ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,845
Likes: 11,072
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Post by ilmoro on Aug 28, 2014 10:34:15 GMT
New loan just listed on ablrate. 24k, 3yrs @10%, 2% cashback Nice to see a new listing. Couple of points. The cashback offer is almost invisible (hidden behind a link) which seems odd if your looking to attract funds. I assume that the payment of interest is still from drawdown Thanks
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Post by ablrate on Aug 28, 2014 10:37:11 GMT
New loan just listed on ablrate. 24k, 3yrs @10%, 2% cashback Nice to see a new listing. Couple of points. The cashback offer is almost invisible (hidden behind a link) which seems odd if your looking to attract funds. I assume that the payment of interest is still from drawdown Thanks Hi Thanks, after getting feedback we sourced a smaller loan for you guys to consider. I will have something put onto the loan overview on the cashback. The interest will be paid from draw down, the instant returns feature is due next week on qualifying loans. Regards Ablrate
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Post by ablrate on Aug 28, 2014 10:44:23 GMT
Hi
I have added the 2% cash back in the title of the loan.
Thanks for the feedback.
Regards Ablrate
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,845
Likes: 11,072
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Post by ilmoro on Aug 28, 2014 11:08:19 GMT
Hi I have added the 2% cash back in the title of the loan. Thanks for the feedback. Regards Ablrate Much clearer. In general I think you need to make the basic loan terms much clearer & more prominent. Next line under loan title should state amount, period, rate, repayment terms, security, reward. At the moment, they are spread in to many places, rate at top, amount on slider, period below spiel, terms & security in spiel or docs. Also quite confusing who loan is to. Under title it says DS then immediately talks about Pluscrates. Now going to read the full detail.
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Post by ablrate on Aug 28, 2014 11:13:06 GMT
Hi I have added the 2% cash back in the title of the loan. Thanks for the feedback. Regards Ablrate Much clearer. In general I think you need to make the basic loan terms much clearer & more prominent. Next line under loan title should state amount, period, rate, repayment terms, security, reward. At the moment, they are spread in to many places, rate at top, amount on slider, period below spiel, terms & security in spiel or docs. Also quite confusing who loan is to. Under title it says DS then immediately talks about Pluscrates. Now going to read the full detail. Hi Good feedback, will look at getting that done. Ablrate
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Post by ablrate on Aug 28, 2014 11:17:11 GMT
Much clearer. In general I think you need to make the basic loan terms much clearer & more prominent. Next line under loan title should state amount, period, rate, repayment terms, security, reward. At the moment, they are spread in to many places, rate at top, amount on slider, period below spiel, terms & security in spiel or docs. Also quite confusing who loan is to. Under title it says DS then immediately talks about Pluscrates. Now going to read the full detail. Hi Good feedback, will look at getting that done. Ablrate Hi Did a quick hack and put it in the first line of the loan description. Will look at making this something that is more prominent and a better fix. Regards Ablrate
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,845
Likes: 11,072
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Post by ilmoro on Aug 28, 2014 21:41:36 GMT
Hi Good feedback, will look at getting that done. Ablrate Hi Did a quick hack and put it in the first line of the loan description. Will look at making this something that is more prominent and a better fix. Regards Ablrate Works great. Could do with an extra line above the slider so doesnt chop the line off but as a quick fix thats brilliant. Really must start charging for my advice Time for another toe I think as this one's filling fast
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Post by ablrate on Aug 29, 2014 8:42:05 GMT
Hi Did a quick hack and put it in the first line of the loan description. Will look at making this something that is more prominent and a better fix. Regards Ablrate Works great. Could do with an extra line above the slider so doesnt chop the line off but as a quick fix thats brilliant. Really must start charging for my advice Time for another toe I think as this one's filling fast Hi il moro I am on with the developers about a better solution.... Keep the advice coming... you never know, there just might be a bonus in it Regards Ablrate
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james
Posts: 2,205
Likes: 955
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Post by james on Aug 29, 2014 11:33:28 GMT
Good moves!
