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Post by ablrate on Apr 5, 2017 19:09:14 GMT
Also the guaranteed interest is only three months, and so this can be repaid in three months. Presumably the dismantling takes 3 months and the rest of the time is just in case it takes longer to sell sufficient parts This does not seem a particularly attractive loan from Ablrate. We expect asset backed lending, but this is an interest only loan on an asset which would not be in any state to possess even before the first repayment is made. May have a little for diversity. I hope there are better loans waiting in the wings. Hi blender The loan is for 12 months, there is the potential for early repayment with a roll into another. "interest only loan on an asset which would not be in any state to possess" Of course it could be repossesed... they are valuable aviation parts.... hence the transaction. There are also personal guarantees which are replaced after $300,000 is on account. That is because what is left would be easily in excess of the amount owed. Will respond top all others on the morning. Regards Ablrate
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jonah
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Post by jonah on Apr 5, 2017 19:37:11 GMT
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elliotn
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Post by elliotn on Apr 6, 2017 2:51:05 GMT
Yes your right So presuming USD and not Hong Kong Dollar (I mention it as the company address is in Hong Kong) Security $400k = £320,800 vs loan of £331k (are they maybe borrowing an additional 10k to pay the first 10k AB fee?) EBITDA $55k = £44,110, $107,250 = £86,014, $158500 = £127,117 Borrowing Costs AB Fees 2x £20k + 10% interest £33,100 = £53,100 (or maybe 10k less if already borrowed and paid first 10k AB fee out of loan) So worst case the borrower makes a loss/breaks even I do remember container loans, purchased at 100% LTV, to potentially sell on for a profit. I hope this is not in a similar vein Will take a look at the questions in the morning... but just to clarify one point.... We are not getting 2x £20k.... 2x 10k? ie Admin/Service fees
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stevio
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Post by stevio on Apr 6, 2017 6:01:24 GMT
Will take a look at the questions in the morning... but just to clarify one point.... We are not getting 2x £20k.... 2x 10k? ie Admin/Service fees Yes sorry, 2x 10k
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Post by peerlessperil on Apr 6, 2017 6:23:59 GMT
Not entirely sure the requisite care & attention has been paid to the docs here
The marketing proposal refers to A*** A******* Ltd.
Then the term sheet is all over the place:
Lender Name: A**** A****** Ltd Borrower Name: A*** A****** Ltd Grantor: back to Al***....
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Apr 6, 2017 8:50:05 GMT
peerlessperil I posted on questions at about 6:30 last night to ask about the same. Not looked to see if reply posted yet.
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Post by ablrate on Apr 6, 2017 11:53:20 GMT
All updated...
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elliotn
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Post by elliotn on May 15, 2017 0:26:42 GMT
Property: Digital Print Company, circa £200k • Motor Stocking: Direct to Motor Company, circa £200k • Asset Finance: Brewery Equipment circa £600k • Trade Finance: Trade finance company circa £500k - £ 1mn • Waste to energy: Anaerobic digestion system circa £500k • Expected: First four are likely to begin being posted as of mid-week next week.
(Email 12/5)
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archie
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Post by archie on May 15, 2017 5:28:56 GMT
I'm still waiting for the pie as promised in the thread title "Piepline (ABL)".
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KoR_Wraith
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Post by KoR_Wraith on May 16, 2017 20:38:48 GMT
Property: Digital Print Company, circa £200k • Motor Stocking: Direct to Motor Company, circa £200k • Asset Finance: Brewery Equipment circa £600k • Trade Finance: Trade finance company circa £500k - £ 1mn • Waste to energy: Anaerobic digestion system circa £500k • Expected: First four are likely to begin being posted as of mid-week next week. (Email 12/5) ablrate Any chance detailed info will be available prior to going live?
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elliotn
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Post by elliotn on May 17, 2017 5:57:03 GMT
- Property: Digital Print Company, circa £200k
• Motor Stocking: Direct to Motor Company, circa £200k • Asset Finance: Brewery Equipment circa £600k • Trade Finance: Trade finance company circa £500k - £ 1mn • Waste to energy: Anaerobic digestion system circa £500k • Expected: First four are likely to begin being posted as of mid-week next week. (Email 12/5) Per home page next loan indicated as: Property | £500,000 | 12% Int Only | 48 Months. Looking at the pipeline list from yesterday only prop loan was print co for 200k so a wait & see .
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Post by elephantrosie on May 19, 2017 22:49:48 GMT
i thought there were going to be new loans from ablrate this week. nothing at all or have i missed them?
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elliotn
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Post by elliotn on May 20, 2017 0:01:10 GMT
Good question. ablrate, will there be an email update, I've sold a few grand of loans in prep
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blender
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Post by blender on May 20, 2017 7:59:57 GMT
Waiting for an expected new Ablrate loan is a bit like waiting for a bus in the old days. More exciting, though.
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macq
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Post by macq on May 20, 2017 8:22:06 GMT
yes- nothing like waiting for metal box that does not turn up but had my money ready since midweek & all good to go.
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