elliotn
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Post by elliotn on Mar 28, 2017 17:01:55 GMT
For those that do not get all emails, we have potential lift off on some new loans imminently (notified Tue 28 March):
• Aircraft: £300k - £350k
• Expected: This week or early next
• Property: £200k
• Expected: This week
• Equipment: up to £500k
• Expected: Next week
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elliotn
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Post by elliotn on Mar 28, 2017 17:02:52 GMT
Looking forward to not paying 103% for a piece of plane!
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DiQ
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Post by DiQ on Mar 28, 2017 17:41:39 GMT
That was one badly written / formatted email, why on earth are the pipeline details in the middle of a blah about withdrawing funds?!
Me thinks David was doing something else when he clicked on send.
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littleoldlady
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Post by littleoldlady on Apr 3, 2017 20:32:22 GMT
There is a Falcon 50 Business jet for scrapping. But no mention of the LTV.
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elliotn
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Post by elliotn on Apr 4, 2017 2:25:17 GMT
Bit of bumph from the email (including conflicting times): Loan live on Wednesday afternoon at 6pm - purchase of a Falcon 50 Business jet to be dismantled at the facility at Geneva Airport. 10%, 1/4ly interest, 12 months - 6pm beyond my bedtime (but I won't be losing any sleep  ): • Aircraft: Falcon 50 business Jet for dismantling • Going Live: 6pm Thursday 6th • Loan Request: £330k (depending on the final price/exchange rate), Interest Only • Security: First charge, charge over receivables, corporate debenture • Term: 12 months • Rate: 10% |
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jimc99
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Post by jimc99 on Apr 4, 2017 4:15:09 GMT
Only been able to buy on the secondary market so far.......Is bidding a matter of fff or is there a bid limit set initially?
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elliotn
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Post by elliotn on Apr 4, 2017 4:20:11 GMT
Only been able to buy on the secondary market so far.......Is bidding a matter of fff or is there a bid limit set initially? No bid limits, typically loans last a few days. Abl have warned in the email they expect demand to be high and to have cleared funds ready. There hasn't been an airplane for a while and the loan is not too massive but there should be more than a few secs to pledge (10% 1/4ly interest may also add a few extra mins  ).
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r1200gs
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Post by r1200gs on Apr 4, 2017 8:51:30 GMT
So what is the loan actually for? To buy the plane to dismantle it? Sorry if I'm being a bit slow.
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littleoldlady
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Post by littleoldlady on Apr 4, 2017 9:14:45 GMT
So what is the loan actually for? To buy the plane to dismantle it? Sorry if I'm being a bit slow. Yes scrapping it for parts. But no LTV (yet) so difficult to assess security.
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ben
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Post by ben on Apr 4, 2017 10:04:34 GMT
Also be intersting to know how much it be worth as parts.
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r1200gs
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Post by r1200gs on Apr 4, 2017 10:32:47 GMT
Also be intersting to know how much it be worth as parts. Well, I know serviceable parts can be worth a fortune, but how much this is worth in total is a mystery to me. It's going to be interesting reading in the loan description.
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ben
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Post by ben on Apr 4, 2017 10:44:18 GMT
Also be intersting to know how much it be worth as parts. Well, I know serviceable parts can be worth a fortune, but how much this is worth in total is a mystery to me. It's going to be interesting reading in the loan description. This will be one loan were the actual value of the asset in its current form is pretty irrelevent.
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elliotn
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Post by elliotn on Apr 4, 2017 11:01:07 GMT
Well, I know serviceable parts can be worth a fortune, but how much this is worth in total is a mystery to me. It's going to be interesting reading in the loan description. This will be one loan were the actual value of the asset in its current form is pretty irrelevent. Similar to most of LfSS' then 
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stevio
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Post by stevio on Apr 4, 2017 14:18:38 GMT
Its almost like a development, where the value increases throughout the project, but in reverse! ablrate this is obviously an area where most won't have experience, so it would be good to include lots of previous worked examples of how the company has made profit from previous projects |
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blender
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Post by blender on Apr 4, 2017 14:29:09 GMT
The last one, 532 was sold for scrap but was not scrapped while we lent on it. It was interest only.
This one will see our first charge security gradually scrapped throughout the year. Presumably it is amortising. I would prefer monthly repayments. Not keen on funding scrap merchants at 10%. Will wait and see the details.
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