Cycloan is a P2P lending platform connecting tech sme/ startups and Sponsors. It is building a new de centralized financing ecosystem that will fundamentally change the way tech business get their projects financed
Cycloan transactions in Singapore is carried out in SGD and outside Singapore transactions are carried out in USD
Cycloan is the intermediary between the sponsors and tech sme’s. In cases of good projects that are missed by the qualified investors are funded by the Cycloan tech fund
The smart contract is a blockchain enabled contract that saves all the data about the sponsor and tech sme. This data includes the ownership details, documents and transactions on the platform
Platform provides capital to good projects that are missed by the qualified investors in the initial phase of matchmaking
To qualify, your business must be a registered entity in its operating country, with an operating history of at least 2 years. In case of Singapore the entity must be registered with ACRA
Cycloan has no restrictions on the number of projects and funds per project for both SMEs and sponsors. Quality and creditworthiness of the project/SME plays an important role and is the deciding factor to be a part of Cycloan system
Commission for Cycloan in any transaction depends upon the project value of SME and the risk assessment of the project conducted by Cycloan
Typically within 48 hours of our team getting all required documents and information
Typically within 48 hours of our team getting all required documents and information, and ascertaining that the funding application meets the credit risk criteria.
The repayment process will be dependent on the project value , project duration and the contract signed between sponsor and SME
The default criteria is decided based on the agreement signed by the SME and Cycloan during the SME approval and it is specific to the SME
Projects that are evaluated as good and credible by Cycloan system, but has not gained enough tractions from the sponsors will be funded by Cycloan technology fund. Sponsors can also allocate a part of their investment in Cycloan tech fund which can then be used for funding projects
Yes all stakeholders will be allowed to participate in Cycloan ecosystem
In phase 2, Cycloan partners can provide resources and assets to project owners and SMEs through a procurement and commerce platform. This platform provides services like purchase equipment, obtain licenses, and other things required to complete their project
Membership plan for SMEs is coming soon and will be displayed in the product – SME login
To qualify, your business must be a registered entity in its operating country, in case of a Tech company or financial institution. In case of high net worth individual, the individual must be an accredited investor
No, there is no registration fee for sponsor
When the project is matched between a sponsor and SME by Cycloan and system asks for confirmation from the sponsor for funding the SME, the sponsor should have the project value (to be funded) as a minimum amount in the escrow account.
The maximum amount that can be funded depends upon the worthiness and valuation of the projects submitted by SME and the risk assessment carried out by Cycloan. There is no upper limit on the amount that can be funded
Cycloan collects penalty fees for SME’s making late repayments
The default criteria is specific to the Terms & conditions signed by the SME with Cycloan at the time of registration
Cycloan conducts end to end robust digital KYC verification process and ensures only genuine and credible SMEs and sponsors to be a part of the system.