Nomad
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Post by Nomad on Apr 30, 2018 12:51:35 GMT
Seeking £1.4m on the basis of 4 lines of financial data, which cry out for some explanation as to how this year's projected 5-figure loss is to become a 7-figure profit in 2019. May we have more detail, hugoarchover ?
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m2btj
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Post by m2btj on Apr 30, 2018 13:04:25 GMT
Seeking £1.4m on the basis of 4 lines of financial data, which cry out for some explanation as to how this year's projected 5-figure loss is to become a 7-figure profit in 2019. May we have more detail, hugoarchover ? I'd second this! Archover provide the briefest financial data for many loans. I'm holding off further investments until I can see more detailed information before pledging. A couple of loans have defaulted recently & I want to make a more informed decision before investing.
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liso
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Post by liso on Apr 30, 2018 13:53:28 GMT
As it stands, the financial data on its own provides clear reasons NOT to invest IMO.
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Post by stevepn on Apr 30, 2018 16:55:22 GMT
According to a quick search on the net The firm's license ceased to have effect on 12 February 2017. and also not a registered company or LLP. Not sure what that means in practice.
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m2btj
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Post by m2btj on May 1, 2018 7:22:05 GMT
According to a quick search on the net The firm's license ceased to have effect on 12 February 2017. and also not a registered company or LLP. Not sure what that means in practice. It means that I won't be investing!
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Nomad
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Post by Nomad on May 1, 2018 7:49:19 GMT
£160K raised with 4 days left.
N.B. "*Important* : This loan is part of a funding series totaling £1.4m. No money will draw down to the borrower until the full £1.4m has been raised. Lenders will start to earn interest 14 days after each loan fully funds."
So 11.4% there so far...
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Nomad
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Post by Nomad on May 1, 2018 7:51:40 GMT
As it stands, the financial data on its own provides clear reasons NOT to invest IMO. Some brief and fairly vague comments have been added now.
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m2btj
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Post by m2btj on May 1, 2018 11:12:57 GMT
£160K raised with 4 days left. N.B. "*Important* : This loan is part of a funding series totaling £1.4m. No money will draw down to the borrower until the full £1.4m has been raised. Lenders will start to earn interest 14 days after each loan fully funds."
So 11.4% there so far... They'll be some serious cash drag if the loan doesn't draw down until the full £1.4m has been raised. Cash drag can be 7 days plus on a standard loan offering & I always factor this in to effect it has on the interest rate.
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liso
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Post by liso on May 1, 2018 11:15:23 GMT
As it stands, the financial data on its own provides clear reasons NOT to invest IMO. Some brief and fairly vague comments have been added now. Slightly more clarity, which confirms my earlier decision. I wish them well, but I won't be investing.
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Post by notascooby on May 9, 2018 16:03:23 GMT
Apologies for any repeat. H*** S****t S*********s is a Liverpool Company SRA no 520***. No sign of disciplinary actions against the company under that name or the names of directors and ex directors at SRA or Solicitors Disciplinary Tribunal. They had a fair amount of business in RTC injury claims are adapting to changing legislation and aiming for new types of claims. They seem to be volume solicitors - which means they generate or get leads on a large scale for many similar issues eg PPI mis-selling, that can be dealt with as a production line. The advantage to this methodology is that the quick turnover improves billing times. There are a number of ready made business improvement and workflow packages over from the USA aimed at solicitors practices (as well as dentists and private doctors). I don't know if they are using them but I would be surprised if it had not been considered.
Like many other PI firms they are ditching the lead generation companies (that's those unsolicited calls telling you that someone at your number has had an accident). GDRP is on the doorstep and word on the street is that law firms want to distance themselves from the seedy end of the business. There have been some other law firms pitching for the same P2P purposes.
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mary
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Post by mary on May 9, 2018 16:51:39 GMT
New tranche to HSS launched, £2-300k.
Don't know if I missed it last time, but it is now stated that the Directors collectively invest 10% in each tranche at same terms (not first loss) but nice to see.
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Post by df on Jun 18, 2018 21:06:51 GMT
According to a quick search on the net The firm's license ceased to have effect on 12 February 2017. and also not a registered company or LLP. Not sure what that means in practice. It means that I won't be investing! I've made a tiny contribution, but can't see how this loan is going to fill. 18% so far and 9 days remaining. I don't think 10% is a reasonable rate for this loan. Could be more successful somewhere else with larger number of investors. Not sure if HC is fit for loans like this???
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