elliotn
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Post by elliotn on Mar 10, 2017 14:04:11 GMT
• Borrower: V****** S**** (Leeds) Ltd • Amount: £500,000 Max - £100,000 Min (underwritten). • Rate: 12% • Structure: Amortising (Capital and Interest paid monthly) • Term: 48 months • Security: Full debenture over business and assets, Corporate Guarantee from parent Co.
- 12% fully amortising - £260,000 of security against a £500,000 loan (min £100,000) - expand profitable strategy buying in further stock.
Full details in Borrowing Proposal, Monday 13 March at 11 am.
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elliotn
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Post by elliotn on Mar 10, 2017 14:10:22 GMT
I thought there might be a transpo between 260k security and 500k loan but the loan is up to 500k, will have to wait for the proposal Mon am to see our security.
1 year co incorporated 2016, director appears linked to the ACF loans.
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blender
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Post by blender on Mar 10, 2017 21:44:14 GMT
Thanks from those who do not receive emails. Will hold some cash for it.
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agent69
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Post by agent69 on Mar 11, 2017 9:21:47 GMT
So if it's £500k maximum I assume it will be sat on the live loans page for a while?
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hazellend
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Post by hazellend on Mar 11, 2017 9:47:37 GMT
So if it's £500k maximum I assume it will be sat on the live loans page for a while? Should have at least a few weeks to get into this one if you are interested. Looks good to me so far.
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elliotn
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Post by elliotn on Mar 11, 2017 10:21:21 GMT
So if it's £500k maximum I assume it will be sat on the live loans page for a while? Should have at least a few weeks to get into this one if you are interested. Looks good to me so far. I'm finding 260k security for a 500k max loan a bit surprising ie up to near 200% ltv (ex ACF default guarantee), looking forward to the borrower proposal
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ben
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Post by ben on Mar 11, 2017 12:09:03 GMT
Should have at least a few weeks to get into this one if you are interested. Looks good to me so far. I'm finding 260k security for a 500k max loan a bit surprising ie up to near 200% ltv (ex ACF default guarantee), looking forward to the borrower proposal Sure SS can sell list it at 8% and it will sell.
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blender
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Post by blender on Mar 11, 2017 13:48:59 GMT
Too much security breeds complacency. 200% LTV will keep Ablrate on his toes. Should be 16%, though. Looking forward to those instant returns - there will be instant returns?
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ben
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Post by ben on Mar 11, 2017 14:24:18 GMT
Too much security breeds complacency. 200% LTV will keep Ablrate on his toes. Should be 16%, though. Looking forward to those instant returns - there will be instant returns? Unless the business has a good trading name then there is no incentive for them to repay if the LTV is 200%. I would guess though when the docments are released the security will be based on how much lent to keep it at the same percentage rather then that is all the security no matter how much is lent.
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blender
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Post by blender on Mar 11, 2017 14:39:56 GMT
Yes, I was being a little silly. Ablrate would not put forward a company which did not have a good name and a proprietor with a track record of honesty and integrity. (You never know how people will behave when things go wrong). Most of FC SME loans have no formal security, LTV infinity, and most get repaid. We will know the real position of security when this one is listed.
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hazellend
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Post by hazellend on Mar 11, 2017 16:14:49 GMT
oops I read this as 260k loan with 500k security lol!
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elliotn
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Post by elliotn on Mar 11, 2017 16:21:21 GMT
Yes, I was being a little silly. Ablrate would not put forward a company which did not have a good name and a proprietor with a track record of honesty and integrity. Company does not have one year track record and proprietor has 2nd newer company in cars.
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Post by GSV3MIaC on Mar 11, 2017 17:48:07 GMT
/mod hat off
You have to hope that, having received £500k (or whatever) to buy stock, then the asset value (over which ABL has some hold) increases by ~£500k, rather than the money doing a quick flit to some other outfit beyond our ken ..
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Maestro
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Post by Maestro on Mar 12, 2017 12:33:30 GMT
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Post by vithca on Mar 12, 2017 12:41:10 GMT
Only available to subscribers unfortunately. Can you summarise?
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