will
Member of DD Central
Posts: 107
Likes: 8
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Post by will on Jun 17, 2015 18:40:49 GMT
All this sounds wonderful.
All I need now is to be allowed to logon.
Waited MANY weeks for the new site to come alive now can't even get onto it!
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Post by bracknellboy on Jun 17, 2015 19:05:30 GMT
I should have added a smiley to my post.
Personally I'm happy with 'lower end' rates if the security is very good. In fact my preference is lower rate/lower risk. 9% is on the lower side; I would expect that lenders would hold title to the equipment as a specific asset, and there would have to be a pretty rock solid certainty on a subsequent resale value: and that is the tricky part as it will depend on a number of factors including how specialist it is. Just my ramblings.
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Post by meledor on Jun 17, 2015 19:17:28 GMT
Rather on the low side for me. But I wouldn't rule it out completely. It would depend on how specialised the equipment is (how easy to sell if it comes to it) and the financials of the company. At least as a listed company it will have proper full audited accounts and if the numbers are decent an interest rate discount ought to be justifiable when compared with that obtained by small companies that hide behind abbreviated audit exempt accounts. The key factors in the financials would be existing gearing and how big the I is in the EBITDA number you mentioned.
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ejohn
Posts: 32
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Post by ejohn on Jun 17, 2015 19:38:50 GMT
I should have added a smiley to my post. Personally I'm happy with 'lower end' rates if the security is very good. In fact my preference is lower rate/lower risk. 9% is on the lower side; I would expect that lenders would hold title to the equipment as a specific asset, and there would have to be a pretty rock solid certainty on a subsequent resale value: and that is the tricky part as it will depend on a number of factors including how specialist it is. Just my ramblings. These ramblings get my vote as well. I would like to think that Ablrate is a home for good quality loans around 10-12. Anything lower enters a more competitive area and would have to be ultra secure on resale.
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james
Posts: 2,205
Likes: 955
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Post by james on Jun 17, 2015 19:46:40 GMT
Interest rate is below what I'm really looking for so if I participated it would be reduced participation compared to normal. If I might normally participate at £500 I might participate here at £50. That's not a sufficient reason not to consider it because others will have different thresholds. Particularly any who don't know what's obtainable and might find 9% attractive. Or simply those who have money and who aren't patient. Amortising will attract some as well, though if you describe that you should say what amortising means, "paying off during the loan term, like a mortgage or personal loan".
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Post by ablrate on Jun 18, 2015 8:29:49 GMT
All this sounds wonderful. All I need now is to be allowed to logon. Waited MANY weeks for the new site to come alive now can't even get onto it! Hi Will We wanted to make sure that all passwords were reset, so if you did not get the link sent in the email to everyone hen navigate to the platform, click 'forgot password' and enter your email. You will be sent a link to reset your password. If you still have problems email admin@abl... and they will issue a temporary password. Regards Ablrate
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webwiz
Posts: 1,133
Likes: 210
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Post by webwiz on Jun 18, 2015 8:37:02 GMT
Hi All Just looking to approve a loan but thought I would pass it by you first. It is £250,000 for equipment to a listed company with £17 million plus revenue. Amortising over 3 years 9%..... Thoughts? Regards Ablrate I expect this will fill quite quickly as the terms seem reasonable on what we know so far. The main consideration for you is more a PR thing. Will this send a signal that rates are on the decline? Wellesley lost a lot of early investors when this happened on their platform, but they made up for it with a TV ad campaign. However money spent on ITV is money that could have gone to lenders. I would not like to see abl go this route whilst you have lenders ready to roll.
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Post by ablrateandy on Jun 18, 2015 8:46:18 GMT
I'm sure ablrate will comment when he is free, but our model is focussed on this 10-12pc area. Sometimes we get better, like today, which we will never turn down if it meets our sniff test. Sometimes though there are things that don't quite hit our level but we think have a specific appeal. There's one great deal that should be live in 2 weeks that won't be double digits but I can guarantee you that from the paperwork that I have seen there isn't a better credit that you can invest in in any market, let alone in the P2B space. In those cases we have to let investors decide for themselves and hope that our judgement call is right.
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locutus
Member of DD Central
Posts: 1,059
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Post by locutus on Jun 18, 2015 12:15:45 GMT
How has the LTV been calculated for the shipping containers?
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SteveT
Member of DD Central
Posts: 6,873
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Post by SteveT on Jun 18, 2015 12:30:22 GMT
Final 30% or so of the container loan just filled very rapidly.
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Post by ablrateandy on Jun 18, 2015 12:40:46 GMT
Yup. That accelerated faster than a container ship leaving Shanghai harbour..... . Thanks all for input and investment! The boss is just starting to answer any remaining questions on the site I think.
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Post by wildlife2 on Jun 18, 2015 12:46:48 GMT
I just had five emails in a row! about a new comment. still male in profile
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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: 10,864
Likes: 11,094
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Post by ilmoro on Jun 18, 2015 12:47:36 GMT
Final 30% or so of the container loan just filled very rapidly. Annoyingly, just before I sold the last tranche of Bottles on SM. Slight flaw in the plan there, SM functioning too well! So when's the next loan, guys? [Hungry raptors to feed, once theyve finished with Ed. Flying pigs are just so passé]
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SteveT
Member of DD Central
Posts: 6,873
Likes: 7,918
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Post by SteveT on Jun 18, 2015 12:48:17 GMT
I just had five emails in a row! about a new comment. still male in profile So did I, presumably notifications of the 5 comments added during the auction period. That could become tiresome ...
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james
Posts: 2,205
Likes: 955
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Post by james on Jun 18, 2015 12:49:46 GMT
Congratulations! Time for a celebratory lunch, just post here to let us know.
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