Investor
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Post by Investor on Jul 15, 2014 11:03:45 GMT
Just looking at the rate of loans coming through on the platform, 3 in May, 0 in June, and only 1 so far in July. Anyone have any views on whether we should anticipate a seasonal demand for loans on the SS website. Not a marine type myself however as a layman's view would think it likely that should I require to re-capitalising an investment on a boat, and given that I would not have access to the boat throughout the length of the loan, I would be far more likely, situation permitting, to enjoy the asset during the summer and look to realising the loan in late autumn. If any sailor types out there can add to these thoughts it would be appreciated so I can plan a strategy for loans/platforms for the rest of the year. This is of course assuming all other platforms do not have any significant seasonal adjustment other than traditional high-days and holidays. Separately the new savingstream T-shirts are now in stock as per the many requests I have received. Have had to leave the logo off to avoid copyright infringements but they will be available in sizes s,m,l,xl, and 6xl from all leading high street clothing retailers (except Selfridges). I anticipate savingstream also supplying all new investors with one as part of their platform welcome pack.  |
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 15, 2014 11:30:31 GMT
I'm quite adamantly NOT a marine type, so can't give a proper view on this, but I was lending with SS throughout the past winter and I can say that there were a good stream of boaty loans available during that time. In fact just the other day I too was pondering the recent paucity of boaty loans here at the moment, and I did conclude to myself that it was probably because it's summer.
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j
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Penguins are very misunderstood!
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Post by j on Jul 15, 2014 21:09:23 GMT
Just looking at the rate of loans coming through on the platform, 3 in May, 0 in June, and only 1 so far in July. Anyone have any views on whether we should anticipate a seasonal demand for loans on the SS website. Not a marine type myself however as a layman's view would think it likely that should I require to re-capitalising an investment on a boat, and given that I would not have access to the boat throughout the length of the loan, I would be far more likely, situation permitting, to enjoy the asset during the summer and look to realising the loan in late autumn. If any sailor types out there can add to these thoughts it would be appreciated so I can plan a strategy for loans/platforms for the rest of the year. This is of course assuming all other platforms do not have any significant seasonal adjustment other than traditional high-days and holidays. Separately the new savingstream T-shirts are now in stock as per the many requests I have received. Have had to leave the logo off to avoid copyright infringements but they will be available in sizes s,m,l,xl, and 6xl from all leading high street clothing retailers (except Selfridges). I anticipate savingstream also supplying all new investors with one as part of their platform welcome pack. One heck of a promotion & business venture if SS decided to deliver one shirt to each member & spread the word about the site
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Vero
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Post by Vero on Jul 15, 2014 22:42:52 GMT
I'm quite adamantly NOT a marine type, so can't give a proper view on this, but I was lending with SS throughout the past winter and I can say that there were a good stream of boaty loans available during that time. In fact just the other day I too was pondering the recent paucity of boaty loans here at the moment, and I did conclude to myself that it was probably because it's summer. Hmmm... I wonder if expanding to a Southern Hemisphere branch office is on the agenda? Corner the seasons!
(I figure if you don't use your boat in summer, when do you use it? Annd conversely, when it's locked up and/or in dry dock over the winter, why not give Lendy custody and borrow some funds on it?)
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mikes1531
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Post by mikes1531 on Jul 16, 2014 2:31:25 GMT
I wondered about seasonality a number of months ago. I asked the question in another thread ... One question still outstanding is the seasonality of Lendy's business. As I wrote before, "In the depth of winter I don't suppose it's a big hardship for a boat owner to forgo access to their boat, but I'd expect the situation to be very different in the summer. Will there be people wanting to borrow against their boats in the spring if it means they can't use them during the height of the boating season?" Does Lendy have enough experience, or access to info from other marine pawnbrokers -- are there any? -- to be able to comment on this? From a SS investor's point of view, if money invested now will end up coming back in the spring and there aren't likely to be other loans to invest in at the time because the business goes slack over the summer, then that's something to know in advance rather than being surprised by a bunch of paid off loans and having to 'park' the money elsewhere until business picks up again in the autumn. ... and the response I got was ... Marine pawnbroking is a relatively new concept. As far as we are aware Lendy Marine is the only company specialising in it. Borro (the UK's largest online pawnbroker) usually pass their marine leads directly to Lendy. Since Lendy has only been trading for a little over a year, we do not have a wealth of seasonal data to drawn upon. We can understand people's concerns over seasonality but have generally found that if a customer wants to pawn their boat at a rate of 4%/month then it is because of a reason greater than purely the fact that it is the winter and they are not using it. It is usually because of a business necessity or bridging requirements that could occur any time during the year. There are also other factors such as how much Lendy spends on marketing as to how many loan enquiries it receives. Lendy it also going to be launching separate websites specialising in the classic/prestige car sector plus aviation sectors to increase and diversify the assets that it lends against. It doesn't look like the foray into auto and airplane loans has been very successful so far. I remember seeing one car loan, but that's all. As for... Annd conversely, when it's locked up and/or in dry dock over the winter, why not give Lendy custody and borrow some funds on it?) Because the APR is about 50%? |
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jonno
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nil satis nisi optimum
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Post by jonno on Jul 16, 2014 9:14:50 GMT
I can't believe J isn't a "marine type" and surely he always knows what's happening in the Southern Hemisphere office?
