bugs4me
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Post by bugs4me on Mar 20, 2018 16:40:02 GMT
Maybe I've got this wrong so stand to be corrected.
Looking at for example DA6 - Deal Close 2nd May. It is only when the draw down takes place which I assume will be close to the 2nd May that interest will be earned.
In the meantime - it's dead money so why not wait until close to the 2nd May. After all, Kuflink being new to the P2P scene are not exactly overwhelmed with investors at this point in time.
Also of course, it's only a couple of weeks ago that the disastrous PR 'stunt' went down like a lead balloon. The extra 1% for investors to commit to a loan offering but it did not apply to those that had already placed funds.
I think maybe someone at Kuflink needs to get 'into the heads' of investors to find out what makes us tick. Dead money and 'penalising' early investors does not turn anyone on guys.
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Post by kuflink on Mar 21, 2018 11:04:55 GMT
Maybe I've got this wrong so stand to be corrected.
Looking at for example DA6 - Deal Close 2nd May. It is only when the draw down takes place which I assume will be close to the 2nd May that interest will be earned.
In the meantime - it's dead money so why not wait until close to the 2nd May. After all, Kuflink being new to the P2P scene are not exactly overwhelmed with investors at this point in time.
Also of course, it's only a couple of weeks ago that the disastrous PR 'stunt' went down like a lead balloon. The extra 1% for investors to commit to a loan offering but it did not apply to those that had already placed funds.
I think maybe someone at Kuflink needs to get 'into the heads' of investors to find out what makes us tick. Dead money and 'penalising' early investors does not turn anyone on guys.
Hello, More often than not our deals become fully funded before the Deal Close Date - in this case May 2nd. The Deal Close Date is typically 30 days after the Deal Live Date - this is the lending window during which investors can deploy funds into an opportunity. In some cases we see deals become 100% funded in a few days and so in these circumstances the Deal Close Date is irrelevant. From the moment a deal goes live our investors accumulate interest daily and so the investment should not be considered as 'dead money' because it is indeed earning you interest before the Deal Close Date. I hope this helps to clarify how our platform works. We appreciate all feedback whether positive or negative as it helps us to understand what our investors want and expect from a P2P platform. Kind regards Rachel Southcott Marketing Director
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bugs4me
Member of DD Central
Posts: 1,841
Likes: 1,466
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Post by bugs4me on Mar 21, 2018 11:37:15 GMT
Maybe I've got this wrong so stand to be corrected.
Looking at for example DA6 - Deal Close 2nd May. It is only when the draw down takes place which I assume will be close to the 2nd May that interest will be earned.
In the meantime - it's dead money so why not wait until close to the 2nd May. After all, Kuflink being new to the P2P scene are not exactly overwhelmed with investors at this point in time.
Also of course, it's only a couple of weeks ago that the disastrous PR 'stunt' went down like a lead balloon. The extra 1% for investors to commit to a loan offering but it did not apply to those that had already placed funds.
I think maybe someone at Kuflink needs to get 'into the heads' of investors to find out what makes us tick. Dead money and 'penalising' early investors does not turn anyone on guys.
Hello, More often than not our deals become fully funded before the Deal Close Date - in this case May 2nd. The Deal Close Date is typically 30 days after the Deal Live Date - this is the lending window during which investors can deploy funds into an opportunity. In some cases we see deals become 100% funded in a few days and so in these circumstances the Deal Close Date is irrelevant. From the moment a deal goes live our investors accumulate interest daily and so the investment should not be considered as 'dead money' because it is indeed earning you interest before the Deal Close Date. I hope this helps to clarify how our platform works. We appreciate all feedback whether positive or negative as it helps us to understand what our investors want and expect from a P2P platform. Kind regards Rachel Southcott Marketing Director Thank you for responding Rachel - many platforms do not as I'm sure you're aware.
IMO, loans would fill faster without any cash drag but that's just my thinking. I also suspect that cash drag may be an aspect that is off putting many potential investors.
I'm in a hold situation with kuflink at the moment with a lower end of the scale 4 figure investment. That would increase but the cash drag is a deterrent in my case.
Anyway, not my business.
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marka
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Post by marka on Mar 21, 2018 18:17:26 GMT
Maybe I've got this wrong so stand to be corrected.
Looking at for example DA6 - Deal Close 2nd May. It is only when the draw down takes place which I assume will be close to the 2nd May that interest will be earned.
In the meantime - it's dead money so why not wait until close to the 2nd May. After all, Kuflink being new to the P2P scene are not exactly overwhelmed with investors at this point in time.
Also of course, it's only a couple of weeks ago that the disastrous PR 'stunt' went down like a lead balloon. The extra 1% for investors to commit to a loan offering but it did not apply to those that had already placed funds.
