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Post by overthehill on May 2, 2021 18:14:25 GMT
Some new milestones at Loanpad today: - Over £30,000,000 funds on platform.
- Average amount invested per lender > £10,000.
- Total number of loans = 73.
- Total number of lenders approaching 3,000 (actually it's 2983).
- Early access from Premium account for a 0.5% fee is now enabled (and has been for a few days).
- Still only 1% of loans by value are having their interest paid by the ICF.
Well done Loanpad. Keep up the good work. And of the >£30M on platform, £3.6M is awaiting investment. No shortage of liquidity at the moment! A small point, total number of lenders can be a powerful marketing stat but the other ones are more meaningful, what matters is active lenders and the definition of active. I open an account for every new girlfriend just for cashback but they never use it, there is 20 meaningless accounts. Hypothetically speaking of course.
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Post by Ace on May 2, 2021 19:44:38 GMT
And of the >£30M on platform, £3.6M is awaiting investment. No shortage of liquidity at the moment! A small point, total number of lenders can be a powerful marketing stat but the other ones are more meaningful, what matters is active lenders and the definition of active. I open an account for every new girlfriend just for cashback but they never use it, there is 20 meaningless accounts. Hypothetically speaking of course.
How does that work? Unless they invest £5k there is no bonus. Also, 20 girlfriends since 2018! You need to change your username 😆
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Post by overthehill on May 3, 2021 9:43:42 GMT
I thought this was a Kuflink thread when I replied ! General point is still valid e.g. the Lending Works lender count stat will stay quite high no doubt, how many accounts have been removed ?
I haven't voluntarily removed an unused P2P account yet.
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Post by Ace on May 3, 2021 13:54:45 GMT
I thought this was a Kuflink thread when I replied ! General point is still valid e.g. the Lending Works lender count stat will stay quite high no doubt, how many accounts have been removed ?
I haven't voluntarily removed an unused P2P account yet.
Yes, I agree that the number of lenders may not accurately represent the number of "active" lenders. However, the fact that the number of lenders is growing rapidly is a sign that the number of new lenders is increasing. The fact that the amount invested per lender is growing is also an indication that there may not be too many inactive accounts on Loanpad.
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Post by nooneere on May 3, 2021 16:32:54 GMT
I thought this was a Kuflink thread when I replied ! General point is still valid e.g. the Lending Works lender count stat will stay quite high no doubt, how many accounts have been removed ?
I haven't voluntarily removed an unused P2P account yet.
Yes, I agree that the number of lenders may not accurately represent the number of "active" lenders. However, the fact that the number of lenders is growing rapidly is a sign that the number of new lenders is increasing. The fact that the amount invested per lender is growing is also an indication that there may not be too many inactive accounts on Loanpad. LP is very much in its growth phase, no question, and we have to hope we don't in future get the same type of news that Kuflink investors have just had!
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Post by Harland Kearney on May 15, 2021 15:03:26 GMT
Cash levels still very high just shy of 10%, must be alot of money going into Loanpad still recently. Anybody used their ISA transfer in, how did it go?
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archie
Posts: 1,838
Likes: 1,842
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Post by archie on May 15, 2021 15:12:50 GMT
Cash levels still very high just shy of 10%, must be alot of money going into Loanpad still recently. Anybody used their ISA transfer in, how did it go? I did an ISA transfer out which was very quick. Transfer in would depend on the speed of the sending manager.
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Post by Ace on May 15, 2021 15:24:29 GMT
Cash levels still very high just shy of 10%, must be alot of money going into Loanpad still recently. Anybody used their ISA transfer in, how did it go? A friend of mine emailed a completed transfer form to Loanpad on the 9/5/21 to transfer from Nationwide. The cash left the Nationwide account yesterday, so should appear in Loanpad on Monday.
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dead-money
Rocket to the Moon
Posts: 736
Likes: 645
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Post by dead-money on May 16, 2021 7:57:44 GMT
Cash levels still very high just shy of 10%, must be alot of money going into Loanpad still recently. Anybody used their ISA transfer in, how did it go? Three transfers of freed cash from AC over last three months, all completed within seven working days.
The Simplicity of Loanpad is so refreshing compared to the complexity of AC's AAs!
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Post by birdie on May 17, 2021 7:29:58 GMT
Cash levels still very high just shy of 10%, must be alot of money going into Loanpad still recently. Anybody used their ISA transfer in, how did it go? I did a transfer in about three weeks ago, from Lending Works into Loanpad completed in 7 days. Steve
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starfished
Member of DD Central
Posts: 296
Likes: 216
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Post by starfished on May 17, 2021 20:21:20 GMT
Abundance into Loanpad, confirmed receipt of transfer request within 24hrs, transfer completed within a week... Unbolted into Loanpad, confirmed receipt of transfer request within 24hrs, transfer still waiting nearly a month on...
Timescales seem very dependent on the provider the funds are coming from
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withnell
Member of DD Central
Posts: 550
Likes: 491
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Post by withnell on May 18, 2021 15:18:54 GMT
Abundance into Loanpad, confirmed receipt of transfer request within 24hrs, transfer completed within a week... Unbolted into Loanpad, confirmed receipt of transfer request within 24hrs, transfer still waiting nearly a month on... Timescales seem very dependent on the provider the funds are coming from Agreed - I did a transfer Sainsburys Bank to Loanpad, form in Monday morning funds there by Tuesday morning - so I don't believe Loanpad can speed anything up!
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Post by overthehill on Jul 22, 2022 13:22:41 GMT
Which bank does Loanpad use for withdrawals , Wells Fargo, stagecoach not bank ? The email was prompt 3 days ago but I'm still waiting for the money.
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Post by Harland Kearney on Jul 22, 2022 18:45:59 GMT
Which bank does Loanpad use for withdrawals , Wells Fargo, stagecoach not bank ? The email was prompt 3 days ago but I'm still waiting for the money. Have you contacted support? I would do so immediately if you think your money should of arrived by now.
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Post by Ace on Jul 22, 2022 19:13:10 GMT
Which bank does Loanpad use for withdrawals , Wells Fargo, stagecoach not bank ? The email was prompt 3 days ago but I'm still waiting for the money. I presume it's Barclays since that's where our deposits go, and that's who holds the uninvested cash.
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