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Post by roxanamohammadian on May 26, 2021 12:52:07 GMT
Good Afternoon everyone, I hope you are all well. Here’s a quick summary of the return of the loans we’ve funded in 2021 to the end of April: • January: 9.5% return p.a. • February: 9.1% return p.a. • March: 9.5% return p.a. • April: 9.33% return p.a. Let me know if you have any questions. Capital at risk. Read the full warning on our website. Have a great day Roxana
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Post by Ace on May 26, 2021 13:18:25 GMT
Hi roxanamohammadian, Can you say how many loans were funded in each of those months please, and the total lent each month? Can you give us any idea of the current pipeline? TIA
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ton27
Member of DD Central
Posts: 431
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Post by ton27 on May 26, 2021 16:00:06 GMT
A view of the current pipeline would be good - I have a lot of cash (30% of portfolio) in Blend waiting to be re-invested
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Post by roxanamohammadian on Jun 1, 2021 14:49:10 GMT
Hi Ace, Sure. Here’s what we funded in each month up till the end of April: • January: 2 loans and a total of £625,000 funded • February: 5 loans and a total of £1,745,000 funded • March: 1 loan and a total of £1,700,000 funded • April: 3 loans and a total of £1,085,000 funded Also, now that May is closed, I can inform you that in May we funded one £750,000 loan at 9% return p.a. In terms of our pipeline, you’ll have seen that we listed a £1,100,000 loan yesterday (this is the first tranche of a £3,460,000 total net lending facility). Aside from that, we have several £500k+ loans in advanced stage of due diligence (in legals) which we are confident will be listed within the next couple of weeks. Also, as you know last year, we doubled our loan book. This year we will be looking to at least match that increase and more-than-double our loan book again Let me know if you have any questions. Capital at risk. Read the full warning on our website. Have a great day Roxana
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Post by roxanamohammadian on Jun 1, 2021 14:50:14 GMT
Hi ton27, Thank you for your trust in Blend Network We know lenders are ‘hungry’ for more loans, and more loans is also what we want to bring our lenders. You’ll have seen that we listed a £1,100,000 loan yesterday (this is the first tranche of a £3,460,000 total net lending facility). Aside from that, we have several £500k+ loans in advanced stage of due diligence (in legals) which we are confident will be listed within the next couple of weeks. But as always with Blend Network, quality over quantity Thank you so much for your patience! Capital at risk. Read the full warning on our website. Have a great day Roxana
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Post by Ace on Jun 1, 2021 15:00:20 GMT
Thanks Roxana.
The email announcing the previous loan stated that it would be fully funded by autolend, but the email for today's loan made no such statement. Does this imply that all autolend requests will be fully satisfied by this new loan, and that there will be some left over for manual pledges?
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Post by Ace on Jun 1, 2021 16:46:46 GMT
Thanks Roxana. The email announcing the previous loan stated that it would be fully funded by autolend, but the email for today's loan made no such statement. Does this imply that all autolend requests will be fully satisfied by this new loan, and that there will be some left over for manual pledges? For the benefit of others, it looks like I can answer my own question. I must have been fairly near the back of the autolend queue as I'd only recently signed up. I've been given my £5k allocation already. 5 minutes before the loan is due to go live there is still £28k available, so it looks like there will be that much available for manual pledges.
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Post by Ace on Jun 1, 2021 16:49:59 GMT
The remaining £28k went in the first few seconds after the loan opened.
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Post by roxanamohammadian on Jun 3, 2021 16:10:52 GMT
Hi Ace, Apologies for the slow response – that’s because every comment and response has to be submitted to compliance and approved before posting, and there’s a process we need to follow for that. Yes, you are absolutely correct in your comments. The £1,100,000 loan was almost fully funded by AutoLend but there was £28k left for manual lenders and that was taken in less than 1 minute. We are happy that all AutoLenders got the chance to invest in this 9.5% return p.a. loan. All in all, it was funded by 279 investors. We have some more loans coming up soon. Let me know if you have any questions. Capital at risk. Read the full warning on our website. Have a great day Roxana
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