KoR_Wraith
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Post by KoR_Wraith on Oct 7, 2019 12:31:28 GMT
#129 up to 72% filled now, looks like it might make it across the line after all.
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blender
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Post by blender on Oct 10, 2019 22:18:08 GMT
73% now, but it's 'up to' and so there is no line to cross. Just a question of asking the borrower if the sum is sufficient, which is not as easy as it sounds.
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Post by ladywhitenap on Oct 26, 2019 9:27:33 GMT
73% now, but it's 'up to' and so there is no line to cross. Just a question of asking the borrower if the sum is sufficient, which is not as easy as it sounds. I'm pleased to see this is up to 84% now and 5 days to go to the latest deadline. I'm heavily into 67&68 - more than I'm now comfortable with so can't really justify a further personal contribution - just grateful to those who are supporting 129 and to ABL for coming up with a creative proposal. LW
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Post by ladywhitenap on Nov 7, 2019 19:20:46 GMT
Very very slow increase now taken nearly 2 weeks to get from 84-86%. Seems like underwriters are not filling the gap.
Is 86% enough to go ahead?
LW
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Post by oktaeder on Nov 19, 2019 14:41:12 GMT
More than a year unpaid interests now. What is goin' on, ablrate?
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Post by ablrate on Nov 19, 2019 15:51:50 GMT
More than a year unpaid interests now. What is goin' on, ablrate? Hi - there is extensive explanation in the admin notes and the borrowing proposal of 129. There will be an update shortly also on the progress of the project.
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Post by oktaeder on Dec 12, 2019 20:32:25 GMT
I got your updates, yes. But I don't understand exactly what is the plan now. #68 was back on 2nd market, paused now again. Every day a L0 repayment for #67. #129 is waiting and waiting and waiting. Please be a bit more transparent.
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blender
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Post by blender on Dec 13, 2019 10:15:24 GMT
I got your updates, yes. But I don't understand exactly what is the plan now. #68 was back on 2nd market, paused now again. Every day a L0 repayment for #67. #129 is waiting and waiting and waiting. Please be a bit more transparent.
Tricky. 67 & 68 will probably not be serviced until drawdown. The borrowing proposal of August still stands and has to be the basis of drawdown, but that means a launch before Xmas 2019. Clearly work progresses without drawdown, funded in other ways, and the use of these funds will be more in the nature of a refinance. But surely drawdown would have to be dependent on completion and launch next week. I hope this all happens to plan. But I don't see how the platform could release the funds without further consideration if it does not happen, and we do not know if the borrower has been incorporated. But they are not my funds.
p.s. No launch date has been announced. This is the response to a Facebook request for a booking, within the last day. "We are still in the process of developing and construction but we hope to let everyone know soon when we plan on opening".
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Post by ablrate on Dec 13, 2019 10:37:14 GMT
I got your updates, yes. But I don't understand exactly what is the plan now. #68 was back on 2nd market, paused now again. Every day a L0 repayment for #67. #129 is waiting and waiting and waiting. Please be a bit more transparent.
Tricky. 67 & 68 will probably not be serviced until drawdown. The borrowing proposal of August still stands and has to be the basis of drawdown, but that means a launch before Xmas 2019. Clearly work progresses without drawdown, funded in other ways, and the use of these funds will be more in the nature of a refinance. But surely drawdown would have to be dependent on completion and launch next week. I hope this all happens to plan. But I don't see how the platform could release the funds without further consideration if it does not happen, and we do not know if the borrower has been incorporated. But they are not my funds.
p.s. No launch date has been announced. This is the response to a Facebook request for a booking, within the last day. "We are still in the process of developing and construction but we hope to let everyone know soon when we plan on opening".
We will have an update soon. Working through legals.
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blender
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Post by blender on Dec 18, 2019 11:41:15 GMT
Opening Friday 8 pm, in which case the commitment will be met. Clearly a challenging target, because on the Facebook site 1 hr ago 'We’re looking for carpenters who are available today to help finish with the completion of the fit-out'
Credit where it is due. Opening before Xmas, in whatever form, ticks a big box for this loan. And repairs the damage previously done to the facilities of this small town. Anyone going on Friday?
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nw99
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Post by nw99 on Dec 18, 2019 15:30:36 GMT
All very good news cannot go as in Portugal
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sj
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Post by sj on Dec 19, 2019 13:25:53 GMT
Update on site for each of these 3 loans - a nice little early Christmas present for us! I'm very pleased with how Ablrate have managed the situation and the outcome sounds promising.
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blender
Member of DD Central
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Post by blender on Dec 19, 2019 13:40:14 GMT
Above and beyond - no doubt of that.
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des
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Post by des on Dec 19, 2019 13:49:00 GMT
Above and beyond - no doubt of that. Agreed, thank you ablrate for all the effort that I am sure went into arranging this option.
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IFISAcava
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Post by IFISAcava on Dec 19, 2019 14:23:53 GMT
problem is those of us not in these loans can't see what the proposals are!
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