Post by james on Sept 11, 2015 7:38:19 GMT
I think that it would be useful to have a topic in the general section where platforms that are trying to fill a large for them loan could mention it to help them to generate more participation. Mainly of interest to help to encourage th growth of the smaller platforms and increase the loan size and filling success capability of P2P in general.
This is prompted in part by two platforms that I know are likely to have far larger loans than usual that they would like to fill, even ten or more times their normal size. I think that we can and should help them to get the job done.
Deciding what is a stretch for a particular platform will take some human judgement but non-advertised loans would typically be expected to fill in a few days, say a week maximum, while a stretch loan might take several weeks or not fill at all without assistance. This leads to a general initial guideline that if a loan fill time is expected to exceed a week based on past loan experience, it's eligible for promotion. Also a cap of one loan per week per platform per week and no repeats unless a loan has not filled after three whole weeks have elapsed, except as a brief mention of funds raised so far/target at the end if another loan is being mentioned. And a requirement that a loan must have been open for funding by the normal site members for at least 48 hours before the ad is placed, so a site's normal members have a good chance to participate first, before a more general seeking for money. Lenders experienced with a particular platform can provide guidance if necessary on whether a particular loan does looked likely to qualify.
Some examples:
Ablrate: 150k upwards are currently likely to take a week or more to fill, 250k up for planes.
MoneyThing: 150k and under looks likely to fill inside a week maybe as high as £250k would. So perhaps 200k threshold for now? Might be too low still, opinions?
SavingStream: more than the total amount precommitted plus say 20% is likely to be the lower bound for potential mentions because that level is likely to fill within a day. Actual limit is likely to be higher. Not sure what threshold to suggest, don't track fill times closely enough.
What do mods and others think?
This is prompted in part by two platforms that I know are likely to have far larger loans than usual that they would like to fill, even ten or more times their normal size. I think that we can and should help them to get the job done.
Deciding what is a stretch for a particular platform will take some human judgement but non-advertised loans would typically be expected to fill in a few days, say a week maximum, while a stretch loan might take several weeks or not fill at all without assistance. This leads to a general initial guideline that if a loan fill time is expected to exceed a week based on past loan experience, it's eligible for promotion. Also a cap of one loan per week per platform per week and no repeats unless a loan has not filled after three whole weeks have elapsed, except as a brief mention of funds raised so far/target at the end if another loan is being mentioned. And a requirement that a loan must have been open for funding by the normal site members for at least 48 hours before the ad is placed, so a site's normal members have a good chance to participate first, before a more general seeking for money. Lenders experienced with a particular platform can provide guidance if necessary on whether a particular loan does looked likely to qualify.
Some examples:
Ablrate: 150k upwards are currently likely to take a week or more to fill, 250k up for planes.
MoneyThing: 150k and under looks likely to fill inside a week maybe as high as £250k would. So perhaps 200k threshold for now? Might be too low still, opinions?
SavingStream: more than the total amount precommitted plus say 20% is likely to be the lower bound for potential mentions because that level is likely to fill within a day. Actual limit is likely to be higher. Not sure what threshold to suggest, don't track fill times closely enough.
What do mods and others think?