I think maybe someone at Kuflink needs to get 'into the heads' of investors to find out what makes us tick. Dead money and 'penalising' early investors does not turn anyone on guys.
Hello, More often than not our deals become fully funded before the Deal Close Date - in this case May 2nd. The Deal Close Date is typically 30 days after the Deal Live Date - this is the lending window during which investors can deploy funds into an opportunity. In some cases we see deals become 100% funded in a few days and so in these circumstances the Deal Close Date is irrelevant. From the moment a deal goes live our investors accumulate interest daily and so the investment should not be considered as 'dead money' because it is indeed earning you interest before the Deal Close Date. I hope this helps to clarify how our platform works. We appreciate all feedback whether positive or negative as it helps us to understand what our investors want and expect from a P2P platform. Kind regards Rachel Southcott Marketing Director Hi Rachel kuflinkThanks for that. Its very encouraging. However it does appear to disagree with kuflink's stance when the ability to "reserve" a loan was introduced, although I have to admit to being somewhat confused by all the different terms ("deal close date", "deal live date", "borrowers loan advance date" etc). I raised the same issue as bugs4me back at the end of last year when this feature was introduced (see p2pindependentforum.com/thread/10711/reserve-feature) and your latest statement would appear to be in contradiction to the situation then. I have cut back on putting new money into kuflink since then, so it would be good to know if I can recommence lending. Can you please confirm whether or not interest is earned from the time that I allocate money to a loan (whether or not it is filled or the borrower has drawn down yet). Thanks marka
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madpierre
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Post by madpierre on Mar 21, 2018 20:30:33 GMT
Hi Rachel kuflink, I rather like the business model of Kuflink, but I do think you have more to learn to attract supportive lenders. We like the 20% stake and reduced LTV for which we are prepared to accept lower interest - although rates are presently dipping, so I am holding off far more than previously, particularly as some of these are development dependent and for my taste should be 7%+. In addition, the "reserve" system leads me only to watch the funding level and not commit until late on, thus unnecessarily extending your funding period. The 1% extra for late lenders was a disastrous and damaging idea for "loyal" lenders and the "reserve" idea is not far behind. Offer a fair rate and pay interest from the outset and your business model may be transformed - the higher interest rate promising, default ridden P2P platforms, have lost much support and their lost millions could easily come your way  |
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jcb208
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Post by jcb208 on Mar 21, 2018 21:51:52 GMT
I agree with madpierre a fair bit of my money coming out of Lendy is going to Kuflink even though the rates are a lot less, |
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Post by ajf1985x on Mar 30, 2018 6:23:50 GMT
Hi Rachel,
I think a good solution to this would be to offer interest from the date of committing the funds but only pay the interest if the loan completes,.. an early/ loyal investor bonus, the earlier you invest in a loan, the more interest you accrue.
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oldtimer
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Post by oldtimer on Mar 30, 2018 6:48:56 GMT
kuflink I think it would also help to grow your investor base if you allowed select-invest investments into a flexible IFISA. I would certainly up my investments.
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jnm21
Posts: 441
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Post by jnm21 on Mar 30, 2018 11:11:32 GMT
kuflink I think it would also help to grow your investor base if you allowed select-invest investments into a flexible IFISA. I would certainly up my investments. 110%
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Post by kuflink on Mar 30, 2018 21:49:16 GMT
Hi oldtimer jnm21, many thanks for your input and apologies for the silence, has been a while since I've been online on the forum. We've taken your feedback on board and will keep you posted on updates. Select Invest IFISA has been something on our mind for a while. We are working on the tech integration at the moment. Kind regards, Hari |
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Post by kuflink on Mar 30, 2018 21:50:23 GMT
jcb208 thank you for your support
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nush
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Post by nush on Apr 1, 2018 9:21:31 GMT
could someone tell me if i earn interest from the day i commit to a loan or is it the day the loan goes live, right now my understanding is the second option and this is preventing me from investing further, i am confused because i have cash committed to a loan just now and it looks like i may have been paid interest.
thanks
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jnm21
Posts: 441
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Post by jnm21 on Apr 1, 2018 10:53:25 GMT
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Post by Olivia on Apr 3, 2018 11:42:58 GMT
could someone tell me if i earn interest from the day i commit to a loan or is it the day the loan goes live, right now my understanding is the second option and this is preventing me from investing further, i am confused because i have cash committed to a loan just now and it looks like i may have been paid interest. thanks Hello, I can confirm you will begin to accrue interest from the moment you invest if a loan is live. However, if you invest in one of our 'reserve' opportunities you will not begin to earn interest until the deal is live.
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