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 19, 2015 12:40:34 GMT
New loan on FK which made me look twice. Assume this is a related company. Edit. Indeed the sister company, so if we lend them money will that help recovery of Ippy/Eppy as they will be able to assist with marketing etc  |
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oldgrumpy
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Post by oldgrumpy on Mar 19, 2015 12:47:30 GMT
Someone called Stuart Law is the one of the directors.
I wonder if something legal prevents AFI using AC as its preferred platform.
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sl75
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Post by sl75 on Mar 19, 2015 13:34:25 GMT
I wonder if something legal prevents AFI using AC as its preferred platform. It would be a conflict of interest, and also against the operating principles of the P2P finance association: (see P2PFA Operating Principles linked from p2pfa.info/rules - "Members should not borrow or raise funds through their own platform.")
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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: 11,329
Likes: 11,549
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Post by ilmoro on Mar 19, 2015 13:45:32 GMT
Someone called Stuart Law is the one of the directors. I wonder if something legal prevents AFI using AC as its preferred platform. Interesting that they picked FK rather than a bigger player eg. Flying Confabulations or is the loan too big? Wonder if the forums had any influence or FK just offered something more. 
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mikes1531
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Post by mikes1531 on Mar 19, 2015 16:00:59 GMT
... if we lend them money will that help recovery of Ippy/Eppy as they will be able to assist with marketing etc An interesting opportunity for AFI to earn some marketing fees without them being too visible on the settlement statements we'll be getting explaining where all the proceeds went and why we're not going to be receiving all of our capital and accrued interest? But seriously, if AFI can find investors willing to take these assets off our hands and pay enough that we can recover all of our capital and accrued interest, I'd be most grateful. Though I do think AC/AFI would have some knotty conflict of interest issues if it was their own investors buying the assets.
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Post by loanstar on Mar 19, 2015 18:56:47 GMT
Had the email alerting me to the new loan today. Be an interesting one if it defaulted! Yes wonder why FK? I find myself on the horns of a dilemma. Do I support AC and go for a low rate or endeavour to obtain the best rate possible.
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baz657
Member of DD Central
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Post by baz657 on Mar 19, 2015 19:28:55 GMT
......... or endeavour to obtain the best rate possible. Always look after No 1. Nobody else will....
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Post by pepperpot on Mar 19, 2015 19:55:35 GMT
......... or endeavour to obtain the best rate possible. Always look after No 1. Nobody else will.... Yes, but do you want to help your seedrs investment or not?? 
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Post by andrewholgate on Mar 19, 2015 20:41:52 GMT
OK, for clarity AC shares the same office building and we have the same CEO. That is where the connection ends. AC is a stand alone business and has different shareholders and management (save for SL) than AFI. The businesses do not have any interaction except to fight over the freshly boiled kettle in the morning and to disagree about who has which parking spaces.
As the twisted saying goes, what happens in AFI, stays in AFI.
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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 20, 2015 14:11:02 GMT
Notice from the latest Ippy update that AFI are indeed assisting with Ippy recovery in the area where their expertise applies.  |
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kermie
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Post by kermie on Mar 23, 2015 21:59:34 GMT
For the curious, this is now 100% funded, averaging just under 10% interest.
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mikes1531
Member of DD Central
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Post by mikes1531 on Mar 24, 2015 4:43:09 GMT
For the curious, this is now 100% funded, averaging just under 10% interest. What was the total amount being raised?
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ianb
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Post by ianb on Mar 24, 2015 5:24:02 GMT
For the curious, this is now 100% funded, averaging just under 10% interest. What was the total amount being raised? £275,000
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Post by stuartassetzcapital on Mar 26, 2015 17:25:49 GMT
Notice from the latest Ippy update that AFI are indeed assisting with Ippy recovery in the area where their expertise applies. Hi Yes AFI is raising a small P2P loan as it ceases to have bank funding later this year as part of a general move away like many other businesses. The bank involved has been most helpful and supportive over the many years and not just when it was more active in the property sector. AFI is a buy to let and student accommodation estate agency and has a separate MD/ shareholder running it and I am the founder from many years ago, just chairman now and also shareholder still. And yes you are right that AFI has a lot of contacts and buyers for many property types used as security so you can expect it to provide potential buyers to an LPA receiver if one is appointed for it to consider alongside any bids the LPA receiver gets itself from other routes. It also sometimes casts an eye over property security when asked to provide informal views on it at an early stage to double check official valuers. So as Andrew says no conflicts permitted (hence AFI listing its loan on FK) but helpful property market feedback or assistance if asked. Happy to answer any other questions.
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