shimself
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Post by shimself on Mar 21, 2022 17:31:31 GMT
Loanpad are filing their accounts at Companies House very promptly.
But I can't interpret them, can anyone else?
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mogish
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Post by mogish on Mar 30, 2022 15:05:59 GMT
Would be very interested in their finacial status as it's now my biggest p2p account.
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Post by Ace on Mar 30, 2022 15:16:09 GMT
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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
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Post by ilmoro on Mar 30, 2022 16:24:01 GMT
Does make me laugh "The endorsement came from peer-to-peer lending analyst 4thWay, which gave Loanpad’s premium account and Innovative Finance ISA (IFISA) an exceptional three out of three on its plus ratings." exceptional - unusual, not typical ... unusually good, outstanding .... so not in anyway the same rating they have given every platform they have rated Oddly enough they have given the same rating to the Classic Account/IFISA ... though P2PFN seems to neglect that fact. Meanwhile of course 4thway notes 'the risks are “better contained” than at any other P2P platform or IFISA provider' so naturally they have given it a worse risk rating rating than tranche A Proplend loans (presumably better protected from nuclear war!) and the same as CrowdProperty (higher LTVs
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ashtondav
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Post by ashtondav on Mar 30, 2022 16:50:24 GMT
Sometimes I wake up cynical. Other times I let him sleep.  But good points well made... |
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firedog
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Post by firedog on Mar 31, 2022 8:52:54 GMT
To be fair, the claim of profitability isn't made by 4th Way - it comes from an earlier interview with Loanpad's CEO. It's that interview, in Oct 2021, that claims that Loanpad had run a monthly profit since June of that year - ie for four months). Of course we can't verify this easily: the accounts we can see only show the balance sheet, not the P&L. But it's reassuring to see the low number of employees. Sign of a tight ship! |
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mogish
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Post by mogish on Mar 31, 2022 11:33:06 GMT
still waiting on a call back from Loanpad re switching standared to ISA as per theyre e mail suggesting waiving notice period.
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shimself
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Post by shimself on Mar 31, 2022 12:29:30 GMT
The impressive bit is that the accounts to end 2021 were filed on 19 jan 2022, which gives me considerable comfort that they had no reason to mangle the accounts into giving a misleading picture, and that they keep the accounts bang up to date. You have 9 months to do this, they did it in under 3 weeks
But I wish I could interpret them
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