nw99
Posts: 340
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Post by nw99 on Nov 14, 2018 17:53:06 GMT
99.8 offered but restricted to 100 I thought Maximum 100% Many thanks
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Post by elephantrosie on Nov 17, 2018 7:51:07 GMT
what was the problems with these two loans? sorry i missed out on the news
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blender
Member of DD Central
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Post by blender on Nov 17, 2018 8:44:56 GMT
what was the problems with these two loans? sorry i missed out on the news They were to be repaid with an injection of funding from an equity partner, from the source which caused the SPL to be repaid (grrr!). However, it seems that these further funds have been made conditional on performance targets, and the borrower is having to repay these loans through the completion of their underlying loans as lender. Interest will be paid for up to a year at a penalty rate, with ad-hoc repayments of principal, presumably as the underlying loans are completed. We are told the security is good.
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elliotn
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Post by elliotn on Nov 17, 2018 11:07:32 GMT
what was the problems with these two loans? sorry i missed out on the news They were to be repaid with an injection of funding from an equity partner, from the source which caused the SPL to be repaid (grrr!). However, it seems that these further funds have been made conditional on performance targets, and the borrower is having to repay these loans through the completion of their underlying loans as lender. Interest will be paid for up to a year at a penalty rate, with ad-hoc repayments of principal, presumably as the underlying loans are completed. We are told the security is good. That sounds like an opportunity to gain exposure to some higher yielding loans with ad hoc amortisation allowing for periodic de- risking . Disclosure - I am not in these loans.
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blender
Member of DD Central
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Post by blender on Nov 17, 2018 13:58:14 GMT
We here will not be selling our modest holding at 100% - not yet .
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blender
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Post by blender on Dec 10, 2018 11:31:22 GMT
Loan 42 is not trading. Attempts to buy the offers result in an error message.
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Post by ablrate on Dec 11, 2018 13:17:58 GMT
Loan 42 is not trading. Attempts to buy the offers result in an error message. Fixed
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nick
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Post by nick on Dec 14, 2018 18:10:37 GMT
Loan 42 is not trading. Attempts to buy the offers result in an error message. Fixed ablrate - I'm not sure if this was the same issue as before, but attempting to purchase offers in loan 42 is throwing up the following error:"No amount could be traded. Reason: The value of Investment Amount must be 0 or more."??
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victors
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Post by victors on Dec 14, 2018 18:33:42 GMT
Same message here as well.
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blender
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Post by blender on Dec 14, 2018 20:55:13 GMT
That is the same issue. It was fixed for me, but obviously it has not stayed fixed.
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Post by ablrate on Dec 17, 2018 9:46:08 GMT
We will take a look now
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blender
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Post by blender on Dec 17, 2018 10:57:00 GMT
Thanks. Still cannot buy.
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Post by ablrate on Dec 17, 2018 12:12:19 GMT
Thanks. Still cannot buy. It should be OK now. basically with the adhoc capital payments we will have to pause the market on each payment date, to reset offers.
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blender
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Post by blender on Feb 8, 2019 21:59:30 GMT
More capital repayment made today, together with penalty interest at 16%, thanks. Just to say that I am most impressed with the way that these loans have been handled. This borrower would have run rings around most platforms.
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Monetus
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Post by Monetus on Apr 8, 2019 15:02:25 GMT
This one about to be wrapped up - a well-handled loan by Ablrate.
"LOAN FULL & FINAL SETTLEMENT #1000042 & #1000044 M** F****** Limited
After a requirement to extend the loans in October 2018, at the Borrowers' request, Ablrate agreed to an extension for a maximum of 12 months but with enhanced interest rates for lenders (increased from 12% to 16%) and ad-hoc capital payments.
Following the restructure we have been working closely with the Borrower to accelerate the repayment period. We are now able to confirm that lenders in the loans will receive the final tranche of their capital repayment as well as this months interest payment today.
The full £600,000 of capital across the two loans will now have been repaid in total along with all penalty interest payments within a 6 month recovery period.
The payments will be allocated to lender accounts later today.
Kind regards
Business Development"
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