Post by ozboy on Oct 30, 2017 8:36:13 GMT
Q3 2017 Performance
In the third quarter of the year we saw our live loan book decrease for the first time. This was a result of loans repaying lenders over £6m during the quarter and originating £5.8m of new loans during in the quarter.
We have had four defaulted loans in quick succession in recent weeks. One resolved with a full recovery within two weeks and the remaining three are outstanding. These are our first ever defaults in two and a half years’ trading.
We therefore focused resources on ensuring that our first defaults were handled with due care and attention. We are confident that we have taken appropriate action and that the recoveries are in good hands with our legal teams and appointed Administrators.
The remainder of our loan book is performing well and we are now looking forward to a period of growth. Our loan pipeline is strong and we will be launching new loans to lenders in the coming weeks.
All sounds good to me MT, thanks for an Honest Report!
In the third quarter of the year we saw our live loan book decrease for the first time. This was a result of loans repaying lenders over £6m during the quarter and originating £5.8m of new loans during in the quarter.
We have had four defaulted loans in quick succession in recent weeks. One resolved with a full recovery within two weeks and the remaining three are outstanding. These are our first ever defaults in two and a half years’ trading.
We therefore focused resources on ensuring that our first defaults were handled with due care and attention. We are confident that we have taken appropriate action and that the recoveries are in good hands with our legal teams and appointed Administrators.
The remainder of our loan book is performing well and we are now looking forward to a period of growth. Our loan pipeline is strong and we will be launching new loans to lenders in the coming weeks.
All sounds good to me MT, thanks for an Honest Report!
