medals at the 2008 Beijing Paralympics and a silver medal at the 2012 London Summer Paralympics, among others. She was able to participate in dressage events that require movements synced to the music too! Isn’t she remarkable? Singapore’s authorities in sports think so!

In August 2017, she was rightfully awarded with a “Sport Hall of Fame” as an athelete who contributed to the country’s sports success. She was honored at the Singapore Sports Museum alongside Joseph Schooling and Theresa Goh.

Sources:  1, 2, & 3

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4 Rental Tips For Expats In Singapore

Ring in the reality check! Singapore is a country which considers “space” as a luxury. Singaporeans do not usually keep their spare rooms open for annual guests to lounge on. More often than not, they keep these extra rooms for rental. You would be suprised to learn the amount of bedrooms that landlords can squeeze in a seemingly small condominiums.

It goes without saying that it is cheaper to rent out a single room than the entire flat. So, set a minimum bedroom requirement as well as a minimum size requirement before signing a contract. Equip yourself with rental strategies such as this.

UNDERSTAND THE DISTRICTS

What are the Singapore’s districts? Well, watching the Hunger Games series was probably the last time you have heard about a nation’s divisions. Similarly, Singapore’s districts offer distinct living experiences. You cannot get away from these categories as an expat or someone who is looking for a place to live at.

You must study the district codes initially. These codes tell you whether a rental unit is located at the core of the central region (e.g., District 10 including Tanglin Road), within the radius of the central region (e.g., District 2 including Chinatown), or outside of the central region (e.g., District 28 including Yio Chu Kang).

EMBRACE THE OUTSKIRTS

Location is one of the most important factors interplaying with the market’s property prices. Now that you have a grasp of the twenty-eight districts, you can distinguish between the “central region” and the outskirts. Rent is cheaper in areas away from the central region and the MRT (Mass Rapid Transport) stations.

The central region may not necessarily apply to your lifestyle. As Singapore is compact and accessible, odds are, you are about an hour away from the central region with public transportation. For instance, you can easily travel from the Boon Keng “heartlands” to the Orchard “central” through MRT or buses. You can even walk from one town to another (e.g., I once walked from Toa Payoh to Novena for 20 minutes).

Furthermore, the government seeks to make every town self-sustaining. Almost every neighboorhood has its own parks, shopping malls, and eateries. Ask yourself: Is a central location too overrated?

PLAN YOUR ROUTE

One cannot deny that we all have distinct personalities. If you are not a morning person and you find it difficult to allot an hour of leeway every morning for your commute then, opt for another strategy. Maximize your preparation time and lessen your transportation costs by finding an affordable place near your workplace.

As pointed above, location is an essential factor. Do a quick Google search on the possible routes you may take to get to your destination. Choosing the smartest way gets you to work on time. Being punctual is a respectable trait to have as an employee.

The humble country has a network of buses and trains. However, the vehicle interval or arrival time of buses is more unpredictable than the trains. Taking the MRT is generally a better choice.

CONSIDER THE HDB

In the recent years, more and more foreigners have warmed to the Singapore’s public housing or HDB (Housing and Development Board). Before you completely frown upon this idea, here are some of the reasons why this is a viable option:

a. There is a significant difference between private and public rentals. HDB flats with 2 rooms start at S$1,500. While, the same space costs about S$3,000 at private condominiums.

b. HDBs are usually walking distance from town facilities and public buses.

c. Food is insanely cheaper than the ones available at the condominiums as hawker centres are typically at the ground floor of the building.

Image Credits: pixabay.com

Image Credits: pixabay.com

If you are planning to stay in Singapore for a long period of time, staying at an HDB flat will allow you to absorb the local culture better.

Sources: 1, 2, & 3

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