Financial literacy workshop

On 25th May 2022, JCI Quatre Bornes in collaboration with FinClub, a Peer to Peer Platform, organised a financial workshop. Mr Gavesh Deonanand, a Financial analyst, coached the audience on peer to peer lending. The purpose of FinClub is to connect creditworthy Borrowers seeking competitive personal loans with Lenders looking to fund the loans and earn higher returns on their investments.

As a new financial firm, the company was looking for ways to promote their product while also educating people on investments. The most interesting aspect of this project is that it allows for easy investment via an internet platform.

Launched in September 2021, the FinClub has already attracted over 50,000 visitors and received 1,000+ loan applications. With 100+ individual investors forming the Lender Community on the platform, more people are seeing it as an attractive alternative investment, particularly when compared to the low returns available elsewhere (i.e. 0.30 to 1.00% p.a. Savings rate). Historical returns are as high as 12.05% p.a. Their vision is to financially empower the underserved population and to make investment more accessible. In this financial workshop, we have discussed how the direct lending allows certified lenders to charge higher interest rates and provide competitive loans to borrowers.

To conclude, I want to thank all my board members for their support and dedication and special thanks to the chief editor. Last but not least, I would like to thank 2022 Local President Ashfaaq Ochatoya for his unwavering support for this project.

Project director