Shojin

I've only been with shojin for about 6 months, so don't have any personal results to comment on yet. I've found the platform to be very professional, approachable and helpful. I'd put the platform at the higher risk end of the P2P curve as they mainly deal in second charge/mezzanine loans and preferred equity, but their projected returns do seem to adequately compensate for the risk.

I've found their due diligence, as reflected in their Investor Memoranda, to be a cut above that provided by other platforms. There's plenty of detail, including well presented and comprehensive information on the project finances. The staff have been knowledgeable and helpful in explaining points that I didn't understand. 

They claim to be profitable in 2020/2021 to the tune of about £300k EBITDA, and are expecting this to increase considerably this year. 

I'm now invested in 5 of their projects (including their Series A equity raise, so can't be considered to be impartial). Seasoned investors won't learn much from the "masterclass" webinars, but I find them to be well worth watching for an insight into the platform's current thinking. Jatin is a great salesman, but it's also clear that he has a thorough understanding of the developments and associated finance. He's very open in his answers in the following Q&A sessions. 

All in all I've been very impressed, though that's just the opinion of an experienced, but strictly amateur, investor.

One thing to note is that they are not 36H compliant, so any losses can't be offset against profits elsewhere (at least that's how I understand it).

I found the webinar to be very informative, and very much welcome the addition of an SM to the platform. 

The SM will allow trading at discounts and premiums (to be negotiated between the two parties). More importantly for those that wish to get involved but don't wish to commit to a minimum of £5k per loan, the SM will allow smaller trades. As usual, it will be free to buyers; with the seller paying a 1.5% fee (subject to a £50 minimum). Clearly, the £50 minimum will discourage very small trades. 

It's expected to go live in a couple of weeks. 

#Ch@dwell He@th, London loan launch
@14% over 20 months.

Whilst Capitalrise term their offering 'deep discounted bonds' Shojin's document terms theirs a 'bond'.

1. As Shojin's bonds typically roll up the interest and pay it on maturity, similar to those issued by Capitalrise, are Shojin's bonds also effectively a 'deep discounted bond'?

2. From a lender perspective are then any advantages to investing via a 'bond' structure rather than through a 'deep discounted bond', when both roll up the interest and pay it on maturity?