blender
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Post by blender on Aug 19, 2021 11:40:57 GMT
Recent admin note for the late payment due 16/8/21 reads "The borrower is still awaiting a debtor book payment and will send as soon as received" Are we now providing an interest free overdraft facility to our borrowers? I could not find that in the borrower proposal. LW ablrate I just cannot believe that you are still holding this one, Milady. Probably too accustomed to giving large sums to your village charities.
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Post by ladywhitenap on Aug 19, 2021 11:58:12 GMT
Recent admin note for the late payment due 16/8/21 reads "The borrower is still awaiting a debtor book payment and will send as soon as received" Are we now providing an interest free overdraft facility to our borrowers? I could not find that in the borrower proposal. LW ablrate I just cannot believe that you are still holding this one, Milady. Probably too accustomed to giving large sums to your village charities. Well one tries to supportive where possible, but I do expect ABL to to be firmer with borrowers who in turn need to actively pursue their debtors or at least recognise their responsibilities to us. LW
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blender
Member of DD Central
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Post by blender on Aug 19, 2021 13:35:08 GMT
I just cannot believe that you are still holding this one, Milady. Probably too accustomed to giving large sums to your village charities. Well one tries to supportive where possible, but I do expect ABL to to be firmer with borrowers who in turn need to actively pursue their debtors or at least recognise their responsibilities to us. LW Unfortunately I don't believe that the issues are that superficial. The borrower will be working hard to improve its cash flow and abl will be working hard to capture our dues. But abl has no credible stick to wave, imo, because the interest of all parties is to support the growth of the underlying businesses, our security assets, and achieve refinancing through debt and equity. The original plan was to have repaid the capital of the loans in April and July, now rescheduled for an extra year - due to COVID. At present they do not have the cashflow to make the interest-only payments on time. What are the current values of the underlying businesses and their projections? We do not know.
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Post by Badly Drawn Stickman on Aug 20, 2021 22:30:10 GMT
Recent admin note for the late payment due 16/8/21 reads "The borrower is still awaiting a debtor book payment and will send as soon as received" Are we now providing an interest free overdraft facility to our borrowers? I could not find that in the borrower proposal. LW ablrate ! would always prefer payments to be made on time. I think this one was flagged in the last 'update video' as being 'assisted' with the use of ablrate contacts to improve the situation in September. August apparently when people take their eye off the ball and have holidays (and there was me thinking we now lived in a 24/7 World). So would have been more surprised if payment had arrived on time this month. Clearly in this instance 'debtor book' is the technical term for customers paying slowly, the down side of the customer being King I suppose. Whilst it is sub optimal currently, they are at least giving advance notice of the problem and seemingly making the payments when funds do arrive. On that basis and given the pretty dire trading over the last 18 months I am prepared to give a bit of slack on payment drift. At 14% some time spent on the emotional roller coaster would seem to be par for the course. I'm pretty sure they are not paying that because they are thriving cash cows.
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Post by overthehill on Aug 27, 2021 18:13:53 GMT
I'm not in favour of this loan or any loan being tradeable when another linked/shared security loan or tranche has a late payment regardless of what the T&C's state. Is it a technical limitation?
Anyway, all new investors should be wary because it might turn out to be an unpleasant experience. There are a number of defaulted loans which may or may not have had a history of late payments...
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brush
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Post by brush on Sept 3, 2021 14:01:04 GMT
Another share issue Wednesday, might see both loan payments shortly?  |
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Post by spareapennyor2 on Sept 3, 2021 14:19:52 GMT
Partial payment only arrears more next week
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brush
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Post by brush on Sept 3, 2021 14:20:24 GMT
As if a bit of Tommy Cooper 2 admin notes appear |
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Post by ladywhitenap on Sept 8, 2021 12:30:43 GMT
ablrate Balance of last months payment was promised for early this week. I make it middle of the week now, so can we have a realistic update for when we will get the payment which is now 3 weeks overdue. 124 is now late too and had the same promise of "early this week" Thanks LW
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TitoPuente
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Post by TitoPuente on Sept 9, 2021 8:15:11 GMT
RNS dated 8 Sept announces significant changes in the C-suite and Board.
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brush
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Post by brush on Sept 9, 2021 8:43:10 GMT
Last paragraph of RNS reads mildly positive.
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Post by Badly Drawn Stickman on Sept 15, 2021 16:25:12 GMT
So all nicely up to date.
Until tomorrow anyway. It will be interesting to see if payments can start to match days due.
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TitoPuente
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Post by TitoPuente on Sept 16, 2021 12:17:42 GMT
Another cash call announced 14 Sept.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Nov 3, 2021 9:35:45 GMT
RNS dated 2 November announces an acquisition for £1.55m to be paid in new shares and warrants.
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brush
Member of DD Central
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Post by brush on Nov 9, 2021 22:37:03 GMT
ablrate time for updates and payments.
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