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Post by ladywhitenap on Mar 25, 2020 12:02:52 GMT
Surpising that after nearly 24 hrs there has not been a thread started so here we go!
New Loan for power generation related projects. £2.5m 13% amortising on a 6 year basis with settlement bullet payment at 36 months. What's not to like?
I must admit to being a fan of A****w F*****n and his various business enterprises that have been supported by ABL loans. Always been a regular payer (as far as I can recall) and his reputation balances a somewhat overweight position I have on his loans. AF business accumen and ABL strong management make a good combination.
I'm in on this one, in moderation to start with and may well take more as his older loans mature.
LW
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withnell
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Post by withnell on Mar 25, 2020 15:26:23 GMT
I think this one has a decent shot given that since the Felinefoss payback offers on the SM for related loans are back around the 100% mark, rather than the sub 99% they've been at for the week before
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Post by Ace on Mar 25, 2020 16:04:19 GMT
I'm in. Things that we're going to need for the foreseeable future are power and waste disposal. This guy has shown himself to be a very competent businessman. He's turned projects around where others have failed. He's been my most reliable borrower on ABLrate, or any other platform for that matter. He borrows responsibly and pays his debts. It would be a real shame it the current circumstances resulted in this loan not filing, thus forcing a reliable borrower elsewhere.
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Post by ladywhitenap on Mar 25, 2020 17:10:20 GMT
I'm in. Things that we're going to need for the foreseeable future are power and waste disposal. This guy has shown himself to be a very competent businessman. He's turned projects around where others have failed. He's been my most reliable borrower on ABLrate, or any other platform for that matter. He borrows responsibly and pays his debts. It would be a real shame it the current circumstances resulted in this loan not filing, thus forcing a reliable borrower elsewhere. Totally agree with everything you say Ace. I've got about 1/2 an isa's worth of cash to go into ABL before 5th April but really can't justify to myself putting that much on one horse no matter the pedigree and track record of AF. LW
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Nomad
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Post by Nomad on Mar 25, 2020 17:24:37 GMT
I'm in. Things that we're going to need for the foreseeable future are power and waste disposal. This guy has shown himself to be a very competent businessman. He's turned projects around where others have failed. He's been my most reliable borrower on ABLrate, or any other platform for that matter. He borrows responsibly and pays his debts. It would be a real shame it the current circumstances resulted in this loan not filing, thus forcing a reliable borrower elsewhere. I'm in too - but it's only 8% filled so far.
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Post by ladywhitenap on Mar 25, 2020 17:32:11 GMT
I'm in. Things that we're going to need for the foreseeable future are power and waste disposal. This guy has shown himself to be a very competent businessman. He's turned projects around where others have failed. He's been my most reliable borrower on ABLrate, or any other platform for that matter. He borrows responsibly and pays his debts. It would be a real shame it the current circumstances resulted in this loan not filing, thus forcing a reliable borrower elsewhere. I'm in too - but it's only 8% filled so far. I think I read of a minimum requirement of £1m (unless I imagined that). So 40% fill might well be enough to retain his interest in ABL as lenders. LW
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seb8072
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Post by seb8072 on Mar 25, 2020 17:49:59 GMT
Is this a cunning plan?
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Post by df on Mar 25, 2020 18:19:06 GMT
I'm in. Things that we're going to need for the foreseeable future are power and waste disposal. This guy has shown himself to be a very competent businessman. He's turned projects around where others have failed. He's been my most reliable borrower on ABLrate, or any other platform for that matter. He borrows responsibly and pays his debts. It would be a real shame it the current circumstances resulted in this loan not filing, thus forcing a reliable borrower elsewhere. I agree. Mr F has been a very reliable borrower for a long time. However, even in normal market conditions, loans of this size were very difficult to fill. Now it will be even more difficult as many investors are in panic mode and trying to withdraw whatever they can, never mind investing in new loans.
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Nomad
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Post by Nomad on Apr 3, 2020 11:37:36 GMT
I'm in. Things that we're going to need for the foreseeable future are power and waste disposal. This guy has shown himself to be a very competent businessman. He's turned projects around where others have failed. He's been my most reliable borrower on ABLrate, or any other platform for that matter. He borrows responsibly and pays his debts. It would be a real shame it the current circumstances resulted in this loan not filing, thus forcing a reliable borrower elsewhere. I'm in too - but it's only 8% filled so far. Nine days later, only 12% filled.
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Post by ladywhitenap on Apr 3, 2020 11:41:31 GMT
I'm in too - but it's only 8% filled so far. Nine days later, only 12% filled. I think it is a combination of difficult times, several less than ideal feedback on other loans and quite a big loan size for the platform. LW
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iRobot
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Post by iRobot on Apr 3, 2020 12:09:16 GMT
An 'infomercial' on P2PFinNews: " Ablrate launches loan that will help secure energy for NHS hospitals" includes: Hmmmnn... playing the NHS card - at a time like this, doesn't sit well with me, I'm afraid. Intentions may be noble, but it's a business and it's in it for profit. Unless the Borrower is planning on donating those pellets to those 'hundreds of hospitals, health, and social care facilities' mentioned? (If / when production gets underway.)
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blender
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Post by blender on Apr 3, 2020 12:34:46 GMT
That may be an imposter. The real DBW has a beard.
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Post by Badly Drawn Stickman on Apr 3, 2020 12:46:57 GMT
Nine days later, only 12% filled. I think it is a combination of difficult times, several less than ideal feedback on other loans and quite a big loan size for the platform. LW There seems to be little appetite for investing on any platform at the moment. In fact the problems seem to be people trying very hard to get 'any' money out. Arguably Ablrate is one of the few platforms where there is an element of liquidity (at a stiff price, currently). I know the borrower has a strong following, but that is not universal, my own view is 'out there' and I suspect neither I nor anybody else wants it constantly repeating. Toss in a Global pandemic and it really is no great surprise it has stalled and in fairness looks like it might not get a second wind. Enjoy the instant returns while they are there, logically the loan will be withdrawn soon........unless all the above disappear over the weekend.
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blender
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Post by blender on Apr 3, 2020 15:00:56 GMT
It has a minimum of £1M and has been listed for a two month period. Given that it was launched during the current unpleasantness, I do not see it being withdrawn soon. Plenty of instant returns on offer - and maybe a drawdown.
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hazellend
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Post by hazellend on Apr 3, 2020 15:39:00 GMT
I can’t see the LTV.
There’s something about using 25% of book value of assets but I don’t have time to read and understand the full document. Anybody care to summarise?
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