Frequently Asked Questions

Most of the loan process is handled online. You first fill in your information, then our system will pre-approve your loan. After your loan is pre-approved, our loan specialist will contact you to verify your documents. Then we will arrange for signing loan documents and collateral.
Currently, you just need to meet following requirements to apply for our loan:
  1. 18 years or older and primarily reside in Hong Kong with a HKID
  2. Not bankrupted
  3. Have some form of asset (e.g. property, stocks, cars, etc.) that can be used as collateral.
We generally require the following documents:
  1. Identify and Address Proof
  2. Ownership Proof of asset
  3. Details of the asset you plan to use as collateral
  4. Income Proof
  5. Credit Report
We can definitely help you obtain some of these documents.
Our loans can benefit you in a lot of ways. Below are some of more common purposes for our loans:
  1. Student Tuition
  2. Partial payment for a home
  3. Repayment for existing banking facilities
The loan is legal document. Thus, you are legally obligated to pay the loan and interest. If you fail to pay the loan, the interest will continue to accumulate at the rate. The lender usually go through the following process to recover the loan:
  1. Send you legal demand letters for repayment
  2. Apply to court to take possession of your collateral
  3. Sell your collateral to recover your loan
Note that the Lender is not allowed to sell your collateral unless they go through the legal process to take possession first. However, your interest will accumulate at the rate of your loan even when you do not pay.
FundSmart uses the crowdsourcing method of finding you the best lender. Each lender or investor has his or her own preferences. Our goal is help you find the lowest rate based on your need. In general, we expect our rates to be slightly higher than bank rates, but lower than that of traditional lenders.
Our system will provide you with regular status updates of your loan status. We are constantly working to improve our system to give you more up-to-update information.