On December 20, 2018, we added a bot option to our Planned Funding feature for lender convenience. Its purpose is to provide more clarity on Modalku lenders’ funding activities. The feature has been active since 14 January 2019.
We thank our lenders for the feedback submitted on the newest version of our Planned Funding feature. We hope this latest version is to your satisfaction and we hope to continue to improve so we can serve you better.
Purpose of Planned Funding
Planned Funding was created to ease our lenders’ funding management by selecting loan criteria that suit their preferences from the outset without having to log in or manually monitor available funding opportunities.
Criteria of Planned Funding
If you have not added a new bot, please log in to set the Planned Funding feature on our website. Since the new version was launched, the old settings don’t work anymore. For detailed information on each feature, please log in to set a Planned Funding bot through our website. The following is a list of criteria that can be set via Planned Funding:
Interest Rate: You can set minimum and maximum interest rate range for loans you wish to fund.
Tenor: You can set the minimum to maximum loan tenor range for the loans you choose to fund via Planned Funding.
Industry: You can select the types of business industries you would like to fund using Planned Funding.
Minimum and Maximum Funding Range: Now, you can set your preferred funding range. We would not allocate funds below the minimum amount you have set.
Exhaust Balance: If the remaining funds on your account is lower than the minimum funding range you have set on Planned Funding, our bot would still try to allocate funds with what amount is left on your account.
Maximum Funding per Borrower: This is the maximum percentage of your funds that our Planned Funding bot would allocate to one single borrower. This feature is well-suited to our Invoice Financing product, where a borrower would usually repeatedly take out short-term loans.
For more details (and illustrative examples), log in to your Modalku account through our website or app.