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Post by buttchopf23 on Mar 24, 2017 16:20:50 GMT
Hello
For some months now I am investing with Linked Finance, and had Zero late payments, all good so far.
Key Facts:
+ Low default rate (1.14% per 31.12.16) + Good supply of new loans + Nice Dashboard + Autobid + 4 Years since Launch + Interest Rates from 8.5% to 11.2% (15%) + Deposits with bank wirement or debit card are free + Quarterly loanbook Report and stats
- Charges 1.2% fee from Investors - Deposit by Credit Card are charged with 2% fee - 4 free withdrawals per calendar year / each additional withdrawal costs 10 euros
Anybody else investing there? I am quite surprised this platform has not been covered here anywhere.
I wrote an article in German and English, if you are interested.
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Post by wiseclerk on Mar 24, 2017 16:24:08 GMT
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Post by gmaxkenny on Mar 24, 2017 17:47:58 GMT
I have been investing with this company since they started and have only good experiences with them in that time. In the beginning they were only open to Irish investors and they used the reverse auction method to fund their loans. Loans were very few in the first year or so but have gradually increased and now have a steady flow and are quickly filled in the new format of fixed interest auction which has seen my return drop from 13.3% to 12.8% and will fall further like most other platforms.
My stats so far are.
Total loans 265 (since I started)
Current Loans 228
Defaults 2
Late Loans 3 of which one has filed for bankruptcy I expect the other two to repay.
Most loans have personal guarantees although these have not been honoured by the two defaults I have so far. So a good platform with a varied selection of business loans very low default rate and no sharp practices to date. They give updates of late and missed payments by email and seem to keep in regular touch with problem payers.
Downsides are no secondary market and only four free withdrawal per year.
EDIT. Just to correct Buttchop23 rates are from 8.5% to 15% although not many loans above 11.2%
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Post by buttchopf23 on Mar 24, 2017 18:03:03 GMT
True gmaxkenny for the Y grades, just corrected, thanks for the hint. Thanks for sharing your extensive experiences with LF! |
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shimself
Member of DD Central
Posts: 2,561 
Likes: 1,170
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Post by shimself on Sept 26, 2017 21:38:28 GMT
I just had an email discussion with (admittedly) the head of marketing. He told me they didn't have the company's payable and receivables since end 2015, and yet somehow they think they have assessed the borrower's creditworthiness
I think that's really bad on theirr part, it's obvious companies having trouble paying their bills would like to borrow money, and may choose not to disclose their true motives because of course they will get a much worse deal (or no deal). The platform absolutely need to check for that
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