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Post by df on Jan 19, 2018 20:22:58 GMT
Email: It's been a long time coming!...... But we are finally please to announce a new business loan will go live on Huddle on Monday 22nd January. The loan is for £65,000 to a very established leisure operator and will pay 16% per annum interest during its 18 month term. The full borrowing proposal will be available once the loan goes live. It would be much better if they specify the time.
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Post by dan1 on Jan 19, 2018 21:21:10 GMT
Email: It's been a long time coming!...... But we are finally please to announce a new business loan will go live on Huddle on Monday 22nd January. The loan is for £65,000 to a very established leisure operator and will pay 16% per annum interest during its 18 month term. The full borrowing proposal will be available once the loan goes live. Let us hope it's secured. I wonder if it's a refinance from the parent company, perhaps similar to the beer loan on ABL?
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Post by df on Jan 19, 2018 21:33:41 GMT
Email: It's been a long time coming!...... But we are finally please to announce a new business loan will go live on Huddle on Monday 22nd January. The loan is for £65,000 to a very established leisure operator and will pay 16% per annum interest during its 18 month term. The full borrowing proposal will be available once the loan goes live. Let us hope it's secured. I wonder if it's a refinance from the parent company, perhaps similar to the beer loan on ABL? The rate suggest that it is probably unsecured. I wish they give more details, so we don't have to guess.
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Post by dan1 on Jan 19, 2018 23:28:29 GMT
Suggestion for borrower: B*****g N***t? Any thoughts? Not at 16%
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SteveT
Member of DD Central
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Post by SteveT on Jan 20, 2018 10:35:56 GMT
Given it's the same rate, my guess is it's the pole-dancing club again (unsecured).
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Post by dan1 on Jan 20, 2018 10:45:39 GMT
Given it's the same rate, my guess is it's the pole-dancing club again (unsecured). That's the beauty of Huddle, you get to choose whether you invest in a pole-dancing club being built or one in full flow
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badersleg
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Post by badersleg on Jan 22, 2018 12:38:02 GMT
Looks like it has appeared on the website. Tim
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SteveT
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Post by SteveT on Jan 22, 2018 13:26:30 GMT
Looks like it has appeared on the website. Tim Where I think I shall be leaving it. If the 3 shareholders have £3.5m of net assets between them, why do they need to borrow £65k unsecured (have they nothing they're willing to put up as hard security?) to refurb one of their bars, at what must be costing the business 25%+pa if lenders are to get 16%? ps. Actually the 3 A&L statements appear to add to a net £2.8m, not the £3.5m claimed, and that includes a £300k life insurance policy (!?!)
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r00lish67
Member of DD Central
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Post by r00lish67 on Jan 22, 2018 15:37:15 GMT
So it's basically a small Funding Circle 'D' loan, without the (slight) added comfort of being originated by a platform that is at least well established.
Recourse to the actual bars themselves is presumably unavailable because both our firm and at least one further firm ( Bl***ne ltd) have plenty of outstanding charges to P****s bars.
Bl***e ltd is also in liquidation.
That firm (again, not the firm this loan is against, but shares 2 directors), has 5 outstanding charges, and the liquidators report notes that in addition, there are unsecured creditors to the effect of:
HMRC: £425k Other unsecured creditors: 41, for a total of £540k
Perhaps more worthy of attention also for any potential investors is section 13.2 of the progress report (Nov 17) of the winding up of that firm, which describes a number of assets and debtors liabilities that have been transferred to the firm that the Huddle loan is against, and for which each transfer is still under active investigation by the liquidators.
The obvious concern there is, as pointed out in section 13.2 (again) of the liquidators report this time, possible recovery of debt from P*****S bars I******S Ltd is stated as requiring further investigation as well as "claims for damages against the directors in misfeasance in respect of the asset transfers to <huddle loan firm>".
Note that I'm not implying any misdeeds here, I have no idea, just pointing out that for those whose bargepole isn't already thoroughly in stead, you might want to look into it further to confirm that that's taken into account. I'm not particularly feeling the urge to delve much deeper personally!
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Post by dan1 on Jan 22, 2018 15:48:06 GMT
Loan added to the following: - Travel Guide, link- Travel Guide on DD Central, link- Google Earth kmz on DD Central, link
- Huddle Capital loan book, link- Huddle Capital loan book on DD Central, link
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Post by dan1 on Jan 22, 2018 15:52:16 GMT
Look on the bright side r00lish67 , it appears to be their local (Huddle Capital that is) - perhaps they have more than a passing interest
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Post by valuehunter on Feb 2, 2018 17:58:52 GMT
Was this pulled?
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Post by dan1 on Feb 2, 2018 18:18:56 GMT
No, it's live. Follow the link in this post to the loan where you can set bids/offers. It appears to have not made it to the secondary market overview, an oversight perhaps - huddlecapital ?
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Post by dan1 on Feb 13, 2018 14:02:01 GMT
huddlecapital - loan 1000066 to P****** B*** is still not visible on the secondary market, it went live on 1 Feb. The loan can be accessed by this direct link where it appears that bids/offers can be placed but understandably there are currently no bids/offers. Is this an oversight or is there an issue with this loan? Thanks
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stevio
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Post by stevio on Feb 20, 2018 17:29:30 GMT
Email received: Dear XXXX, There is a new comment on the P****** B*** I********** Ltd - Cosmetic refurbishment to Leeds Bar thread. Please feel free to view the thread and reply where appropriate. Loan ID: 1000066 Kind regards, The Huddle Team ?? Cant find the loan or the "thread" ??
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