criston
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Post by criston on Jul 22, 2020 17:36:21 GMT
I remember mention of underwriters somewhere along the line; maybe a telephone chat.
I believe Ablrate introduced this one to the borrower, so there is some sort of indebted relationship here.
There are still some of the borrowers loans stating 'received a request for settlement figures' which could still help if redeemed.
It would need some magic to get to the eventual £11m.
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blender
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Post by blender on Jul 22, 2020 17:45:31 GMT
They are just trying to get this one to the £1m minimum. Then we shall see the master plan unfold.
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ptr120
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Post by ptr120 on Aug 19, 2020 10:16:52 GMT
Hi ablrate it is now almost 5 months since this loan was launched. Is there a plan for this yet? I'm also curious to know how instant returns are paid for? I know that six months of interest is being withheld at drawdown, but the costs accruing for instant returns is mounting. How are those covered?
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Post by ablrate on Aug 19, 2020 14:53:30 GMT
Hi ablrate it is now almost 5 months since this loan was launched. Is there a plan for this yet? I'm also curious to know how instant returns are paid for? I know that six months of interest is being withheld at drawdown, but the costs accruing for instant returns is mounting. How are those covered? Hi They are taken from the net amount sent to the borrower. We believe it will close at £1 million shortly.
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hazellend
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Post by hazellend on Aug 19, 2020 15:37:49 GMT
Hi ablrate it is now almost 5 months since this loan was launched. Is there a plan for this yet? I'm also curious to know how instant returns are paid for? I know that six months of interest is being withheld at drawdown, but the costs accruing for instant returns is mounting. How are those covered? Hi They are taken from the net amount sent to the borrower. We believe it will close at £1 million shortly. Will the borrowers generators be repaid? I like this loan but am overweight.
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mw
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Post by mw on Sept 1, 2020 18:56:32 GMT
Just taken this one over to the £1m mark hopefully get some instant returns soon!
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tony9239
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Post by tony9239 on Sept 2, 2020 10:38:22 GMT
Yes, let's hope so. I have to say the interminable delay in closing this loan (c. 6 months now) has put me off investing in new ABL loans. Combined with stakes in a number of "paused" or defaulted or problematic loans (all non-paying), my monthly income from ABL is 38% down on what it should be. Not good - especially when you can't offload them in the secondary market.
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Post by muttley916 on Sept 2, 2020 12:59:56 GMT
Yes, let's hope so. I have to say the interminable delay in closing this loan (c. 6 months now) has put me off investing in new ABL loans. Combined with stakes in a number of "paused" or defaulted or problematic loans (all non-paying), my monthly income from ABL is 38% down on what it should be. Not good - especially when you can't offload them in the secondary market. My income is also down by similar amounts. Nothing really seems to be happening with the non paying loans
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blender
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Post by blender on Sept 2, 2020 14:01:46 GMT
Yes, let's hope so. I have to say the interminable delay in closing this loan (c. 6 months now) has put me off investing in new ABL loans. Combined with stakes in a number of "paused" or defaulted or problematic loans (all non-paying), my monthly income from ABL is 38% down on what it should be. Not good - especially when you can't offload them in the secondary market. I don't think they will wait much longer and you will get your 6.5%, if held for six months. Interest is accruing at £356 per day while the total crawls up.
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tony9239
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Post by tony9239 on Sept 8, 2020 9:08:26 GMT
Hi ablrate it is now almost 5 months since this loan was launched. Is there a plan for this yet? I'm also curious to know how instant returns are paid for? I know that six months of interest is being withheld at drawdown, but the costs accruing for instant returns is mounting. How are those covered? Hi They are taken from the net amount sent to the borrower. We believe it will close at £1 million shortly.Hello ablrate, this is well over a £1m now - has been for a few days. Can we have an ETA please?
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Post by ablrate on Sept 9, 2020 10:20:40 GMT
Hi - we are speaking with the borrower at the moment and finalising draw down, but it will remain open and earning instant Returns until close.
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tony9239
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Post by tony9239 on Sept 10, 2020 19:31:16 GMT
Yes, let's hope so. I have to say the interminable delay in closing this loan (c. 6 months now) has put me off investing in new ABL loans. Combined with stakes in a number of "paused" or defaulted or problematic loans (all non-paying), my monthly income from ABL is 38% down on what it should be. Not good - especially when you can't offload them in the secondary market. I don't think they will wait much longer and you will get your 6.5%, if held for six months. Interest is accruing at £356 per day while the total crawls up. Emailed ABL today and got this reply: "Good afternoon. I am advised that the loan (1000142) will continue to run as it continues to generate investment , it is in the best interest of all (except those looking for a regular income, say I) to continue the raise in the immediate short term. As you are aware any pledge that has been made is attracting 'Instant Returns' until such time the loan closes and draws down."
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Post by Badly Drawn Stickman on Sept 10, 2020 19:51:57 GMT
I don't think they will wait much longer and you will get your 6.5%, if held for six months. Interest is accruing at £356 per day while the total crawls up. Emailed ABL today and got this reply: "Good afternoon. I am advised that the loan (1000142) will continue to run as it continues to generate investment , it is in the best interest of all (except those looking for a regular income, say I) to continue the raise in the immediate short term. As you are aware any pledge that has been made is attracting 'Instant Returns' until such time the loan closes and draws down." Without checking the figures, I would say just from observation it is simply 'treading water'. I take your point about wanting income, but had I known it would go this way I would have certainly pledged a decent lump on the launch date. I however see no real advantage to investing at this stage. Must make sense to somebody somewhere.
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criston
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Post by criston on Sept 10, 2020 20:05:08 GMT
Why don't Ablrate do the obvious, if the loan is to definitely go live, but not in the foreseeable future.
Get Mr F to pay the interest to date.
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Post by Badly Drawn Stickman on Sept 10, 2020 20:40:53 GMT
Why don't Ablrate do the obvious, if the loan is to definitely go live, but not in the foreseeable future. Get Mr F to pay the interest to date. Ablrate said earlier that the instant returns are deducted from the loan amount sent, so I assumed it's continuing was to try and get a 'clean' million. Just looks to me that it is just increasing enough to keep pace with the additional instant returns so rather pointless really. I am assuming the money is just 'sat in a draw' somewhere currently but may be wrong in that.
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