grahamg
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Lending Crowd
Loanbook
Sept 26, 2015 11:50:53 GMT
Post by grahamg on Sept 26, 2015 11:50:53 GMT
Thank you grahamg. I was just going on the old adage "If it looks too good to be true, it almost certainly is" but it is nice to have expert confirmation. I might still have a small punt if the in house bidder does not bring the rates down too far. Nice to be called an expert, which i am not. Have asked a couple of questions, got a prompt answer to my first which is good but i still don't understand why the need 30K when they should be sitting on a cash mountain. We are not being told something fundamental. Beginning to wonder if the current assets are not real (contracts invoiced but not paid for some reason ) also what the liabilities are when the don't buy anything.
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grahamg
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Post by grahamg on Sept 26, 2015 9:21:45 GMT
I'm treating Making money on the forum/Offering your details for a fee as a breach of forum rules, or requesting such. Well misread that one, thought they were just trying to start a dating subboard. Is that allowed i wonder?
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grahamg
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Post by grahamg on Sept 25, 2015 23:26:15 GMT
Complete with a question about whether or not you'd be willing to go to FC HQ to be interviewed? Or interrogated , bright lights etc !!
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grahamg
Member of DD Central
Posts: 220
Likes: 62
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Lending Crowd
Loanbook
Sept 25, 2015 22:48:58 GMT
Post by grahamg on Sept 25, 2015 22:48:58 GMT
As a mere amateur I'm looking for some expert advice/comments on a current loan, vxxxo ixxxxxi. On the face of it they look a sound company; Creditsafe score of 80, Net assets £730,760, £168,000 profit after Tax for last six months (down pro-rata against last full year - seasonal?), Total outstanding loans of £10350. However they have a credit rating of B from LC, with 7 days to go there have only been 39 bids totalling £9880 of £30,000, £8000 of which from the usual suspect. So what am I missing? My bidding finger is getting cramp hovering over the bid button. Help please The 8k i think is the in house underwriter, not a real bidder. Thats why there is about 470k available across 22 loans on the SM . Turnover is down 25% in 2015. Why do they need 30k with 730k shreholder funds, not in fixed assets so where is it. After paying off loans whats left will go nowhere. Regardless of rating does not stackup, thats why no one is interested (maybe autobidderrs who don't look at detail). why rush to bid it won't go away for 7 days.ask questions look at q&a, no answers no bid. Wait and see if it fills.
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grahamg
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Post by grahamg on Sept 25, 2015 16:51:02 GMT
Looks like there are three in the current marketplace . Accountant, Recruitment and Art.
Not saying a lot about ReBS choices for what lenders are looking for.
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grahamg
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Post by grahamg on Sept 25, 2015 16:37:30 GMT
Drop 'em a line min, I got mine the next day with no prompting. Thanks. Have done that. Just got my bonus. Did email but think it happened automatically took a day
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grahamg
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Post by grahamg on Sept 25, 2015 11:13:38 GMT
It's a big loan and the wrong time of the month too - I assume most people get paid in the next week so available lender cash is probably at a minimum around the 20-25th. However I see FC have got involved so one assumes they will get it through. Yes got funded by FC, guess they will have to prop up a lot more.
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grahamg
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Post by grahamg on Sept 25, 2015 10:50:56 GMT
Going to fail 31m to go and only 91% filled. Will be interesting to see what Floundering Counters will do
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grahamg
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Lending Crowd
Loanbook
Sept 25, 2015 10:40:43 GMT
Post by grahamg on Sept 25, 2015 10:40:43 GMT
it was not a criticism, just wondering how they are funding themselves .
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grahamg
Member of DD Central
Posts: 220
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Lending Crowd
Loanbook
Sept 24, 2015 23:21:47 GMT
Post by grahamg on Sept 24, 2015 23:21:47 GMT
Does anyone know the size of the current loanbook, numbers/Value LC provided some figures in June in this post. Maybe there have been another 4-5 loans since then. I'd guess a lot of it will be the in-house bidder/underwriter who appears to be taking 30-50% of new loans. I'd imagine they'd be keen to shift what they have in order to re-cycle their money into new loans. But given the new info we have from LC in their post today on how the SM works, I don't think this really counts against other people wanting to sell. Once loans go live you can't see the bids but my latest a "male climate sheep" bids = loan value. I think the in house bidder is called "s******r" has £18,500 in that loan at almost lowest rate (Apart from a few idiots bidding lower) Can't be FC refugees. S******r sometimes using Autobid sometimes not, bid values 2-7.5K on the current loan auctions. Based on the number and value of loans so far not sure what LC staff do for a day job.
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grahamg
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Post by grahamg on Sept 24, 2015 22:57:26 GMT
With the prospect of hordes of FC refugees (or economic migrants?) descending on Lending Crowd, me included, I wonder what the plans are to increase deal flow? With less than £1.5million loaned and less than 30 loans so far it will have to be zero to hero plan
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grahamg
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Post by grahamg on Sept 24, 2015 22:53:49 GMT
With only 12 hours to go only £27940 bid today and £63700 needed before close.
Don't think it will make it !
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grahamg
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Post by grahamg on Sept 24, 2015 18:01:13 GMT
When we assess a loan application we look at first and second exits. The first exit is the cash generated within the company to ensure that loan repayments are met. The second exit is what can be realised to assist with repayment should there be a default position, this can be the assets within the business or personal assets held by a guarantor. In the case of Floating Charges/Debentures what we do is assess the assets that are in the business, and how easy are they to realise. At the same time we consider if there is already a charge and if so where we would rank and if there would be anything left for us should it be enforced. In respect of personal guarantees we have a duty in line with the Financial Conduct Authority guidelines to ensure that a guarantor has the means to provide a guarantee, and we therefore complete a statement of assets and liabilities. Our credit assessment is based on the 100 years of experience in the Credit Team and to always remember that we are not security lenders and that cash is king. Kind regards, LendingCrowd Excellent, Inspires a lot of confidence
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grahamg
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Post by grahamg on Sept 24, 2015 17:52:01 GMT
Would like to be able to see on the loan exchange if i already have a holding.
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grahamg
Member of DD Central
Posts: 220
Likes: 62
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Lending Crowd
Loanbook
Sept 24, 2015 12:21:01 GMT
Post by grahamg on Sept 24, 2015 12:21:01 GMT
Does anyone know the size of the current loanbook, numbers/Value
Also for all the loans on the exchange there seems to be a disproportionally large percentage for sale 25-50% . Did everyone join for the cashback ?
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