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Post by ablrate on Mar 29, 2016 19:12:21 GMT
Is this intended to be the first of a series of similar loans to this borrower for similar buildings or a one off? Are those first charges on the various buildings and what is the size of the various other guarantees? We do like the people involved with company and the way they go about their business, so if we can assist the group in any other way then we would like to present you those loans too. Yes, its a first charge. The DG/PG is multiple times the loan and the cross guarantee is also the same. Regards Ablrate
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stevio
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Post by stevio on Mar 30, 2016 9:29:21 GMT
Just wondering peoples thoughts on how they feel this loan compares to the MT loans with CB at the moment?
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KoR_Wraith
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Post by KoR_Wraith on Mar 30, 2016 9:57:25 GMT
I opted for this one instead of the MT offerings.
I'm waaaaaay overweight in property so appreciate the alternative nature of this loan. The amortising aspect makes me feel more comfortable with the security.
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ptr120
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Post by ptr120 on Mar 31, 2016 7:33:03 GMT
Agree with the above. I too am overweight on property (I'm also overweight on the MT platform). My holding in this loan is my single biggest holding on any P2P platform, but the amortising nature of the loan, plus the fact that I may sell some down in six months or so mean I'm comfortable. I'd already invested in the MT property loan but the cashback did tempt me to find a bit of spare change down the back of the sofa for the smaller (and therefore more attractive) tranche 2, plus a few coppers for the car stocking loan.
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registerme
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Post by registerme on Mar 31, 2016 7:33:19 GMT
I like it, and bought some, but one thing I don't understand is why a company with a strong group behind it needs to pay 13% for funds.
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pom
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Post by pom on Mar 31, 2016 8:09:10 GMT
I like it, and bought some, but one thing I don't understand is why a company with a strong group behind it needs to pay 13% for funds. I would imagine there'll be some little quirk that sends banks into a "computer says no" spin such that either they won't even talk to them or will only offer really crazy rates....but that when properly evaluated by a human being is not so scarey.
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stevio
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Post by stevio on Mar 31, 2016 10:14:09 GMT
Can someone bid the 74p thats left or can ablrate ablrateandy just put the pence in to close this loan? |
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 31, 2016 10:22:32 GMT
Can someone bid the 74p thats left or can ablrate ablrateandy just put the pence in to close this loan? Done 
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Post by ablrateandy on Mar 31, 2016 10:41:04 GMT
I went in to do it and someone beat me to it  |
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blender
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Post by blender on Mar 31, 2016 12:05:41 GMT
Congratulations in getting this loan filled so quickly.
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Post by meledor on Mar 31, 2016 14:58:28 GMT
I like it, and bought some, but one thing I don't understand is why a company with a strong group behind it needs to pay 13% for funds.
Yes - you would think that the company would be able to sell down the revenue stream from the school and at a lot less than 13%. I think the answer will be found with the bank/other finance providers who could have reached their exposure limit (a "strong group" would not be paying out 90% of its operating profit as interest) or the finance structure or the charge on the group's assets precludes that sort of deal. I also think a "strong group" would have audited accounts, so the lack of such (the unaudited accounts have not been adequately prepared - see comments earlier in the thread) could be part of your answer as it would deter a potential finance provider.
Having said all that I had some of the loan but it would have been a lot more but for the above.
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