Greenwood2
Member of DD Central
Posts: 4,243
Likes: 2,686
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Post by Greenwood2 on Mar 2, 2022 16:06:19 GMT
Dear All, All of the loans and interest have now been repaid to Connective Lending Ltd. We are very sad also but ultimately the cost of compliance with regulation, now and in the future, proved to be hurdles that would be too costly to justify. Along with questions about by ability to use my experience to value assets and the apparent conflict of interest this created made the business not economical nor justifiable in the P2P sphere. My belief was that we could operate a well run and honest platform and that my experience was an asset and not a detriment to borrowers and lenders. I have bought all of the loans including all interest accrued and we will continue as a private entity. We do have plans for a different way of raising funds to continue our growth so if there is any interest in our future plans, from sophisticated and experienced investors only, then by all means email us and we can add you to a list. I would like to thank you all for such kind comments and the shared belief that we could all work together and show what a small but well run P2P could achieve. Alas, it was not meant to be. Kindest regards and all of the very best in your future investments. Danny Grimes You sir have at least 1 e mail. How do you email, 'Contact Us' doesn't seem to work any more.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,001
Likes: 570
Member is Online
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Post by dave4 on Mar 2, 2022 16:12:45 GMT
You sir have at least 1 e mail. How do you email, 'Contact Us' doesn't seem to work any more. I have replied to the e mails from the platform as im assume this is still working as yet to receive my tax statement.....fingers crossed ect.. connectivelending
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Post by df on Mar 2, 2022 17:12:06 GMT
Dear All, All of the loans and interest have now been repaid to Connective Lending Ltd. We are very sad also but ultimately the cost of compliance with regulation, now and in the future, proved to be hurdles that would be too costly to justify. Along with questions about by ability to use my experience to value assets and the apparent conflict of interest this created made the business not economical nor justifiable in the P2P sphere. My belief was that we could operate a well run and honest platform and that my experience was an asset and not a detriment to borrowers and lenders. I have bought all of the loans including all interest accrued and we will continue as a private entity. We do have plans for a different way of raising funds to continue our growth so if there is any interest in our future plans, from sophisticated and experienced investors only, then by all means email us and we can add you to a list. I would like to thank you all for such kind comments and the shared belief that we could all work together and show what a small but well run P2P could achieve. Alas, it was not meant to be. Kindest regards and all of the very best in your future investments. Danny Grimes Thank you, Danny! Very graceful exit. It was a great journey with CL - I wish it was a longer one, but perfectly understand why you had to stop. My final XIRR is 12.15%, which is the best out of all concluded p2p platforms I've ever used.
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Post by connectivelending on Mar 2, 2022 17:26:42 GMT
How do you email, 'Contact Us' doesn't seem to work any more. I have replied to the e mails from the platform as im assume this is still working as yet to receive my tax statement.....fingers crossed ect.. connectivelending customerservice@connectivelending.com
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Post by Ace on Mar 3, 2022 9:55:07 GMT
I've just received the last repayment from CL. A final XIRR of 13.07%. They will be sadly missed by me.
I've signed up for info on any proposals they have for future business funding.
Thanks to Danny and the team for a great lending experience.
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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: 10,848
Likes: 11,077
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Post by ilmoro on Mar 3, 2022 14:25:35 GMT
I've just received the last repayment from CL. A final XIRR of 13.07%. They will be sadly missed by me. I've signed up for info on any proposals they have for future business funding. Thanks to Danny and the team for a great lending experience. You sure? Thought Id had the last repayment but looks like someone is checking homework. Theyve just paid out some interest on a loan where they obviously miscalculated ... and I think there is another one where they have underpaid so might be more.
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Post by Ace on Mar 3, 2022 14:27:07 GMT
I've just received the last repayment from CL. A final XIRR of 13.07%. They will be sadly missed by me. I've signed up for info on any proposals they have for future business funding. Thanks to Danny and the team for a great lending experience. You sure? Thought Id had the last repayment but looks like someone is checking homework. Theyve just paid out some interest on a loan where they obviously miscalculated ... and I think there is another one where they have underpaid so might be more. You're right, another fiver just turned up.
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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: 10,848
Likes: 11,077
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Post by ilmoro on Mar 3, 2022 14:32:34 GMT
You sure? Thought Id had the last repayment but looks like someone is checking homework. Theyve just paid out some interest on a loan where they obviously miscalculated ... and I think there is another one where they have underpaid so might be more. You're right, another fiver just turned up. Check 8981919998 - looks to me to be in the same position (at least tranche B)
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Post by Badly Drawn Stickman on Mar 3, 2022 15:23:27 GMT
You're right, another fiver just turned up. Check 8981919998 - looks to me to be in the same position (at least tranche B) It is, and they are aware. They will also be doing an automatic payout on completion. I may have no idea what my XIRR is but I always notice most of the interest missing on a payment.
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Post by df on Mar 3, 2022 21:05:38 GMT
I've just received the last repayment from CL. A final XIRR of 13.07%. They will be sadly missed by me. I've signed up for info on any proposals they have for future business funding. Thanks to Danny and the team for a great lending experience. I didn't expect today's payments... brought my XIRR up to 12.75%. I could've easily quadruple my investments without breaking my diversification rules and it would result in a more significant sum of return, but following my lessons learned from some other platforms decided to be on more careful side for the first year. 12% of released funds went to EM, 5% to KUF, the rest went to FSCS savings accounts. P2P offerings are getting thinner and thinner.
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Post by Ace on Mar 4, 2022 15:14:24 GMT
The final payment has now brought my XIRR up to 13.35%.
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