applets
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Post by applets on Dec 4, 2019 8:52:01 GMT
Looks like a secondary market is on the way to Unbolted (See 2DFDC5F12). Initially it would seem to be intended to help one of our favourite watch dealers who is already almost 2 months late repaying one of his loans. It may be a good move, but perhaps not if renewals become MT style rollovers.
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alanh
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Post by alanh on Dec 4, 2019 9:29:03 GMT
Not sure what you mean. Has there been some announcement about a secondary market? Where can I find this loan on sale? - it doesn't appear under the "buy now" tab.
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applets
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Post by applets on Dec 4, 2019 10:13:23 GMT
If you have 2DFDC5F12 in your overdue loans:
"These loans were issued with a maturity date of six months and are therefore technically overdue. We wish to renew these loans but we would ideally like to create a secondary market for these loans and issue them for longer periods of 24 months. Hence the delay in renewing them. We wish to get this implemented in the next two months. Please bear with us."
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alanh
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Post by alanh on Dec 4, 2019 11:05:06 GMT
Ah right. Thanks. I don't have that one but this sounds interesting.
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sd2
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Post by sd2 on Dec 9, 2019 20:56:30 GMT
Ah right. Thanks. I don't have that one but this sounds interesting. It sounds interesting to me to. It appears to be great way of dumping the large watch loans. Brill
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Post by ashwinp on Dec 10, 2019 11:15:06 GMT
I would just like to point out that the loan referred to above, although overdue, continues to pay monthly interest via direct debit. We have not renewed it yet solely because we feel the current '6-month with no secondary market' template is inappropriate for these loans which are really longer-term lines of working capital secured by a floating pool of assets. We have not made a final decision yet but the loans will be renewed in some shape or form soon.
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upperdeane
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Post by upperdeane on Dec 10, 2019 23:04:26 GMT
I would just like to point out that the loan referred to above, although overdue, continues to pay monthly interest via direct debit. We have not renewed it yet solely because we feel the current '6-month with no secondary market' template is inappropriate for these loans which are really longer-term lines of working capital secured by a floating pool of assets. We have not made a final decision yet but the loans will be renewed in some shape or form soon. ashwinp - I assume you will notify all lenders BEFORE you implement the renewal decision on this borrower, so that lenders who don't want this particular borrower in their portfolio moving forward can set their auto-lend settings to avoid lending any new funds to this business?
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