elliotn
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Post by elliotn on Jun 30, 2017 16:02:13 GMT
Amount: Up to £380,000 Term: 24 months (9 months minimum term) Rate: 13% - Interest Only Security: Corporate Debenture, Chattel Mortgages, Corporate Guarantee & Personal Guarantee Asset Security: £593,000 (LTV 64%) Instant Returns: Enabled
Short term bridge for phase 1 costs of farm electricity generation pending 2.4M construction loan in dd/legals, expected repayment 4-6m with 9m minimum interest retained.
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mrflush
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This is not me
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Post by mrflush on Jun 30, 2017 17:02:58 GMT
Nothing useful to post so I'll just say doesn't "Anaerobic Digestion System" sound so much better than "generate electricity and heat from farm silage".
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blender
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Post by blender on Jun 30, 2017 17:25:01 GMT
Nothing useful to post so I'll just say doesn't "Anaerobic Digestion System" sound so much better than "generate electricity and heat from farm silage". I'll see your silage and raise you slurry for 'cattle waste'. (Where there's muck there's brass; so it must be good)
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macq
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Post by macq on Jun 30, 2017 17:26:41 GMT
Nothing useful to post so I'll just say doesn't "Anaerobic Digestion System" sound so much better than "generate electricity and heat from farm silage". sounds better then some people would have put it
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macq
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Post by macq on Jun 30, 2017 17:58:06 GMT
seems like a good deal if only for 6 to maybe 9 months if it goes to plan.Notice in the documents it says the equipment and feed would be hard to remove from the site,but no mention is made of the cows so hopefully no rustlers in the area
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oldgrumpy
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Post by oldgrumpy on Jun 30, 2017 18:08:13 GMT
Seems to be the only platform where plenty of bulls**t can be a good thing!
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Post by elephantrosie on Jun 30, 2017 21:48:21 GMT
why is this filling up so quickly?
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blender
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Post by blender on Jun 30, 2017 22:13:38 GMT
Because two other loans have repaid early.
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nw99
Posts: 340
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Post by nw99 on Jul 1, 2017 5:41:01 GMT
100% filled very quickly nice
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blender
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Post by blender on Jul 1, 2017 8:17:45 GMT
Quite right magenta. I would like to think that most lenders are so discerning, and do not just look at the cash in available funds and the interest rate. New borrower is great.
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darren
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Member is Online
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Post by darren on Jul 2, 2017 10:49:43 GMT
I may have just found the flaw in my 'see how quickly it fills up' stategy!
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stevio
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Post by stevio on Jul 2, 2017 11:16:14 GMT
Nice to have a new borrower, but would like to have seen better security here (maybe the farm buildings or land)
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Post by dan1 on Jul 4, 2017 22:02:00 GMT
Anyone know why this loan is 0.457% underwritten? I make that £1737 on the £380k fully invested sum. Basically, what's the point?
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Post by ablrate on Jul 5, 2017 8:41:25 GMT
Anyone know why this loan is 0.457% underwritten? I make that £1737 on the £380k fully invested sum. Basically, what's the point? Hi ... It was pledges that were not converted.
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Post by dan1 on Jul 5, 2017 8:49:28 GMT
Anyone know why this loan is 0.457% underwritten? I make that £1737 on the £380k fully invested sum. Basically, what's the point? Hi ... It was pledges that were not converted. Thanks ablrate. I presume these were from established underwriters who are offered an increased rate to complete loans that investors don't fill. Or, perhaps some investors are able to make pledges in addition to standard investment/bids on new loans.
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