keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 4,594
Likes: 2,624
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Post by keitha on Sept 18, 2019 19:07:49 GMT
OF course you non black box investors will have avoided this one.
Borrows £270,000 @ 12.9%
last set of books shows £90K a year profits ( and a 9K loan repayment ) add the 2 you get 100K give or take
Payment on this loan £9K a month
result liquidation
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Post by shanghaiscouse on Sept 22, 2019 10:31:49 GMT
Compared to many of mine, that is actually not a bad situation. At least they were profitable when they got the loan.
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Post by happyhippy on Sept 22, 2019 19:18:17 GMT
Term free money comes to mind.
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Post by happyhippy on Sept 22, 2019 19:19:19 GMT
I'm thinking of starting a business. 250 k loan. Selling cat  made into necklaces. Fc straight on it |
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blender
Member of DD Central
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Post by blender on Sept 22, 2019 21:44:31 GMT
56502 will be May 2018, and so well after the black box started. It's also a C loan (presumably) and part of the underperforming cohort - subject to 50% failures. At least you helped to inflate the loan book and to allow the venture capitalists and founders to get out with their profits.
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Post by df on Sept 23, 2019 6:48:57 GMT
I'm thinking of starting a business. 250 k loan. Selling cat made into necklaces. Fc straight on it Yes, FC is a loophole, but it has to be a short term business, you won't get a second chance. Ask for more - you can get up to 500k without offering any security 
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Stonk
Stonking
Posts: 735 
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Post by Stonk on Sept 23, 2019 8:11:53 GMT
I'm thinking of starting a business. 250 k loan. Selling cat made into necklaces. Fc straight on it Yes, FC is a loophole, but it has to be a short term business, you won't get a second chance. Ask for more - you can get up to 500k without offering any security
Yes, £250K is not enough. Obviously you'll need to buy yourself a nice car, maybe pay off your mortgage, or have a holiday, or pay school fees. The expenses in setting up are easily underestimated. Surely it's about time FC offered larger loans.
Remember, it is customary to make 1 payment, or perhaps stretch to 2 if you are feeling charitable. Anything beyond that is optional.
Feline Cack
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keitha
Member of DD Central
2024, hopefully the year I get out of P2P
Posts: 4,594
Likes: 2,624
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Post by keitha on Sept 23, 2019 13:43:09 GMT
you will need cat food too.
unfed cats don't creep into the crypt C%%% and creep out again.
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made into necklaces. Fc straight on it 
