kermie
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Post by kermie on Oct 24, 2015 23:33:33 GMT
I stumbled over this: www.selective-invoice-finance.co.uk/which is an AC site to attract invoice-financing clients via AC's arrangement with IFG. I guess in time this may well come to the retail lenders, but probably only after several invoice deals have been worked through in order to flush out the processes. |
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jonah
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Post by jonah on Oct 25, 2015 9:28:17 GMT
Seems to be some form of joint venture based on the details on the about us page. IFG are in 30 countries etc. The was an update from andrewholgate about the new lead for IF making progress on contacts and delivering deals a while back... I wonder if there is any further news. |
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bigfoot12
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Post by bigfoot12 on Oct 25, 2015 9:44:34 GMT
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Post by Ton ⓉⓞⓃ on Oct 25, 2015 10:22:34 GMT
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am
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Post by am on Oct 25, 2015 16:54:45 GMT
Even if they didn't let us at individual loans I thought that they might have offered packaged accounts (with/without a protection fund), or used invoice financing loans to provide the income for the QAA. A fixed size packaged account could be used to underwrite invoice finance loans while maintaining near to 100% investment.
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Post by crabbyoldgit on Oct 25, 2015 17:35:10 GMT
I know very little about this but my feeling its structure is for short term loans to cover cash flow issues so probably quite relative high interest rates i would have thought as the security is future payments for work completed or nearing completion not hard physical assets.have i got the right end of the stick here.
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upland
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Post by upland on Oct 25, 2015 18:31:56 GMT
I stumbled over this: www.selective-invoice-finance.co.uk/which is an AC site to attract invoice-financing clients via AC's arrangement with IFG. I guess in time this may well come to the retail lenders, but probably only after several invoice deals have been worked through in order to flush out the processes. Very good find kermie. I have been badgering AC about this and I believe that it was soon to appear (H2  ). Lots to find out and detail to establish. I was hoping that AC would be able to bring this new asset class to the 'masses' as the loan size with other players is large. I have heard mixed reports of its success for the private investor and had wondered if with the current larger loan size it was difficult to diversify well enough to get a stable return. I guess the detail will emerge soon.
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Post by Ton ⓉⓞⓃ on Oct 25, 2015 22:49:47 GMT
ISTR someone suggesting the issue with invoice financing for the masses is that IF needs to be quick to be useful but then there's no chance for good DD by us lenders. If AC are going to make it work for the little people, they are probably frantically beavering away coming up with one of their cunning accounts where we can participate without choosing... I think one of the issues is the full deployment of capital. It's difficult or impossible to get all of your money lent due to the nature of the beast. I wonder though if the QAA a/c is in some way based on solving the same issues? I wonder if the QAA actually came out of trying to build an account for IF. The QAA only invests ~45% of the money the IF a/c will invest more but never 100% but perhaps 80 or 90%
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bigfoot12
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Post by bigfoot12 on Oct 25, 2015 23:24:59 GMT
ISTR someone suggesting the issue with invoice financing for the masses is that IF needs to be quick to be useful but then there's no chance for good DD by us lenders. If AC are going to make it work for the little people, they are probably frantically beavering away coming up with one of their cunning accounts where we can participate without choosing... From the original discussions by AC people at the time of the December announcement, invoice financing would be a packaged product only paying 5%-7% with a provision fund. No need or ability for us to do any DD.
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am
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Post by am on Oct 26, 2015 8:46:12 GMT
ISTR someone suggesting the issue with invoice financing for the masses is that IF needs to be quick to be useful but then there's no chance for good DD by us lenders. If AC are going to make it work for the little people, they are probably frantically beavering away coming up with one of their cunning accounts where we can participate without choosing... From the original discussions by AC people at the time of the December announcement, invoice financing would be a packaged product only paying 5%-7% with a provision fund. No need or ability for us to do any DD. I would have hoped that they could have offered us a better rate than that - I was hoping for 9%-10%.
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Post by wiseclerk on Oct 26, 2015 10:27:53 GMT
ISTR someone suggesting the issue with invoice financing for the masses is that IF needs to be quick to be useful but then there's no chance for good DD by us lenders. If AC are going to make it work for the little people, they are probably frantically beavering away coming up with one of their cunning accounts where we can participate without choosing... Investly said at the conference that they will move into invoice financing and investors have full control over which invoices they want to buy.
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mikes1531
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Post by mikes1531 on Oct 26, 2015 15:30:00 GMT
... the platform's fee (25% at £100k) and the tax treatment (taxed on gross before fee)... That tax treatment is a killer for higher-rate taxpayers. When other P2P platforms realised the tax situation, they quickly rearranged their fee charging system to avoid the problem. They increased the spread between the rates they charge their borrowers and the rates their investors get, and stopped charging a lender's fee. I'm really surprised MI hasn't done the same. Is there any reason they couldn't? It would make them so much more attractive. Even basic-rate taxpayers would notice and appreciate the difference.
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Post by Ton ⓉⓞⓃ on Oct 11, 2016 10:54:58 GMT
The smallest loan in the pipeline (£20k) is to a startup invoice finance co. for just £20k but with an facility to £3mm. AC's recent experience I guess makes them ideal. Anyway rate to lenders 10%. So far only the CR is visible, but I find this interesting. Can anyone summarise the security? I take the Borrower seed capital (50k) to be the PF, but with 1%+1% in future from AC( ) and Borrower so it grows. Insurance up to 90% face value of each debt Assignment of all Invoices funded PG'sx2 (one abroad) each £100k Debenture over newco. |
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bigfoot12
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Post by bigfoot12 on Oct 11, 2016 11:34:17 GMT
The smallest loan in the pipeline (£20k) ...Can anyone summarise the security? Not worth reading, will anyone get more than £1?
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Post by Ton ⓉⓞⓃ on Oct 11, 2016 11:53:36 GMT
The smallest loan in the pipeline (£20k) ...Can anyone summarise the security? Not worth reading, will anyone get more than £1? I see what you're saying, but as it's a facility up to £3mm I'm wondering if there will be further tranches from this loan?
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). Lots to find out and detail to establish. I was hoping that AC would be able to bring this new asset class to the 'masses' as the loan size with other players is large. I have heard mixed reports of its success for the private investor and had wondered if with the current larger loan size it was difficult to diversify well enough to get a stable return. I guess the detail will emerge soon.
