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Post by Badly Drawn Stickman on Mar 19, 2021 12:32:48 GMT
Does that give you confidence or the reverse? I assume the helper wasn't helping on those crowdfunds, or was he criticising himself? No no assistance on those pitches, pulling them apart for being unrealistic, financial nonsense and on occasion straight out lying. So the fact that they consider the pitch credible enough to assist appears like a positive given their usual level of colossal scepticism about crowdfunding & the platforms. Maybe Paddington gave Mr Brown enough marmalade sandwiches to cloud his opinion. I have invested with Loanpad since its early days and have a mostly positive view of it.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,344 
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Post by ilmoro on Mar 19, 2021 13:30:15 GMT
Overfunding and public
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Post by robmb on Mar 19, 2021 14:39:16 GMT
You are the P2P expert but I understood that both of the examples you lead with had had to stop lending P2P or vlumes are massively down? Am I wrong? Its misleading to compare a clearly broken model to Loanpads IMO. And in fact the money that had been attracted to the likes of Lendy, Assetz none of whom have got close to BE, etc will now need a new home - one that offers some sustainability which again IMO could be Loanpad. Could be, of course. Assetz claim to be profitable. Really? I didnt realise that. Lost £500k last year to March 2020 and loans and revenues down and now they have stopped some lending I think so how that would create a profit is a mystery. Are you sure?
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Post by robmb on Mar 19, 2021 14:43:57 GMT
No no assistance on those pitches, pulling them apart for being unrealistic, financial nonsense and on occasion straight out lying. So the fact that they consider the pitch credible enough to assist appears like a positive given their usual level of colossal scepticism about crowdfunding & the platforms. Maybe Paddington gave Mr Brown enough marmalade sandwiches to cloud his opinion. I have invested with Loanpad since its early days and have a mostly positive view of it. For Clarity - yes BE stands for Break Even - why would I want to type in full at my age? Anyway apologies if unclear. And yes we - my compnay - have been helping Loanpad since 2018 with a possible raise using an equity crowdfunding platform. Delighted that eventually we have got it right and they have exceeded their target and continue to fund. Dont take my word for it - ask them and look at the pitch or dont but dont kill me - please. I responded to an existing series of comments about Loanpad that seemed out of date and unfounded. Isnt that why you have forums? On checking Asstez really lost £760k last yr as they deducted their 'not paid on profit' corp tax from their loss on the published p&L - not sure that's really legal but still.
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Post by robmb on Mar 19, 2021 14:51:18 GMT
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Post by Ace on Mar 19, 2021 14:57:07 GMT
Assetz claim to be profitable. Really? I didnt realise that. Lost £500k last year to March 2020 and loans and revenues down and now they have stopped some lending I think so how that would create a profit is a mystery. Are you sure? They've been profitable for a while according to 4thway ( www.4thway.co.uk/candid-opinion/p2p-lending-sites-profitable/). Their CBILS lending will likely have made a massive positive difference for them this year. Edit: oops, I may have misread that, but I'm led to believe they will declare a profit this year.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,344
Likes: 11,565
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Post by ilmoro on Mar 19, 2021 15:16:56 GMT
Really? I didnt realise that. Lost £500k last year to March 2020 and loans and revenues down and now they have stopped some lending I think so how that would create a profit is a mystery. Are you sure? They've been profitable for a while according to 4thway ( www.4thway.co.uk/candid-opinion/p2p-lending-sites-profitable/). Their CBILS lending will likely have made a massive positive difference for them this year. Edit: oops, I may have misread that, but I'm led to believe they will declare a profit this year. IIRC loss was as the result of increased investment into business but have been profitable since 2017 otherwise
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Post by robmb on Mar 19, 2021 15:18:01 GMT
Well that's a huge maybe. I prefer facts. It still doesnt alter argument that comparing them to Loanpad in terms of valuation isnt credible which is where the conversation started. Totally diff models and lending to diff sector. Not saying Assetz are bad just that their valuation isnt relevent to Loanpads.
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Post by robmb on Mar 19, 2021 15:21:15 GMT
'Otherwise' - so they have been profitable apart from the the fact they havent made a profit?  |
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Post by Badly Drawn Stickman on Mar 19, 2021 15:30:29 GMT
Maybe Paddington gave Mr Brown enough marmalade sandwiches to cloud his opinion. I have invested with Loanpad since its early days and have a mostly positive view of it. For Clarity - yes BE stands for Break Even - why would I want to type in full at my age? Anyway apologies if unclear. And yes we - my compnay - have been helping Loanpad since 2018 with a possible raise using an equity crowdfunding platform. Delighted that eventually we have got it right and they have exceeded their target and continue to fund. Dont take my word for it - ask them and look at the pitch or dont but dont kill me - please. I responded to an existing series of comments about Loanpad that seemed out of date and unfounded. Isnt that why you have forums? On checking Asstez really lost £760k last yr as they deducted their 'not paid on profit' corp tax from their loss on the published p&L - not sure that's really legal but still. No desire at all to 'kill' you, actually was tending to think you would be useful to keep around. At your age (and background) I would suggest you were clearly slacking a bit with your earlier posts. A forum is whatever the contributors make it, I guess.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Mar 19, 2021 17:08:46 GMT
I was on Loanpad from the beginning, but the amount in some loans was getting too big for my liking due to being a proportion of each loan rather than a controllable amount per loan, also the possible peril of only one partner. Apparently they now have more partners and there are more loans to diversify across, so I'm starting to re-invest. Waiting to see how some of the 'late' loans work out before getting too enthusiastic.
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warn
Member of DD Central
Curmudgeon
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Post by warn on Mar 19, 2021 18:17:17 GMT
This is turning into VHS vs Betamax.
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Post by wiseclerk on Mar 19, 2021 19:38:37 GMT
Thanks for helping me to expand my vocabulary, ilmoro - I had to look that up in the dictionary.
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Post by wiseclerk on Mar 19, 2021 19:58:13 GMT
Which part of it is inaccurate? The numbers I posted are facts.
And anybody can compare the loan volumes originated (they are publicly available) by Assetz or Landbay to those of Loanpad. If you don't want to take a month as sample, take the last 12 month before funding.
You are the P2P expert but I understood that both of the examples you lead with had had to stop lending P2P or vlumes are massively down? Am I wrong? Its misleading to compare a clearly broken model to Loanpads IMO. And in fact the money that had been attracted to the likes of Lendy, Assetz none of whom have got close to BE, etc will now need a new home - one that offers some sustainability which again IMO could be Loanpad. Could be, of course. I think you misunderstood me. I was in no way endorsing or condemming Assetz or Landbay.
Actually my point was that the loan volume of Assetz and Landbay are a big multiple of that loan volume of Loanpad (regardless of whether you take last month, last year or since launch).. And my point is that that multiple in loan originations is much bigger than the multiple of 3x applied in the valuations.
But I learned from your following post that
Guess that depends on how you define the market. For me it looks that all three mentioned are in the market of facilitating loans secured against property in the UK, with institutional and/or retail lenders involved on an internet marketplace. In my book that puts them into a pretty specific segment. But of course any company can claim that they are so unique that comparisons aren't credible.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Mar 19, 2021 20:24:11 GMT
This is turning into VHS vs Betamax. That was so wrong.
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