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shimself
Member of DD Central
Posts: 2,561
Likes: 1,170
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Post by shimself on Aug 29, 2014 11:44:12 GMT
I've posted on the Q&A; I was a bit disappointed not to see my questions immdeiately visible (which happens on TC, AC and REBS at least)
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Post by ablrate on Aug 29, 2014 12:42:11 GMT
I've posted on the Q&A; I was a bit disappointed not to see my questions immdeiately visible (which happens on TC, AC and REBS at least) Hi Sorry on that, my bad. The notifications we get on the questions did not come through, but that has been fixed. We moderate the questions initially but are integrating a 'auto approve comments' for customers we know. Regards Ablrate
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Post by wildlife2 on Aug 31, 2014 12:59:21 GMT
This new loan with 2% cashback is already over 70% full, filling swiftly......
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Post by ablrate on Aug 31, 2014 16:11:16 GMT
This new loan with 2% cashback is already over 70% full, filling swiftly...... Hi Yes we think this one will go in the next couple of days. We have a new small one coming next week..... and... drum roll please... a monster one on an aircraft... I will say no more at this stage, but it will be 12% and have cashback. Regards Ablrate
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jhma
Member of DD Central
Posts: 82
Likes: 53
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Post by jhma on Sept 2, 2014 21:09:11 GMT
Also quite confusing who loan is to. Under title it says DS then immediately talks about Pluscrates. Now going to read the full detail. Help, Ladies and Gents and Ablrate! I am now confused about how this loan (interest only to the lender as far as I see) works. It is late and I've had a beer or two. In answer to my question on the platform I received the following explanation from Ablrate: ...... We have made arrangements to receive capital and interest payments over the terms so that the capital is accumulated by Ablrate over the term and the security for the lenders gets better each month as capital exposure decreases. So as I now understand it the lessor's capital repayments are held by Ablrate but the lender will not see the capital returned till the end of the loan So, the trust relationship for these amortising capital repayments is surely not between the lessor and the lender, but Ablrate and the lender. Are these funds held in a separate client account? Will accrued capital be returned to the lenders in the event that the lessor defaults part way through the loan? or the Lessee defaults? or Ablrate itself does not prosper and thrive? Apologies if I have failed to grasp the point, but I am hoping Ablrate or the Crowd will assist....
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Post by ablrate on Sept 2, 2014 21:43:40 GMT
Also quite confusing who loan is to. Under title it says DS then immediately talks about Pluscrates. Now going to read the full detail. Help, Ladies and Gents and Ablrate! I am now confused about how this loan (interest only to the lender as far as I see) works. It is late and I've had a beer or two. In answer to my question on the platform I received the following explanation from Ablrate: ...... We have made arrangements to receive capital and interest payments over the terms so that the capital is accumulated by Ablrate over the term and the security for the lenders gets better each month as capital exposure decreases. So as I now understand it the lessor's capital repayments are held by Ablrate but the lender will not see the capital returned till the end of the loan So, the trust relationship for these amortising capital repayments is surely not between the lessor and the lender, but Ablrate and the lender. Are these funds held in a separate client account? Will accrued capital be returned to the lenders in the event that the lessor defaults part way through the loan? or the Lessee defaults? or Ablrate itself does not prosper and thrive? Apologies if I have failed to grasp the point, but I am hoping Ablrate or the Crowd will assist.... Hi I promise we do sleep occasionally... lol... When we set up the system we set it up as an interest only platform, simply because that is how aircraft loans work in the main. This, therefore has been applied to capital equipment also, however, we have had a request by borrowers to do amortising loans also, so we are building that into the system. So basically some loans will be interest only and some will be amortising (these will be indicated). On the current loan the borrower wanted to put forward an amortising loan, but as the system is not geared up for that yet we agreed that they would pay us the capital and interest and we would accumulate that over the term of the loan (as the returns would higher to investors). As we accumulate the capital the risk decreases as, in the event of default we would be holding capital that could be immediately paid to borrows. All client funds are held in a segregated client account managed by statutory trust, so the cash does not form part of our assets. If anything happened to us a third party administrator would manage the loan to its conclusion (as is the way will all peer lending platforms). Hope that helps. Regards Ablrate
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