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Post by mrclondon on Oct 27, 2019 18:23:10 GMT
The loan webpage states 36 month term, and on the SM list the loan is shown as 20 months of 36 remaining.
However both the FLR pdf and the draft loan contract pdfs attached to the loan state a 24 month term (which would be 8 months remaining). proplend , can you please either correct the loan listing down to a 24 month term, or add a note to the webpage to say the loan term on the attached pdfs has been wrongly stated. This level of detail does matter, my risk analysis is quite different depending on when maturity of the loan is contractually meant to be.
Reviews of the Malvern property under its new managment seem rather mixed. Generally those for restaurant are good, with poor service the main gripe (but occasisonal notes of poor quality cuts of meat), but those for the (Malvern) B&B are very mixed with poor wifi and poor breakfasts frequently mentioned and the occaisonal gripe of surly (sp?) staff.
The first accounts for the borrowing company are due at the end of November.
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liso
Member of DD Central
Posts: 389 
Likes: 394
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Post by liso on Oct 27, 2019 19:26:28 GMT
The loan webpage states 36 month term, and on the SM list the loan is shown as 20 months of 36 remaining.
However both the FLR pdf and the draft loan contract pdfs attached to the loan state a 24 month term (which would be 8 months remaining). proplend , can you please either correct the loan listing down to a 24 month term, or add a note to the webpage to say the loan term on the attached pdfs has been wrongly stated. This level of detail does matter, my risk analysis is quite different depending on when maturity of the loan is contractually meant to be.
Reviews of the Malvern property under its new managment seem rather mixed. Generally those for restaurant are good, with poor service the main gripe (but occasisonal notes of poor quality cuts of meat), but those for the (Malvern) B&B are very mixed with poor wifi and poor breakfasts frequently mentioned and the occaisonal gripe of surly (sp?) staff.
The first accounts for the borrowing company are due at the end of November.
You're generous in your choice of words mrclondon. IMO the length of the loan term is not a detail - it is a fundamental, and discrepancies are not excusable. As you say, the loan term is one of the determining factors in deciding whether or not to invest. I am not in this loan so this one doesn't affect me, but in general these 'errors' are concerning.
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