adrianc
Member of DD Central
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Post by adrianc on Feb 15, 2017 13:41:31 GMT
"The borrower is an individual whose company has been established for 15 years..." Excuse my ignorance, but what does that mean? Is the borrower an individual, or a company? Its another of their sloppy and meaningless bulls**t phrases that someone at SS thinks will impress lenders. Whereas what we need is a meaningful synopsis of the borrowers status and experience. I'm going to go through the loanbook and compile a list of all this nonsense I suspect what they mean is that the borrower is a sole trader whose business activities have been established for 15yrs. But, yes, it's rather worrying that they don't seem to understand the basic legal entities. The irony is that I'd be happier knowing he was a sole trader, with unlimited liability to the extent of his personal wealth, than just having some mealy-mouthed easy-to-wriggle personal guarantee above the limited company.
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am
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Post by am on Feb 15, 2017 14:27:38 GMT
I suspect what they mean is that the borrower is a sole trader whose business activities have been established for 15yrs. But, yes, it's rather worrying that they don't seem to understand the basic legal entities. The irony is that I'd be happier knowing he was a sole trader, with unlimited liability to the extent of his personal wealth, than just having some mealy-mouthed easy-to-wriggle personal guarantee above the limited company. The company named on the VR is 5 years old. The principal's oldest company was formed 25 years ago (1992), but went into voluntary liquidation in 2008 (with a winding up order shortly thereafter) and was dissolved in 2010. His oldest active company is 14 years old (which it is not completely unreasonable to round to 15 years).
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Post by portlandbill on Feb 15, 2017 15:24:27 GMT
The borrower has now been amended to "The borrower is a company incorporated in September 2015." following a quick response to my question in the Q&A field. SS have given me the name of the company which, I guess, I'm not allowed to name here.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 15, 2017 15:26:46 GMT
Just gone Live
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twoheads
Member of DD Central
Programming
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Post by twoheads on Feb 15, 2017 15:28:33 GMT
1208 investors at 'go live'.
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ganymede
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Member is Online
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Post by ganymede on Feb 15, 2017 15:31:07 GMT
Allocation £1800 pre-funding set to £10k.
Same thing will sell out tomorrow.
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am
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Post by am on Feb 15, 2017 16:18:00 GMT
The borrower has now been amended to "The borrower is a company incorporated in September 2015." following a quick response to my question in the Q&A field. SS have given me the name of the company which, I guess, I'm not allowed to name here. Is it W* G* I*?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 15, 2017 16:20:48 GMT
The borrower has now been amended to "The borrower is a company incorporated in September 2015." following a quick response to my question in the Q&A field. SS have given me the name of the company which, I guess, I'm not allowed to name here. Is it W* G* I*? L* W* D*
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Post by portlandbill on Feb 15, 2017 16:49:44 GMT
Yep, L.... W.... D.............. Ltd
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twoheads
Member of DD Central
Programming
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Post by twoheads on Feb 17, 2017 15:50:29 GMT
Loan drawn down at 15:44.
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Post by harryvederci on Sept 1, 2018 14:24:19 GMT
The borrower has agreed to provide copies of new Lender Offers in Principle in addition to a link for the submitted planning application in due course.
err the planning application link has been on Purple for anyone to read all the documents since June
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Post by picanto on Oct 18, 2018 13:23:53 GMT
This loan has been repaid. I almost couldn't believe it when I saw it on the repaid tab as they have been few and far between in recent months.
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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 Oct 18, 2018 13:30:03 GMT
This loan has been repaid. I almost couldn't believe it when I saw it on the repaid tab as they have been few and far between in recent months. Yep, email thanking me for my investment received just after 2pm which was confusing as I sold out a while ago. Hopefully, the refinance of the borrowers other loan will be following shortly.
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neal
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Post by neal on Oct 19, 2018 13:00:54 GMT
I also received an email thanking me for my investment, The thing is I didn't invest in it. Lendy just showing off that they actually got an investment repaid I suppose.
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