benaj
Member of DD Central
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Post by benaj on Apr 29, 2019 16:04:10 GMT
I notice an increase number of loans started in April 19 repaid pretty early, in less than a week. I suppose it doesn't really help speeding up investment queue as loans being repaid very early. 2019 stats suggests more borrowers are borrowing much shorter term.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Apr 29, 2019 16:29:05 GMT
I notice an increase number of loans started in April 19 repaid pretty early, in less than a week. I suppose it doesn't really help speeding up investment queue as loans being repaid very early. 2019 stats suggests more borrowers are borrowing much shorter term. Are they repaid early or just that you have picked up loan parts from exiting investors with only short term remaining?
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benaj
Member of DD Central
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Post by benaj on Apr 29, 2019 16:41:05 GMT
Out of the 23 completed loans acquired in April, 18 were started in April and 5 were picked up from SM.
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zlb
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Post by zlb on May 2, 2019 9:21:58 GMT
There are a few TP reviews complaining that borrower couldn't get another loan after they had repaid early. If the interest rate is high for borrowers, is it part of the overall offer of the platform, to lenders, that borrowers would want to pay off early? Without knowing what the purpose of borrowing is...
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benaj
Member of DD Central
Posts: 4,857
Likes: 1,591
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Post by benaj on May 2, 2019 10:11:32 GMT
There are a few TP reviews complaining that borrower couldn't get another loan after they had repaid early. If the interest rate is high for borrowers, is it part of the overall offer of the platform, to lenders, that borrowers would want to pay off early? Without knowing what the purpose of borrowing is... WLU only approves loans to borrowers who pass credit scoring and affordability checks in a 5 mins application. If the machine says "yes", money will be lent to borrower quickly. I don't mind borrowers repaying quickly at the moment as long as there is a steady demand for WLU loans.
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