jfm
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Post by jfm on Sept 11, 2015 19:37:36 GMT
ABL017: the vehicle is on SORN.
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baldpate
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Post by baldpate on Sept 29, 2015 17:17:55 GMT
ABL018 seems to be seriously underfilled (not yet even 50% with only a day to go), despite the 2% CB. OK, so loan amount is a bit bigger than normal, but no by that much. Why do people think this one is struggling? Is it something to do with this particular loan (size, doubts about security offered, ...)? Or is it that lenders are reaching their comfort-limit with respect to their aggregate exposure to this borrower? Or somethng else entirely (better prospect elsewhere, maybe)? Personally, I have invested modestly in this loan (as I have in previous ones), but I am quickly approaching my comfort limit. I think parag needs to do something soon to attract some new lenders. |
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Post by parag on Sept 30, 2015 11:03:23 GMT
baldpate The loan will be filled before it closes. Some of our larger lenders were waiting for the last day.
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jfm
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Post by jfm on Dec 1, 2015 19:37:23 GMT
Is anyone else curious about "the issue" on ABL026? I did try to find the tax status of the truck and failed.
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Post by parag on Dec 1, 2015 20:13:31 GMT
jfm The BLX borrower was not happy with the truck he purchased, from a dealer, that BLX had financed under the hire agreement. As a result he decided to return the truck to the dealer and swap it for another one or get a refund. As per the terms of our collaboration with BLX, we must be notified of any event that could lead to the hire agreement being terminated. BLX notified us of this this morning hence the loan request was cancelled. If it had drawn down already, BLX would have had to make an early repayment of the loan as per the terms of our collaboration agreement. Hope this helps.
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jfm
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Post by jfm on Dec 1, 2015 20:27:00 GMT
Thanks Parag
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hendragon
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Post by hendragon on Jan 5, 2016 12:47:22 GMT
Are FE able to give any indication of the volume of new deals this year?
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jfm
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Post by jfm on Jan 6, 2016 21:03:08 GMT
Hi parag. ABL29 says loan of 8972 & LTV of 68.54% implying an asset of 13090. Is LTV correct? |
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Post by parag on Jan 6, 2016 21:15:15 GMT
jfm The LTV you have quoted is the Funding Empire LTV. This is calculated using the total amount of receivables outstanding under the hire agreement that is used as security on the platform for the loan request versus the loan request value. If you hover over the '?' where the LTV is stated, you will see this explanation. Hope this helps.
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Post by parag on Jan 6, 2016 21:23:01 GMT
hendragon We are making significant changes over the coming months to our product line up, platform and brand. This is as a result of Paratus AMC acquiring a majority stake in us last year. We will be communicating these changes to all our lenders in the very near future. Given this, it is very difficult for me to answer your question accurately right now; apologies.
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 1, 2016 11:51:13 GMT
Hi parag hope your well. Cash balance building up (not a complaint  ). Anything on the horizon? |
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Post by parag on Jun 1, 2016 12:09:29 GMT
jonno Yes! Email going out later today. £120,000 loan secured by first charge over property. 25% LTV paying 10.5% over 5 years. Loan listing going live tomorrow morning. (Capital at risk) Regards, Parag
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ben
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Post by ben on Jun 1, 2016 12:19:35 GMT
jonno Yes! Email going out later today. £120,000 loan secured by first charge over property. 25% LTV paying 10.5% over 5 years. Loan listing going live tomorrow morning. (Capital at risk) Regards, Parag This the loan that was mentioned awhile ago or a different one?
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Post by parag on Jun 1, 2016 12:53:14 GMT
Hi ben. Yes it's the same loan that we emailed lenders about a month or so ago. |
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jonno
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nil satis nisi optimum
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Post by jonno on Jun 1, 2016 14:14:36 GMT
jonno Yes! Email going out later today. £120,000 loan secured by first charge over property. 25% LTV paying 10.5% over 5 years. Loan listing going live tomorrow morning. (Capital at risk) Regards, Parag Hi parag ; thanks for this. Given the size of the loan do you think it may take quite a while to fill, and if so are you planning any inducement for early investment? FS are having to do a lot of this to fill up their property loans. Instant returns might do it. Just a thought 
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). Anything on the horizon?