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Post by parag on Jun 1, 2016 14:26:37 GMT
jonno We don't anticipate any issues filling this within around a week. We've had a number of lenders very eager to participate in this loan after we sent the initial email out. That being said, not all may actually place a bid so we will revisit the situation after the loan is listed. Thanks for the feedback.
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Post by mrclondon on Jun 1, 2016 15:07:57 GMT
parag - are their any plans to allow holders of the 1st loan (which is presumably going to be repaid by this new one) to roll their holdings forward ? (I appreciate the complication is the monthly amortization that's due on the 8th June)
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Post by parag on Jun 1, 2016 15:38:04 GMT
mrclondon Yes, they will be repaying the first loan in full before the latest loan is originated. We will be emailing lenders who have loan parts in the first loan to see if they would like to roll their capital into this loan. As you correctly stated, the amortising nature of our loans, along with the timings of repayments and origination of the new loan, makes it slightly difficult to allow lenders to do this seamlessly via the platform. We will also have to suspend secondary market trades for the first loan. Our interpretation of the client cash rules also do not help in allowing lenders to make bids without available funds.
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shimself
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Post by shimself on Jun 1, 2016 21:39:38 GMT
mrclondon Yes, they will be repaying the first loan in full before the latest loan is originated. We will be emailing lenders who have loan parts in the first loan to see if they would like to roll their capital into this loan. As you correctly stated, the amortising nature of our loans, along with the timings of repayments and origination of the new loan, makes it slightly difficult to allow lenders to do this seamlessly via the platform. We will also have to suspend secondary market trades for the first loan. Our interpretation of the client cash rules also do not help in allowing lenders to make bids without available funds. Borrow TC's lawyer, they manage it quite often
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jfm
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Post by jfm on Jun 1, 2016 22:32:10 GMT
The rate is currently showing as "N/A" on the website, parag.  |
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Post by parag on Jun 2, 2016 7:05:03 GMT
jfm We had to use the old loan listing system that we used to use for the SME loans that had a variable rate. That field displays the average rate of lenders bids on the loan. As this is a fixed rate loan, this will show 10.5 once bidding commences.
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ben
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Post by ben on Jun 11, 2016 19:10:51 GMT
now that new loan is out the way is there many more loans on the horizan?
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Post by investormuk on Jun 16, 2016 15:05:41 GMT
now that new loan is out the way is there many more loans on the horizan? I'm keen to know too.
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Post by parag on Jun 16, 2016 15:11:38 GMT
The only deals we currently have in the pipeline are the BLX loans.
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jfm
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Post by jfm on Jul 27, 2016 18:51:51 GMT
Things have been a bit quiet on the origination front lately. Any updates to offer parag ? |
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jonno
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nil satis nisi optimum
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Post by jonno on Aug 8, 2016 14:40:31 GMT
Things have been a bit quiet on the origination front lately. Any updates to offer parag ? Afternoon parag. Any news re jfm question?
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jfm
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Post by jfm on Aug 8, 2016 19:17:55 GMT
I think he must have gone on holiday - usually answers quickly.
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jonno
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nil satis nisi optimum
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Post by jonno on Aug 15, 2016 11:22:10 GMT
I think he must have gone on holiday - usually answers quickly. You may well be right. I've got a lot of time for parag, but I don't think it's acceptable that nobody else from the platform is available for any comment at all;even just a short holding statement would be better than nothing.
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jfm
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Post by jfm on Aug 15, 2016 19:22:16 GMT
But how big a team does a half million platform support?
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jonno
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Post by jonno on Aug 16, 2016 11:33:22 GMT
But how big a team does a half million platform support? Well I sincerely hope it's more than one, or we could all be in trouble.
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