jimc99
Member of DD Central
Posts: 284
Likes: 115
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00363
Aug 7, 2016 2:37:44 GMT
Post by jimc99 on Aug 7, 2016 2:37:44 GMT
Made my first investment in this loan. It is fully funded but have no idea if it's started paying interest?
Love to lend against more invoices in the UK but they seem a bit scarce. Anyone think it will grow soon?
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Post by buttchopf23 on Aug 7, 2016 8:17:48 GMT
they hired new sales people and are keen on getting it going. if the estonian development with the invoices can be copied, then we will see a serious uptick. i think there will be a lot more opportunities in the next months.
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Post by buttchopf23 on Aug 7, 2016 13:47:48 GMT
on earning interest: it should earn you interest from the moment of the end of the auction for 28 days in this case, if paid on the due date. if not, penalties could occur.
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00363
Aug 7, 2016 15:39:03 GMT
Post by buttchopf23 on Aug 7, 2016 15:39:03 GMT
and an example for interest calculation in this case, assumin gbp 100 invested:
100 x 0.14 ÷ 365 × 28 = GBP 1.07 in interest.
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00363
Aug 8, 2016 7:02:24 GMT
Post by kristjan on Aug 8, 2016 7:02:24 GMT
Made my first investment in this loan. It is fully funded but have no idea if it's started paying interest? Love to lend against more invoices in the UK but they seem a bit scarce. Anyone think it will grow soon? Hi, that's a good question. buttchopf23 is spot on. The auction will start paying interest as soon as the timer runs out and the auction is fully funded. However, the auction will remain in the 'funded' state until we receive confirmation from the buyer (confirming that they've received the goods/services and are happy with the quality, this is to eliminate disputes). As soon as the confirmation is in, we transfer the funds over to the seller and the auction will go from 'funded' to 'collection' status.
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00363
Aug 8, 2016 7:06:31 GMT
Post by kristjan on Aug 8, 2016 7:06:31 GMT
and an example for interest calculation in this case, assumin gbp 100 invested: 100 x 0.14 ÷ 365 × 28 = GBP 1.07 in interest. That's correct.
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