A loan contract is only created once the crowdfunding project is deemed successful. A project is considered successful if:
(i) the loan crowdfunding request is 100% funded or
(ii) the loan crowdfunding request is 80% funded by the time the subscription period expires.
When condition (ii) occurs, the SME borrower has the option to reject the loan. This is necessary as they may not have enough funds to fulfill their business obligations and rejection would be appropriate for the sake of both the investors and SME borrower.
The original loan contract shall be generated by our platform and be emailed to all the related investors and business with the registered email provided in your personal profile.
A copy of the said contract will be made available in your own SeedIn account for future reference if need be.