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 16, 2014 9:52:46 GMT
I wondered about seasonality a number of months ago. I asked the question in another thread ... One question still outstanding is the seasonality of Lendy's business. As I wrote before, "In the depth of winter I don't suppose it's a big hardship for a boat owner to forgo access to their boat, but I'd expect the situation to be very different in the summer. Will there be people wanting to borrow against their boats in the spring if it means they can't use them during the height of the boating season?" Does Lendy have enough experience, or access to info from other marine pawnbrokers -- are there any? -- to be able to comment on this? From a SS investor's point of view, if money invested now will end up coming back in the spring and there aren't likely to be other loans to invest in at the time because the business goes slack over the summer, then that's something to know in advance rather than being surprised by a bunch of paid off loans and having to 'park' the money elsewhere until business picks up again in the autumn. ... and the response I got was ... Marine pawnbroking is a relatively new concept. As far as we are aware Lendy Marine is the only company specialising in it. Borro (the UK's largest online pawnbroker) usually pass their marine leads directly to Lendy. Since Lendy has only been trading for a little over a year, we do not have a wealth of seasonal data to drawn upon. We can understand people's concerns over seasonality but have generally found that if a customer wants to pawn their boat at a rate of 4%/month then it is because of a reason greater than purely the fact that it is the winter and they are not using it. It is usually because of a business necessity or bridging requirements that could occur any time during the year. There are also other factors such as how much Lendy spends on marketing as to how many loan enquiries it receives. Lendy it also going to be launching separate websites specialising in the classic/prestige car sector plus aviation sectors to increase and diversify the assets that it lends against. It doesn't look like the foray into auto and airplane loans has been very successful so far. I remember seeing one car loan, but that's all. Gosh - I'm normally good at remembering past discussions, but in this case it had completely gone from my mind. Your return to the forum turns out to be rather timely in this case  Yes, I've only got the one car loan and I don't remember any others closing. The push into PBLs has obviously taken the place of the missing cars and planes - obviously they aren't to everbody's taste, but at least they are there to soak up returns (for now).
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j
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Penguins are very misunderstood!
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Post by j on Jul 17, 2014 16:44:48 GMT
It's gone ever so quiet on the SS front. That, coupled with the slow activity on AC are causing me withdrawal symptoms.  |
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Jul 17, 2014 17:30:34 GMT
It's gone ever so quiet on the SS front. That, coupled with the slow activity on are causing me withdrawal symptoms. Yes - I had momentary excitement of sorts this afternoon when a loan part sale went a bit wrong (no, it wasn't a boaty one that I didn't tell you about! It was a PBL). It all disappeared from the loans for sale, but only some of it turned up against my loan part. SS, as ever, got it sorted pretty quick though. So yes, back to the snooze............... 
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j
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Penguins are very misunderstood!
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Post by j on Jul 17, 2014 18:35:34 GMT
It's gone ever so quiet on the SS front. That, coupled with the slow activity on are causing me withdrawal symptoms. Yes - I had momentary excitement of sorts this afternoon when a loan part sale went a bit wrong (no, it wasn't a boaty one that I didn't tell you about! It was a PBL). It all disappeared from the loans for sale, but only some of it turned up against my loan part. SS, as ever, got it sorted pretty quick though. So yes, back to the snooze............... You got me all excited for a second there ramblin rose then brought me crashing down when you said it wasn't a boaty loan....oh well, I'll join you in (zzz)ing
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