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Post by alextaylorrrrr on Aug 10, 2016 9:04:30 GMT
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Post by Jack Barlow on Aug 12, 2016 22:13:44 GMT
alextaylorrrrrWhen I add up the value of the historical fully-funded loans listed on your website (59 separate loans to 20 borrowers) I only arrive at £13.78 million lent. Are there some loans missing from the list? I note that none of your historical loans had reached maturity at the date of the press release. Given that they all have interest-only payment schedules, I think it’s maybe a bit early to start trumpeting about zero defaults/losses. Zero defaults does suggest it’s so far so good with your due diligence, but until you’ve had some defaults and successful recoveries your security model (which is your primary USP) remains unproven. If you can report zero losses again in twelve months time (when 41 of the 59 loans should have matured) then that will be more impressive. It will also be most welcome as I’m in a number of those loans! Jack
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Steerpike
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Post by Steerpike on Aug 13, 2016 8:00:59 GMT
I make it £14.78m historical, £.3m recent, and £.3m funding, so £15.38m in total.
I have had capital returned on a number of Archover loans in the last 2 years, so perhaps completed loans are not in the list.
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Post by Jack Barlow on Aug 13, 2016 8:32:46 GMT
Steerpike (nice haircut!) On the figures, 2 x £500K of the historical projects are listed as "unfunded" so presumably these funds weren't lent out, hence my figure of £13.78M instead of £14.78M. The other 2 x £0.3M projects that you refer to weren't listed on the platform on the date the press release was issued (1/8/16). Thanks for putting me straight on the capital repayments. I agree this does suggest that the "historical" loans to which Archover are referring are just those that are currently live, implying that c.20-13.78= £6.22M of capital has already been returned. In which case, well done to Archover. alextaylorrrrr , please would you confirm the above interpretation. I can't see anything obvious on your website that states or implies that any of your loans have repaid. Can I suggest you include the repaid figure on your homepage below the "Total loans through Archover" figure that's shown? Ideally, I'd also like to see repaid loans added to the "historical" list. Jack
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Steerpike
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Post by Steerpike on Aug 13, 2016 8:41:47 GMT
Good spot, I forgot about those two loans and didn't notice the unfunded status in the listing, careless of me.
The main issue for me is that so many of the loans are for the same small group of companies, one in particular.
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Post by Jack Barlow on Aug 13, 2016 8:53:07 GMT
The main issue for me is that so many of the loans are for the same small group of companies, one in particular. For me too. Out of interest, are you able to give me a rough indication of what fraction of your loans that have repaid were to companies that have taken out further loans with Archover?
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Steerpike
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Post by Steerpike on Aug 13, 2016 9:21:42 GMT
N******s repaid in December 2015 and then immediately refinanced in to a new 1 year deal.
V** repaid in February 2016 and refinanced elsewhere.
R********* repaid in June 2016 and do not have a current loan.
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Post by Jack Barlow on Aug 13, 2016 11:18:20 GMT
Thanks Steerpike. So based on your experience, it's clear that not all of the repaid loans have simply been refinancing with another Archover loan. That's reassuring. Though presumably many of the other repaid loans were made to the main borrower that you referred to earlier and that borrower appears to be accelerating its borrowing, so all of its repaid loans have effectively just been extended. |
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Steerpike
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Post by Steerpike on Aug 14, 2016 7:51:59 GMT
Indeed, according to the current loan, that borrower has generated over £5m in loans through the ArchOver Platform and repaid £2.07m.
Quite a big egg for quite a small basket, but I know that the Archover team has a lot of confidence in this borrower.
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Post by Jack Barlow on Aug 14, 2016 14:42:17 GMT
Going through the blurb for the historical (live) Archover loans to the rest of the borrowers, it looks like £0.35M of them were taken out to refinance earlier Archover loans. So out of the £20M of Archover loans, around 6.22-2.07-0.35 = £3.8M of capital has effectively been repaid to lenders.
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Post by alextaylorrrrr on Aug 18, 2016 15:03:16 GMT
First of all thank you for your comments – we appreciate all feedback and discussion re ArchOver To confirm, our total money raised is £20,877,000. This includes 2 projects of £500,000 that were funded but did not draw down for various reasons. Please feel free to contact us on hugo.smyly@archover.com , alex.taylor@archover.com or alternatively 0203 021 8100 if you would like to see our full loan book. This data will soon be published publicly anyway – we believe in transparency. We are happy to help directly should you have any issues at all. We have already returned c£6m to our lenders and in just under 24 months. To date we have had no defaults, losses or late payments. Jack Barlow we will add the total repaid loans on our historical list on the website. Thank you again for your feedback. Our tech team are currently investigating your query regarding the historical loans section of the platform and hope to provide and update soon. Kind regards, Alex Communications Executive |
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