Looks like the owners are cashing in at a good time - sales dipped 16% last year and are not expected to recover until 2020 despite the anticipated business the new owner will bring and coming ahead of potential political/economic uncertainty over the loan period.
Key business specific risk seems to be addressed - success of the current business is tied into the intangibles of the current owners ie knowledge, connections and they remain aligned with the success of the business by deferred and performance based consideration and minimum service contracts.
Am teeing this up as my first PM dabble but can't make the evening launches, anyone care to hazard a guess as to how long this might take to fill?
Pre-edit - haven't mustered the confidence to post on VIP yet and am asking for some goodwill as there would appear to be a rookie Q&A on this loan too!
Post by captainconfident on Dec 23, 2017 11:11:36 GMT
No replies to this post as yet, but it doesn't mean you're unloved, elliotn. I too occasionally monitor but don't post on the VIP forum. TC must surely be classed as one of the major p2p sites, but their loans dodge the scrutiny of our independent experts here, which I regret.
TC is also of interest can be seen as a mature platform, ie as many loans are now at maturity as are being launched, so the rose tinted period is over and the reality of the platform's performance can be assessed and perhaps compared to AC and Lendy. Further, TC's UI is opaque most lenders and I believe only pikestaff really understands fully how it works. The more the esteemed Mr. p. can be drawn on the matter, the happier I'd be.
I deposited before start of business Fri 22 Dec but looking at one of the Q&A TC were already on their holidays (nice, although less service than my other platforms) so haven't been able to bid. I also have some bids that have lost out in auctions tieing up capital - will these be released when they're back in the office manually or do I have to wait till the end of the auction? Thanks.
I'm pleased to see that a few people have stuck their toes in to TC to beat the fees deadline. Don't be afraid of the VIP forum, nobody will bite your hand off for asking newbie questions. I don't routinely monitor the TC sub-platform here because it's historically been very quiet.
TC have a two working hour service standard for processing deposits. The office closed at 13:00 on Friday, but deposits received up to 12:00 should have been processed. Per TC: "Deposits received after 12 noon on Friday 22nd December will be credited to investors accounts on Wednesday 27th December 2017."
The auctions for these two loans close at 10:30 and 10:45 on Wednesday 27th, which may well be too soon for deposits made after Friday morning, given that office hours start at 9:00 and underwriters have an annoying habit of filling loans before the scheduled close. You will see there's a question about this on the Q&A, which did not get a good answer.