IFISAcava
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Post by IFISAcava on Jun 16, 2020 15:58:11 GMT
Several loans being repaid early - recycled CBILS money or other government scheme?
If so, is this one Hancock enterprise benefitting from the government of another Hancock?
Not that I am complaining - very happy to see full capital repayments here on unsecured lending.
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IFISAcava
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Post by IFISAcava on Jun 16, 2020 16:06:06 GMT
The only slight annoyance with early repayments on C2F is that you pay a 1% fee on the capital repaid, without having earned much interest on that capital - so the effective charge is a lot higher.
nitpicking - I am still anticipating quite a few losses on this - fortunately, had been gradually pulling out for some time and am almost down to having just the accumulated interest left to run.
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macq
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Post by macq on Jun 16, 2020 16:27:52 GMT
Several loans being repaid early - recycled CBILS money or other government scheme? If so, is this one Hancock enterprise benefitting from the government of another Hancock? Not that I am complaining - very happy to see full capital repayments here on unsecured lending. They have been touting a relaunch alongside the British Business Bank etc using CBILS money and in a new product(so called future fund?) with the borrower paying 7% - 8%
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IFISAcava
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Post by IFISAcava on Jun 16, 2020 16:43:32 GMT
And another one just received.
though since the 1% fee is higher than the interest for the month my total balance is slowly decreasing with each capital repayment.
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zlb
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Post by zlb on Jul 2, 2020 8:49:54 GMT
Hmmm, I'm not getting early repayments - well I just had a small repayment and the borrower has gone from my portfolio but that's not being listed as a repayment in emails. It was a restructured loan - doubt they will be gaining repayment for defaults in admin though? What about those loans (not revenue loans) which now appear to be on hold?
What does CBILS as a system offer in terms of lender security? Anything/nothing? 7-8% is quite high.
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