webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Nov 10, 2014 9:30:45 GMT
Thanks for explaining 'Instant Returns'.
Next question: In an auction type loan is it just the borrower who puts an interest rate loan range? I thought I saw somewhere that lenders put a range too but now I can't find it. Do lenders select a single figure from within the borrowers acceptable range - that would make sense.
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Post by ablrate on Nov 10, 2014 9:36:19 GMT
Do we know whether this loan qualifies for 'Instant Returns'? I can't see anything that says it does, so presumably not. There's no way that this loan will fill prior to draw down, and without 'Instant Returns' even the smallest of loans will struggle. It's a good concept, a good website, I'm invested myself in the previous loan, but without adequate finance I'm afraid the business is doomed to failure. What happens if pledges don't reach double figures? Do underwriters step in? If so investors will be reluctant to commit knowing the sales on the after-market will be all but impossible whilst underwriters have 90% left to sell. Unfortunately it's a vicious circle but without Instant Returns and much smaller loans to start with I'm afraid it will never get off the ground (no pun intended). Hi Caractus Thanks for you feedback, and looking from the outside I can understand your comments, however I will have to disagree. Firstly, this loan doesn't qualify for instant returns. If a loan does qualify it will state it on the loan summary as per the United loan. Secondly, as you will see from this morning, this loan is significantly filled, and will fill within the next few days. We will be making an announcement tomorrow and all will become clear.. Our business is well capitalised, we have finished the major bulk of our platform (although it will never be 'finished, per se, and we are always tinkering!), we have a huge pipeline of business and are moving forward significantly ahead of our business plan. ...and never apologise for aircraft puns on here... I think there should be a prize for the best one! Must fly. Regards Ablrate
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Post by ablrate on Nov 10, 2014 9:49:54 GMT
Thanks for explaining 'Instant Returns'. Next question: In an auction type loan is it just the borrower who puts an interest rate loan range? I thought I saw somewhere that lenders put a range too but now I can't find it. Do lenders select a single figure from within the borrowers acceptable range - that would make sense. Hi webwiz I take it you are referring to the Secondary Market.. and if so, excellent timing! We wanted to get some feedback. Currently the auction based SM sales are based on allowing bidders to make bids at the interest rate they would be happy to receive, our system then calculates what offer a seller is given. So if a loan is paying 10% and someone is happy to get 9%, you loan will be sold at a premium. If they want to bid 11% you loan would sell at a discount (although you are under no obligation to accept offers). You may ask 'why would anyone sell at a discount?'... We feel there maybe times when you want to release capital quickly, so this is way of doing so. Also, a quick note. On a recent update, we put a limit on the amount of time you have to accept or reject offers in the SM, as some were taking taking time (mostly some we were placing!) So now, the offers stand for 5 days and then auto cancel. Feedback we would like: 1. Would you like the option to put in a floor below the 3% on bids? 2. Is 5 days too long on auto cancel? Regards Ablrate
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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
Posts: 10,900
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Post by ilmoro on Nov 10, 2014 14:52:52 GMT
ablrate Is your debit card system down again? Been trying to make deposit today. Wouldnt let me enter an amount this morning, then it just sat there when I pressed deposit on confirmation screen. Now I get an error when I go to enter card details screen. Hers the screen shot
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Post by ablrate on Nov 10, 2014 15:40:02 GMT
ablrate Is your debit card system down again? Been trying to make deposit today. Wouldnt let me enter an amount this morning, then it just sat there when I pressed deposit on confirmation screen. Now I get an error when I go to enter card details screen. Hers the screen shot Hi ilmoro Someone requested earlier that we change the payment system to accept fractional amounts, so the developers are just doing that. So it may have given an error. They should have put up a warning screen. It should be done shortly. Regards Ablrate
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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
Posts: 10,900
Likes: 11,124
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Post by ilmoro on Nov 11, 2014 1:04:39 GMT
ablrate Is your debit card system down again? Been trying to make deposit today. Wouldnt let me enter an amount this morning, then it just sat there when I pressed deposit on confirmation screen. Now I get an error when I go to enter card details screen. Hers the screen shot Hi ilmoro Someone requested earlier that we change the payment system to accept fractional amounts, so the developers are just doing that. So it may have given an error. They should have put up a warning screen. It should be done shortly. Regards Ablrate Seems OK now. Definately need a warning, particularly given statement about everything working after previous issues.
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Post by ablrate on Nov 11, 2014 10:30:58 GMT
Hi ilmoro Someone requested earlier that we change the payment system to accept fractional amounts, so the developers are just doing that. So it may have given an error. They should have put up a warning screen. It should be done shortly. Regards Ablrate Seems OK now. Definately need a warning, particularly given statement about everything working after previous issues. Hi Yep, all fixed, but lesson learned - 'quick' to a developer, apparently means two hours. Regards Ablrate
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baz657
Member of DD Central
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Post by baz657 on Nov 11, 2014 18:38:58 GMT
LX110....... You wanna spill the beans ablrate??
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Post by ablrate on Nov 11, 2014 18:57:54 GMT
LX110....... You wanna spill the beans ablrate?? Hi LOL... tomorrow, I promise. Regards Ablrate
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gb007
Member of DD Central
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Post by gb007 on Nov 12, 2014 17:19:27 GMT
LX110....... You wanna spill the beans ablrate?? Hi LOL... tomorrow, I promise. Regards Ablrate Did you mean "imminently" ?! We await your announcement with anticipation!
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Post by ablrate on Nov 12, 2014 18:12:56 GMT
Hi guys
I am on my mobile so cannot add a link. If you head over to Crowdfundinsider or Altfi you will see the full announcement but basically the Synthesis Fund is investing $20 million through us in the next 12 months. They have invested £2.1 million this month.
:-)
Regards Ablrate
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gb007
Member of DD Central
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Post by gb007 on Nov 12, 2014 18:29:16 GMT
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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
Posts: 10,900
Likes: 11,124
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Post by ilmoro on Nov 12, 2014 19:44:34 GMT
Congratulations ablrate. Hopefully this will mean a larger & quicker loan pipeline
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Post by ablrate on Nov 13, 2014 9:40:47 GMT
Congratulations ablrate. Hopefully this will mean a larger & quicker loan pipeline Thanks guys Couldn't have done it with your input, genuinely.... Regards Ablrate
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Nov 13, 2014 13:16:00 GMT
Congratulations! I'm new to the platform but have been impressed so far,and this sounds very positive for upcoming opportunities.What with Assetz Capital seemingly hitting a bit of a brick wall and Saving Stream substantially changing its model, if you keep the opportunities coming I'll continue the diversification of my funds.
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