LOANS PAYABLE

Individuals can invest in loans that are offered through the Company’s marketplace and network. All the loans have maturities from six months to two years with interest rates varying from 4% to 54% per annum.

Loans payable consisted of the following as of September 30, 2018 and December 31, 2017:

			Remaining	September 30,		December 31,
Interest rate			maturity	2018		2017
				(Unaudited)

	4	%	Within 1 year	$	-	$	-
	12	%	Within 1 year		136,870		-
	13	%	Within 1 year		-		15,370
	14	%	Within 1 year		75,716		158,316
	18	%	Within 1 year		800,839		-
	40%-54	%	Within 1 year		9,528,522		1,019,064
	40%-54	%	Between 1 to 2 years		1,477,911		2,906,562
				$	12,019,858	$	4,099,312

			Current portion	$	10,541,947	$	1,192,750
			Non-current portion	$	1,477,911	$	2,906,562

The Company has loans payable to related parties of $8,315,616 and $2,499,245, and loans payable to third parties of 3,704,242 and $1,600,067 as of September 30, 2018 and December 31, 2017, respectively. For the nine months ended September 30, 2018 and 2017, the Company recorded $2,504,232 and $1,266,368 of interest expenses, respectively.