Post by ablrateandy on Jan 28, 2016 21:34:07 GMT
Hello all,
The loan maturing today will repay on time. The same borrower is expected to take another loan on Wednesday for a similar amount and for a similar term. After that loan is done, it is likely that there will be no further borrowing from C******* C****** due to another loan that is likely to happen.
That loan is currently in the final stages of planning but will likely be a five year loan for £600,000. It will draw down in six tranches of £100,000 each a month apart. It is expected to pay around 15% AER. Interest will only be paid in a single maturity payment which pretty much means that if you put £100 in, you will get about £205 back at the end of year five. Funds will be lent to an Isle of Man based SPV whose primary purpose will be to protect lenders. It is not intended to operate just for the sake of operating and if the market loses its profitability we will wind up early. The owner of C******* will be involved as an agent buying and selling, hence he will be less likely to draw on his own balance sheet.
I can't give much more information but expect an update shortly.
The loan maturing today will repay on time. The same borrower is expected to take another loan on Wednesday for a similar amount and for a similar term. After that loan is done, it is likely that there will be no further borrowing from C******* C****** due to another loan that is likely to happen.
That loan is currently in the final stages of planning but will likely be a five year loan for £600,000. It will draw down in six tranches of £100,000 each a month apart. It is expected to pay around 15% AER. Interest will only be paid in a single maturity payment which pretty much means that if you put £100 in, you will get about £205 back at the end of year five. Funds will be lent to an Isle of Man based SPV whose primary purpose will be to protect lenders. It is not intended to operate just for the sake of operating and if the market loses its profitability we will wind up early. The owner of C******* will be involved as an agent buying and selling, hence he will be less likely to draw on his own balance sheet.
I can't give much more information but expect an update shortly.