eeyore
Member of DD Central
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Post by eeyore on Mar 9, 2022 16:15:30 GMT
New 36-month commercial term loan for Shirley R*** (PL) has been announced.
Total loan: £437,500 LTV: 70%
Tranche A: £312.5k @ 5.60% gross (Fully funded)
Tranche B: £93.75k @ 8.33% gross (Cap £1k)
Tranche C: £31.5k @ 10.03% gross (Cap £1k)
The security is a two-storey retail property let in its entirety to a well-known high-street chain on a five-year lease until 2026.
The purpose of the loan is to raise funds to purchase the property.
The exit strategy at the end of the term would be refinance the loan.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 9-Mar) and is now fully-funded. Tranches B & C will be available for Self-Select - funds for Self-Select lenders must be in their cash accounts by 17:30 on Thursday 10-Mar and allocation will take place on Friday 11-Mar.
Note: This loan has been drawn down simultaneously with the Shirley M*** U*** loan on 17-Mar.
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bababill
Member of DD Central
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Post by bababill on Mar 10, 2022 21:45:26 GMT
New 36-month commercial term loan for Shirley R*** (PL) has been announced. Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 9-Mar) and is now fully-funded. The wording for the other loan Shirley M*** U*** is different. "Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 10-Mar) and is now fully-funded, with some Always-On lenders being unsuccessful. " 1) Does that imply all always-on lenders were successful for this Shirley R*** ? 2) Where is the information coming from as I did not receive a email to say some always-on lenders were unsuccessful?
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Post by uksoul on Mar 10, 2022 23:03:20 GMT
The smallish loan size for both A tranches would leave some always on lenders with unsuccessful bids. Same goes for the free for all B & C tranches. If you were an always on bidder you should have got an email indicating your failed loan bid from Admin.
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bababill
Member of DD Central
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Post by bababill on Mar 11, 2022 0:34:11 GMT
If you were an always on bidder you should have got an email indicating your failed loan bid from Admin. Incorrect. Always on bidders do not receive an email indicating a failed loan bid.
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Post by uksoul on Mar 11, 2022 2:15:26 GMT
If you were an always on bidder you should have got an email indicating your failed loan bid from Admin. Incorrect. Always on bidders do not receive an email indicating a failed loan bid. oh.. seems strange as self select do..
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eeyore
Member of DD Central
Posts: 746
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Post by eeyore on Mar 11, 2022 9:21:43 GMT
New 36-month commercial term loan for Shirley R*** (PL) has been announced. Allocation of TrancheA funds for Always-On lenders has already taken place (Wednesday 9-Mar) and is now fully-funded. The wording for the other loan Shirley M*** U*** is different. "Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 10-Mar) and is now fully-funded, with some Always-On lenders being unsuccessful. " 1) Does that imply all always-on lenders were successful for this Shirley R*** ? 2) Where is the information coming from as I did not receive a email to say some always-on lenders were unsuccessful? In answer to your questions: 1) No, that would be probably be a false assumption because, as uksoul points out, small Proplend loans are oversubscribed. Proplend release very little information about the progress of each loan and almost nothing to unsuccessful lenders - only an entry in the 'Loans - Completed' list shows that a loan has eventually drawn down. 2) I usually get told by an Always-On lender when their account has been allocated a TrancheA slice. Always-On lenders should normally be sent an email to alert them to the allocation and to top-up their account if the balance has dropped below £1,000. If no allocation has been made, NO email will be sent - the first an Always-On lender would know that they had 'missed the boat' would be either an email alerting to any Self-Select offer or if there's no Self-Select offer because there's no TrancheB or C, when the loan is moved from 'Loans - Pending' to the 'Loans - In Funding' list. (Or by monitoring this Proplend forum!) Recently, the email alert for a successful Always-On allocation has been hours later than the allocation - the first indication has been the £1,000 reduction in the account balance or the appearance of the Self-Select offer email. In the case of these two Shirley loans: - for the Shirley R*** loan, I was alerted initially by the email with the Self-Select offer; I was made aware of a successful Always-On allocation but I had no means of knowing if other Always-On lenders had been unsuccessful. - for the Shirley M*** U*** loan, I was told, after the Self-Select offer email had been received, that no Always-On allocation had been made (no confirmatory email and no reduction in the account balance) - I concluded that, for the Shirley M*** U*** loan, there were unsuccessful Always-On lenders.
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mcfc
I’m invested in Qardus, Loanpad, Proplend, and Crowproperty
Posts: 91
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Post by mcfc on Mar 11, 2022 12:42:15 GMT
I’ve just had the e mail advising that I have been allocated a piece of the Tranche B action via auto select.
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easylender
Member of DD Central
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Post by easylender on Mar 11, 2022 12:48:22 GMT
I got the following message: This Loan was oversubscribed and unfortunately on this occasion you have not been successful in receiving an allocation. Loan allocations are determined by an algorithmic token based investment queue, which is based on the size of the Loan Tranches, how many Lenders are in the queue, how much money is in the queue and each Lenders position within that queue.
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Post by uksoul on Mar 11, 2022 12:54:39 GMT
I got the following message: This Loan was oversubscribed and unfortunately on this occasion you have not been successful in receiving an allocation. Loan allocations are determined by an algorithmic token based investment queue, which is based on the size of the Loan Tranches, how many Lenders are in the queue, how much money is in the queue and each Lenders position within that queue. same here...should increase the chance of getting a slice of the next one......................allegedly
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hantsowl
Member of DD Central
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Post by hantsowl on Mar 11, 2022 13:00:48 GMT
I got the following message: This Loan was oversubscribed and unfortunately on this occasion you have not been successful in receiving an allocation. Loan allocations are determined by an algorithmic token based investment queue, which is based on the size of the Loan Tranches, how many Lenders are in the queue, how much money is in the queue and each Lenders position within that queue. same here...should increase the chance of getting a slice of the next one......................allegedly It should do, but this the the second consecutive loan I have missed out on due to oversubscription ☹️
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Post by Ace on Mar 11, 2022 13:17:20 GMT
same here...should increase the chance of getting a slice of the next one......................allegedly It should do, but this the the second consecutive loan I have missed out on due to oversubscription ☹️ Me too. We're obviously nailed on for the next one. 😊 Except for the fact that the last two were small and the next is even smaller 😔
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Post by uksoul on Mar 11, 2022 13:31:23 GMT
It should do, but this the the second consecutive loan I have missed out on due to oversubscription ☹️ Me too. We're obviously nailed on for the next one. 😊 Except for the fact that the last two were small and the next is even smaller 😔 There are several big loans pending which everyone should get a slice of
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Post by uksoul on Mar 14, 2022 10:18:41 GMT
It should do, but this the the second consecutive loan I have missed out on due to oversubscription ☹️ Me too. We're obviously nailed on for the next one. 😊 Except for the fact that the last two were small and the next is even smaller 😔 no luck for me with the loan today..did you get a slice? _
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hantsowl
Member of DD Central
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Post by hantsowl on Mar 14, 2022 10:35:46 GMT
Me too. We're obviously nailed on for the next one. 😊 Except for the fact that the last two were small and the next is even smaller 😔 no luck for me with the loan today..did you get a slice? _ STILL no luck. That is the 3rd small loan on the trot I have missed out on. Makes me wonder if the algorithm is failing OR there are prefered clients….. proplend
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Post by uksoul on Mar 14, 2022 10:37:10 GMT
same here...should increase the chance of getting a slice of the next one......................allegedly It should do, but this the the second consecutive loan I have missed out on due to oversubscription ☹️ im in the same 2nd consecutive club now😒
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