ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Mar 27, 2018 18:13:05 GMT
This is for notification only, probably best to start a separate Thread for each Loan to facilitate any discussion.
We will be launching two new self-select loans this week from existing Borrowers, one on Wednesday and one on Thursday. The first will launch and go live on the platform at 10am on Wednesday 28 March. The Borrowing Proposal for this loan will be provided alongside an independent valuation report on the principal security asset valued at £2,500,000 thus providing a LTV of 60%.
Wednesday 28 March 2018 Loan Launch Details:
* Borrower: O** H******l Limited
* Amount: £1,495,000
* Term: 8 months (8 months minimum term)
* Rate: 15% - Interest Only
* Security: 1st Legal Charge over land, Debenture over the operating company, Director/Shareholder Personal Guarantees.
* Instant Returns: Enabled
* Loan Launch: 10am 28 March 2018
The second loan will launch and go live at 2pm Thursday at which time a Borrowing Proposal will set out the details of this loan tranche.
Thursday 29 March 2018 Loan Launch Details:
* Borrower: A***** C********* I******** 1 Limited
* Amount: £500,000
* Term: 36 months (6 months minimum term)
* Rate: 12% - Interest Only
* Security: Debenture over the operating company, Cross Corporate Guarantee.
* Instant Returns: Enabled
* Loan Launch: 2pm 29 March 2018
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Mar 27, 2018 19:04:43 GMT
No criticism taken newp2p, I have the hide of a Rhino! Yeah, noted that and was tempted to post in the ABL Pipeline but " staff posts only" scared me off, having been spanked before by The Mods & Rockers for a misdemeanour.  |
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Post by fatbritabroad on Mar 27, 2018 19:07:21 GMT
No criticism taken newp2p, I have the hide of a Rhino! Yeah, noted that and was tempted to post in the ABL Pipeline but " staff posts only" scared me off, having been spanked before by The Mods & Rockers for a misdemeanour. Sone people pay good money for things like that 😉
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Mar 27, 2018 19:10:31 GMT
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Joss
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Post by Joss on Mar 28, 2018 7:46:24 GMT
Is there any discussion about these two loans happening anywhere?
It concerns me that the same old borrowers are at it again - can their business models really sustain these kinds of interest rates in the long term?
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Post by Deleted on Mar 28, 2018 8:31:17 GMT
No criticism taken newp2p, I have the hide of a Rhino! Yeah, noted that and was tempted to post in the ABL Pipeline but " staff posts only" scared me off, having been spanked before by The Mods & Rockers for a misdemeanour. Sone people pay good money for things like that 😉 $130,000 I understand :-)
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Post by Deleted on Mar 28, 2018 8:33:36 GMT
Is there any discussion about these two loans happening anywhere? It concerns me that the same old borrowers are at it again - can their business models really sustain these kinds of interest rates in the long term? Not yet, we are waiting for the details to come out at 10 and 2 on Thursday, but it is fair to say the 15% puts me off and the same borrowers aspect does not make these attractive to start with.
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blender
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Post by blender on Mar 28, 2018 8:42:10 GMT
There is some discussion in the thread of 80. It is rather connected with this tranche.
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Post by Deleted on Mar 28, 2018 9:14:33 GMT
My concerns,
1) Total interest rates the borrowers will be making (add them up)
2) Assets outside the reach of a UK court make PG interesting
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ceejay
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Post by ceejay on Mar 28, 2018 9:46:07 GMT
This is for notification only, probably best to start a separate Thread for each Loan to facilitate any discussion. But are they separate loans? Is it a coincidence that £500,000 is shown in the proposal for Loan 98 as being provided by a company with a similar name to the borrower in the second new loan (details of which aren't posted as I write this)? Either way neither of these are getting more of my money: I need new borrowers, not the same old ones.
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r00lish67
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Post by r00lish67 on Mar 28, 2018 10:17:26 GMT
Just in case anyone missed it, the first of these loans was to be posted today rather than tomorrow, so it's up there now on their website in it's full glory.
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blender
Member of DD Central
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Post by blender on Mar 28, 2018 11:22:32 GMT
ablrate how are the interest and the fees on the extension of 80 going to be repaid? I was expecting a statement that some of 98 would be held to pay the interest and fees on 80, but can find nothing. If this is to be done, then it should be declared imo. Nothing wrong with it, in fact we need to be sure that 80 is covered in some way, because once 98 is funded, the fortunes of these two loans are rather bound together.
Edit. Thanks stevio -below. I see it now in the addendum to 80, para 5. ( It seems 98 and 80 are being kept as unlinked as possible - probably because the physical security is separate.)
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stevio
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Post by stevio on Mar 28, 2018 11:49:58 GMT
ablrate how are the interest and the fees on the extension of 80 going to be repaid? I was expecting a statement that some of 98 would be held to pay the interest and fees on 80, but can find nothing. If this is to be done, then it should be declared imo. Nothing wrong with it, in fact we need to be sure that 80 is covered in some way, because once 98 is funded, the fortunes of these two loans are rather bound together. Further interest held on account for extension 80 (no doubt coming from £500k AC loan or whats left of 72)
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sapphire
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Post by sapphire on Mar 28, 2018 12:59:19 GMT
My concerns, ....... 2) Assets outside the reach of a UK court make PG interesting 1."Assets outside the reach of a UK court". What is the basis/source of this statement please? 2.The total net worth of the PG provider(s) has been mentioned in the document for some other loans but I couldn't find it in the docs for 1000098 (nor in the related 1000080 with similar borrowers). Any idea what it is? 3.Any idea of the amount / proportion of the total assets of the PG provider(s) which are outside the reach of a UK court?
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Joss
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Post by Joss on Mar 30, 2018 8:00:55 GMT
I don't have access to DD central yet. Does anyone have any thoughts on ACI1 and these car loans in Leeds? Are we comfortable that the assets/SPV's are ringfenced and this is sustainable?
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