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Post by martinde21 on Nov 4, 2017 13:25:35 GMT
Hugo? The credit insurance is AA2 I think. The debt structure looks OK to me for a 1 unit nibble.
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m2btj
Member of DD Central
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Post by m2btj on Dec 11, 2017 12:23:52 GMT
This loan was paying 8.5% in November & today's offering has dropped to 6.25%. I didn't like the financials at 8.5% interest let alone risk my cash at 6.25%. The new loan is slow to fill & I'll be watching its progress with interest.
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Steerpike
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Post by Steerpike on Dec 11, 2017 13:13:15 GMT
Previous loans were bespoke and now all are S&I hence the lower rate, I'm sure it will fill quickly.
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Post by stevepn on Dec 11, 2017 15:36:00 GMT
Previous loans were bespoke and now all are S&I hence the lower rate, I'm sure it will fill quickly. I think the previous loans that were bespoke are now S&I.
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Post by hugoarchover on Dec 12, 2017 13:17:31 GMT
This is correct.
All U**********o Limited loans were originally posted to the platform as Bespoke loans.
With the successful removal of their overdraft facility, leaving ArchOver with the first charge, investments are now Secured & Insured. Interest rates will remain unchanged for the period of the loan.
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m2btj
Member of DD Central
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Post by m2btj on Dec 15, 2017 15:23:00 GMT
Previous loans were bespoke and now all are S&I hence the lower rate, I'm sure it will fill quickly. 74.5% funded with 9hrs to go. Not a good idea to float this with two other loans. Will it cross the line?
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Post by dharm999 on Jan 6, 2018 21:49:57 GMT
One of my gripes with Archover is that the financial info is frequently wrong. Basic checking would prevent that, so it is easily prevented. On the latest loan for this borrower the forecasts for 2017 and 2018 are significantly worse than on previous loans, reason for 2017 being that trading deteriorated in the last quarter. Why isn't this kind of information more transparent? I had to ask the question to find out out why.
I like Archover, majority of my P2P loans are with them, but basic mistakes or missing important info is making me think twice about the amount I invest with them.
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registerme
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Post by registerme on Jan 8, 2018 16:35:07 GMT
hugoarchover, as a relatively new lender on Archover I'd be interested to see your response to dharm999's comments above..... RM
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Post by hugoarchover on Jan 9, 2018 16:19:16 GMT
One of my gripes with Archover is that the financial info is frequently wrong. Basic checking would prevent that, so it is easily prevented. On the latest loan for this borrower the forecasts for 2017 and 2018 are significantly worse than on previous loans, reason for 2017 being that trading deteriorated in the last quarter. Why isn't this kind of information more transparent? I had to ask the question to find out out why. I like Archover, majority of my P2P loans are with them, but basic mistakes or missing important info is making me think twice about the amount I invest with them. Hi dharm999 All financial information is scrutinised through a detailed validation/verification process that is part of our wide reaching credit analysis/due diligence. Unfortunately, and thankfully only occasionally, mistakes have been made in the publication of this data onto the platform. This usually occurs as a result of incorrect data being published by the Borrower or between credit and the platform team where some incorrect data has been copied. Where this has happened we have picked up the issue quickly and always made sure we let lenders know. They can always change their minds through the 14 day cooling off period if they so wish. We have also changed some of our processes to ensure this does not happen again. On the loan in question, we have tried to provide commentary around the changes in the financials that are seen in this project compared to earlier projects. The business reforecast its projections before this loan went live and these were included to ensure that lenders had access to the most up-to-date information available. There is a trade-off between providing too much information that a lot of users don’t require and enough information for those who like to understand more about a company. For those in the latter camp we maintain and open communication policy (phone/chat/email) for Lenders to ask more questions if they wish.
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Post by hugoarchover on Jan 9, 2018 16:23:10 GMT
hugoarchover , as a relatively new lender on Archover I'd be interested to see your response to dharm999 's comments above..... RM Ditto. I'd also like to know more about Archover's policy on launching loans. Loan 6297 has been fully funded since 5 Dec, not drawn down and no one's earning any interest, thus making a mockery of the claimed interest rate. Yet, Archover have subsequently managed to launch 3 additional loans for the same company so there are even more opportunities to not be earning interest. Not impressed. hugoarchover Hi hoyAll lenders in this project were emailed before Christmas explaining the situation and the email states that loan 6297 will be back dated to the date it was supposed to draw down so that no lenders lose out on any interest. Until the funds are dispersed we are unable to draw the loan down on the platform. We can only apologise for your frustrations and ensure you that we are equally frustrated by the delay but believe this should be resolved in the coming days.
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Steerpike
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Post by Steerpike on Jan 9, 2018 16:24:19 GMT
For those in the latter camp we maintain and open communication policy (phone/chat/email) for Lenders to ask more questions if they wish. This is absolutely my experience, I have often raised questions and they have always been answered in a relevant and timely fashion, albeit not always timely enough for me to grab a part of the loan before it has gone (presumably to those in the former camp).
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