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Post by ablrateandy on Sept 16, 2015 11:00:44 GMT
Sorry. £1000 or more - as always, website prevails.
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arbster
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Post by arbster on Sept 16, 2015 11:05:00 GMT
Sorry. £1000 or more - as always, website prevails. Just to check, is an aggregate investment of £1000 eligible also?
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Post by ablrate on Sept 16, 2015 12:00:05 GMT
Sorry. £1000 or more - as always, website prevails. Just to check, is an aggregate investment of £1000 eligible also? Hi arbster Yep - an aggregate of £1000 or over qualifies. Regards Ablrate
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shimself
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Post by shimself on Sept 16, 2015 12:56:17 GMT
With the figures limited to end Dec 14, which are just terrible, this is more like an equity offering than a loan.
Sales were budgeted to be 2M+ and actually was just one unit 50K and. In fact the only element that was to budget was the 600K R&D which, it seems, hadn't produced a saleable product and was easily a year behind. The whole thing looks to me like a company more interesting in inventing than selling. And yes the boss is the inventor*
The physical security is prototypes! We are promised cross heart and hope to die they can afford it PG but not a charge. A number of people here can show their bruises from similar offerings on other platforms.
Unless we get 2015 figures which show a dramatic change of fortune (yes I have read the proposal document so maybe there are such figures, but their absence makes me doubt it), I'm outer than an outy thing on an outy day (and/or Elton John).
It gives me big doubts about the platform if this is the best we can get. What has happened to the aeroplanes?
* I'm allowed to say this I was an "inventor" of sorts and also the boss.
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blender
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Post by blender on Sept 16, 2015 13:55:01 GMT
With the figures limited to end Dec 14, which are just terrible, this is more like an equity offering than a loan. Sales were budgeted to be 2M+ and actually was just one unit 50K and. In fact the only element that was to budget was the 600K R&D which, it seems, hadn't produced a saleable product and was easily a year behind. The whole thing looks to me like a company more interesting in inventing than selling. And yes the boss is the inventor* The physical security is prototypes! We are promised cross heart and hope to die they can afford it PG but not a charge. A number of people here can show their bruises from similar offerings on other platforms. Unless we get 2015 figures which show a dramatic change of fortune (yes I have read the proposal document so maybe there are such figures, but their absence makes me doubt it), I'm outer than an outy thing on an outy day (and/or Elton John). It gives me big doubts about the platform if this is the best we can get. What has happened to the aeroplanes? * I'm allowed to say this I was an "inventor" of sorts and also the boss. When you speak of Sir Elton Hercules John you mean the post 1988 version, rather than the previous version on a tortuous journey towards the exit?
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Post by ablrate on Sept 16, 2015 13:58:22 GMT
There are certain commercially sensitive issues when issuing documents on a public forum, or even posting for download on the platform itself and the management accounts have details of clients. We have to balance what we can show against commercial interest, however we will see if it is OK to upload to the platform.
We have seen the order book and current state of play, prepared by PwC, and have no reason to dispute those orders to very large businesses, the people behind the business are also extremely credible. The principals have a large amount of skin in the game, which has not been capitalised for reason of access to grants and we have structured this an amortising loan over term for further security, with a charge over the assets and the directors guarantees. We believe the rate represents the risk.
We have seen many loans elsewhere that are debt yields with equity risk (don't get ablrateandy started on that!), we don't believe this is in the same bracket as that, but as always shimself, you don't pull your punches and we appreciate your feedback as it gives balance for people to make a decision, and we feel it is extremely important for people to make up their own minds based on information provided on the platform and the opinion of other lenders such as yourself.
Regards Ablrate
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jonno
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nil satis nisi optimum
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Post by jonno on Sept 16, 2015 14:06:01 GMT
Maybe someone could set up a poll: Is shimself singing Your Song, or is he just a Candle in the Wind?
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blender
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Post by blender on Sept 16, 2015 15:03:45 GMT
I rather think of shimself as Rocket Man (or Rocket LGBT without making assumptions).
Actually I think that shimself has done Ablrate a favour here by airing questions which many will ponder. In particular, although the loan offer looks good for a secured loan, can it be shown that the value of the asset security is independent of the value of the company? If the fortune of the company depends on a bespoke product and that bespoke product is also the security then it can tend towards an equity risk with lending rates (elsewhere there was a pile of designer jeans). If the borrower can address the issues raised satisfactorily (not just assurances) then that could provide a boost for this loan. I know that I personally have not decided yet and one issue is the value of the security compared with, say, property or indeed aircraft.
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Post by meledor on Sept 16, 2015 15:41:11 GMT
My thoughts are similar to shimself. I looked at this last week and wasn't convinced so decided to leave it for the moment.
The documentation looked haphazard and needs pulling together into a proper information pack. Without breaching confidentiality more information could surely be supplied on prospects/financial forecasts. The lack of any financials beyond Dec 2014 is a concern. What is the actual progress in 2015 with the order "pipeline with a probability weighted value of £4.7m" and forecast sales of £2.7m? I am guessing the manufacturing cost of these units is pretty much the same or even lower than the loan value. Overall I got the impression from the research I did that the concept has been developed ready to go for a couple of years but despite the company being very good at collecting awards and tombstones it has stuggled to get off the ground in terms of sales.
I would love to be proved wrong so I could invest - but I would like to see more evidence than is currently available
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shimself
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Post by shimself on Sept 16, 2015 15:44:59 GMT
I rather think of shimself as Rocket Man I'll tell the OH
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paulgul
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Post by paulgul on Oct 1, 2015 10:25:20 GMT
What will happen to this loan if it doesn't get filled after the given period (8 days from today), will it get cancelled, go ahead at the reduced amount or just wait until it is filled.
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Post by ablrate on Oct 1, 2015 10:27:44 GMT
What will happen to this loan if it doesn't get filled after the given period (8 days from today), will it get cancelled, go ahead at the reduced amount or just wait until it is filled. Hi It will be filled, although its not underwritten we have some investors who will be taking the balance left. Regards Ablrate
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paulgul
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Post by paulgul on Oct 1, 2015 10:28:33 GMT
What will happen to this loan if it doesn't get filled after the given period (8 days from today), will it get cancelled, go ahead at the reduced amount or just wait until it is filled. Hi It will be filled, although its not underwritten we have some investors who will be taking the balance left. Regards Ablrate Ahh, that's good news
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james
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Post by james on Oct 1, 2015 14:28:45 GMT
Or to put that a little differently: Ablrate has clearly been asking the really heavy hitters to hold back and not buy everything that they offer immediately, to help the broader P2P business to grow. Which is very sensible and good for the rest of us even if there are occasional excess demand issues even from us.
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Jan 15, 2016 20:00:46 GMT
Got not one but 2 emails today about New Comment on that loan. I thought - something important happened. Usually that means: delayed payment, default or worse.
So after hurrying up to the site and clicking 10 times from my Dashbord to my loans to loan and then comments what do I see? Nothing really important.
Why not make our lives easier and a) Put the comment in the email b) or at least direct link to comments page for that loan?
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