ModuleCash

"ModuleCash" is a platform on which the companies which won the state tender can receive money for accomplishment of government contracts from investors.

2019: Overcoming a mark of 1 billion rubles of the issued loans

On May 27, 2019 the Modulbank company reported that service of collective crediting of the ModuleCash overcame a mark of 1 billion rubles of the issued loans. For May, 2019 more than two thousand investors work at the platform, jointly they issued to entrepreneurs more than one thousand loans. The average loan amount makes 960 thousand rubles. An average rate — 31.5%. More than 70% of loans on the platform are already extinguished. About 20% are the current projects.

According to the company, Modulbank opened the platform of the ModuleCash for wide audience in April, 2018, for over a year it came to the first billion loans. The platform works with small business by the principle of a kraudlending — collective crediting. The ModuleCash works only with entrepreneurs who need money for execution of government contracts as information on such contracts publicly and the investor understands a source of repayment of a loan.

For 2018 we built work with arrears, since monitoring of settlings with borrowers under contracts, finishing with money recovery through court. On the basis of the got experience we reconsidered contractual relations with borrowers and to politician of selection of requests. Without it it was impossible to move forward, quickly increasing a portfolio of loans. By the end of the year we are going to increase a portfolio by 4 times and to issue 300 million rubles of loans a month. Leonid Shevchenko, CEO Moduldeneg

The delay for May, 2019 makes less than 10% of all portfolio of the issued loans. The Moduldeneg command developed and implemented own technique of return of delays on the credits which is based on the assignment agreement. With its help it was succeeded to return more than 140 million arrears, the most part of the current delays is in court and is systematically repaid.

2018: Launching

Modulbank announced on April 18, 2018 start of the online platform of p2p-crediting of ModuleCash. After five months of testing service became available for all comers.

According to the company, for last 5 months of test work 102 loans of 130 million rubles from which 27 loans are already extinguished were issued.

The main condition for borrowers is existence of the existing public contract before which end — no more than 6 months. For application it is rather simple to borrower to specify number of the tender, the desired amount and term of a loan. Documents, the guarantee or pledge are not necessary. Giving and consideration of the request happen online in only 5 minutes. To undergo testing and to begin a whip-round, it is necessary to register the account on the website of Modulbank and to attach the scanned passport copies of founders and the CEO of the company.

Individuals, individual entrepreneurs and the companies can act as investors of projects. Registration of the individual on the platform of the ModuleCash will require only phone, passport data and a TIN, it is not necessary to come anywhere. All operations on issue and repayment of a loan happen online through personal accounts of the borrower and investor on the platform. It is possible to recharge for investment on the platform simple transfer from the account in any bank, told in Modulbank.

According to the company for April, 50 borrowing companies and more than 500 investors already use service. Average yield of projects (a loan rate) — 31.7% per annum. The maximum amount of a loan is not limited. Loan term — up to 6 months. Loan repayment happens to percent at the end of term, it is possible to repay ahead of schedule without penalties.

Platforms of p2p-crediting — an alternative to classical financing of business — Oleg Laguta, the co-owner of Modulbank noted. — They kill a headache from the entrepreneur taking the credit — the guarantee, pledge, documents and long term of consideration. Besides, banks have usually severe standard conditions. Therefore at any unusual situation just refuse issuance of credit. On the platform of the ModuleCash the investor himself makes the decision whether he is ready to undertake risk under non-standard conditions.

Until the end of the year the platform of the ModuleCash is going to attract 1-1.3 billion rubles.