Steerpike
Member of DD Central
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Post by Steerpike on Oct 26, 2016 15:02:37 GMT
1st loan appears somewhat uninspiring, small family run cafe, 5yrs 15k unsecured up to 12%, a bit like REBS but at a much lower rate.
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Liz
Member of DD Central
Posts: 2,426
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Post by Liz on Oct 26, 2016 18:33:34 GMT
1st loan appears somewhat uninspiring, small family run cafe, 5yrs 15k unsecured up to 12%, a bit like REBS but at a much lower rate. From a site that has lofty ambitions, this is somewhat of a disappointment. Also under company in the market place, it says "Why is it safe to lend?" Safe!!! And the FCA gave this outfit full authority!
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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: 11,329
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Post by ilmoro on Oct 26, 2016 18:47:41 GMT
Was there an email? Despite promises that the platform launch would eliminate email issues I have received nothing
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Oct 26, 2016 18:49:28 GMT
So this cafe increased sale but profit fell and they only made £3337 after tax, that's £278 per month and the monthly payment on the existing borrowings are £352.94pm; that's excluding this requested loan? And how are the owners actually affording to live?
I wouldn't touch this @ 20% pa.
I still didn't get an e-mail either.
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Oct 26, 2016 20:18:23 GMT
Was there an email? Despite promises that the platform launch would eliminate email issues I have received nothing No e-mail - only found out myself because of this forum
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n
Member of DD Central
Yet another Nick
Posts: 881
Likes: 461
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Post by n on Oct 26, 2016 20:28:51 GMT
Was there an email? Despite promises that the platform launch would eliminate email issues I have received nothing No e-mail - only found out myself because of this forum Me too.
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justsaying
Member of DD Central
Posts: 112 
Likes: 66
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Post by justsaying on Oct 27, 2016 11:41:03 GMT
Me three - not impressed! Is it really that hard to get customer/investor engagement right?!  |
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star dust
Member of DD Central
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Post by star dust on Oct 27, 2016 11:46:29 GMT
I've just received an email entitled 'Peer Funding Newsletter', I'm posting the contents here in case anyone doesn't receive it. I hope Peer Funding don't object! Somewhat ironically I haven't yet signed up, may not do so now as it all sounds a bit underwhelming and I'm currently away.
"Peer Funding is delighted to announce our first borrowing request is live on the www. peerfunding. co. uk platform.
In getting to this listing we've rejected a few requests along the way which fell outside of our gateway criteria. There's more to list over the coming days, and we would welcome an expression of interest, or not, over the following opportunities:
Selective Debtor Invoice Finance, £25,000 for a 60 day term. Profitable, multiple invoices to an established debtor, Risk Band A for the debtor and C for borrower, indicative rate 1.0-1.2% per 30 days
Business Loan, £110,000 for 60 months. A well established company, profitable, growing, improving financial trends, Risk Band B, indicative rate 9-12% pa
Property Development loan, £117,000 for 6 months. A conversion and refurb of shop/flat - proven experienced developer, Risk Band B, GDV 60%, indicative rate 9% pa
Property Development loan, £1,100,000 for 12 months. A very experienced developer, Risk Band B, loan to GDV phase 1 56%, indicative rate 9%pa, then separate £1.4m phase 2 expected Risk Band A, loan to GDV 45%, also 12 months, indicative rate 9% pa.
Estimated returns are a forecast and not a reliable indicator of future results. All estimated returns are before tax and bad debts. Please see our full risk warning at the end of this newsletter.
Innovative Finance ISA
We've been working hard on the Innovative Finance ISA and hope to announce a timeline to launch this facility very soon.
Funding round complete
Peer Funding are also very pleased to confirm the completion of an equity funding round with the venture capital firm N********* V*******, and the opening of a second office in Newcastle Upon Tyne. We are delighted to be working with N********, this funding underpins our plans for origination and growth, and importantly it strengthens our presence in the North East."
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upland
Member of DD Central
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Post by upland on Oct 27, 2016 11:58:58 GMT
There has been a pipeline of loans circulated just now :-
Selective Debtor Invoice Finance, £25,000 for a 60 day term. Profitable, multiple invoices to an established debtor, Risk Band A for the debtor and C for borrower, indicative rate 1.0-1.2% per 30 days
Business Loan, £110,000 for 60 months. A well established company, profitable, growing, improving financial trends, Risk Band B, indicative rate 9-12% pa
Property Development loan, £117,000 for 6 months. A conversion and refurb of shop/flat - proven experienced developer, Risk Band B, GDV 60%, indicative rate 9% pa
Property Development loan, £1,100,000 for 12 months. A very experienced developer, Risk Band B, loan to GDV phase 1 56%, indicative rate 9%pa, then separate £1.4m phase 2 expected Risk Band A, loan to GDV 45%, also 12 months, indicative rate 9% pa.
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SteveT
Member of DD Central
Posts: 6,875
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Post by SteveT on Oct 27, 2016 12:10:29 GMT
Ok, on this evidence I'll not be taking up my Founder Investor offer
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Liz
Member of DD Central
Posts: 2,426
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Post by Liz on Oct 27, 2016 12:31:09 GMT
I finally got an e-maill from them, i'm not impressed with the pipeline and rate on those loans.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Oct 27, 2016 15:30:22 GMT
I didn't get the email, also disinclined to take up the offer.
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dandy
Posts: 427
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Post by dandy on Oct 27, 2016 16:40:41 GMT
give them a chance guys, you cant expect a platform to launch and have a huge pipeline immediately
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Oct 28, 2016 7:04:08 GMT
I wouldn't normally mind a slow wind up of investments, but if they want you to place £5,000 or £10,000 on the platform it would be nice if there was something to invest in.
Does anyone know when the money has to be on the site to be eligible for the offer? I can't see anything in the terms, and I don't seem to get emails. It may already be too late...
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Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
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Post by Liz on Oct 28, 2016 22:01:09 GMT
Awesome, another unsecured loan! Cluefinder has this sussed, bidding at 10% on unsecured loans, where you can bid at 12%. These loans should be on Rebs @ 18% and they wouldn't fill.
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