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Duckett

Interesting article on LF

http://www.irishtimes.com/business/financial-services/irish-lender-linked-finance-in-major-fundraising-push-1.2804949

FinanceDublin

Timepoint funds returned.

FinanceDublin

spudwould wrote: »

I have put the following question to LF:

Hi I am contacting you regarding the loan: Pure Green Juice Ltd.
Looking back you supplied the financial summary for year ending 2015 stating they made a profit of €600,192.
1. Can you verify this figure please.
3. Can you verify how you validated this figure as they only made a profit of €48,562 the previous year over 4 months
2. Can you verify if the company went into liquidation if so how did this come about?

Also can you advise on loan Evo Fitness, which is now a bad debt, they paid a 31% against a months payments .. when will this be paid into my account?

Annoyingly I can't post a URL here as I'm a new user, but as a regular purchaser, I stopped purchasing after they were served with a closure order in late 2014. I suspect I wasn't alone and many local stockists soon stopped stocking it.

spudwould

FinanceDublin wrote: »

Annoyingly I can't post a URL here as I'm a new user, but as a regular purchaser, I stopped purchasing after they were served with a closure order in late 2014. I suspect I wasn't alone and many local stockists soon stopped stocking it.

Annoyingly when I tried to edit my thread, advising that LF(Conor) have got back to me, I somehow DELETED my thread :mad::eek:

Anyways LF advised the the figures were a "projected statement" :eek:
They also advised that they are pursuing the loan to the end.

I said it would be better if it stated that the figures were projected figures and not a statement "summary".

darragh0000

I see the 'JW Hire' loan amount was reduced, now its at 30,000, started at 40,000

ChrisDub7

ha sure, try to grab 40K and if it doesn't work we will take 30 ... I don't like this attitude

darragh0000

somebody lent 10k (5 x €2,000) on the ILEN Seafoods loan!

sceach16

darragh0000 wrote: »

somebody lent 10k (5 x €2,000) on the ILEN Seafoods loan!

If they like it,why not? my only concern would be that lenders would spread their risk but it is up to them!

darragh0000

ok just havent seen anything over 2000 so far, so thought it was very risky

Strettie11

Seems strange to make 5 separate bids of 2000 in less than 3 minutes

sceach16

Strettie11 wrote: »

Seems strange to make 5 separate bids of 2000 in less than 3 minutes

Max bid is 2000 but if U want to,U can do lots of bids....if U have the cash!

FinanceDublin

9.2%. Only 12 months. In good shape and been around a while. Don't think it's a big issue.

scheister

went to make my first withdrawl from LF on sunday night. Sent the email to them and have heard nothing since

darragh0000

'JC Products' was due to finish today, only 50% funded and the borrower has left all questions unanswered. Now its been extended by 10 days - linkedfinance shouldnt extend in a case like this where the borrower makes to effort to respond to lenders.

Leedsfan123

JC looks like a decent one to me and I know a lad in the pub business who deals with him, he gave me a good reference. I don't like seeing loans extended either, but it'll still be less than the two week auctions they used to offer (I think). As for the questions, they all appeared in the last two days, I'm holding judgement until the end of the week. If he hasn't answered by then I'll agree with you ("no effort to respond"). For now I'll give him the benefit of the doubt and assume he's busy running the company.

darragh0000

Leedsfan123-JC looks like a decent one to me and I know a lad in the pub business who deals with him, he gave me a good reference. I don't like seeing loans extended either, but it'll still be less than the two week auctions they used to offer (I think). As for the questions, they all appeared in the last two days, I'm holding judgement until the end of the week. If he hasn't answered by then I'll agree with you ("no effort to respond"). For now I'll give him the benefit of the doubt and assume he's busy running the company.

I'm almost certain that question from 'GALPORT' was there on the day the loan was added, 22nd Sept, that would mean they've had 22,23,24,25,26,27,28 to answer - 7 DAYS

Leedsfan123

I stand corrected; I thought it had only been 2 or 3 days. I still like the business, but you're right and the borrower should get around to answering the questions asked

PanAC

L'Ombre were also due to close tonight with only 44% funding. Surprise surprise, they have just extended their offering for another 12 days! Why would lenders be reluctant to support such an excellent small business? Has LF ever given two extensions to a funding offer? Interesting to watch!

darragh0000

"PanAC : L'Ombre" have also failed to generate much interest
L'Ombre were also due to close tonight with only 44% funding. Surprise surprise, they have just extended their offering for another 12 days! Why would lenders be reluctant to support such an excellent small business? Has LF ever given two extensions to a funding offer? Interesting to watch!

The first business profile started with:

My name is Mohamed Alkurd and I am the owner of L'OmBré Hair & Beauty and Saphora Hair & Beauty salons. Limited Name: Milan Professional Ltd. We operate from three prime locations in Dublin.

for some reason linkedfinance have now removed the owners name:

L'OmBré Hair & Beauty and Saphora Hair & Beauty salons are the premium destinations in Dublin for high quality service and value in the hair and beauty sector. Limited Name: Milan Professional Ltd. We operate from three prime locations in Dublin.

(old profile can be found using google)

sceach16

darragh0000 wrote: »

I'm almost certain that question from 'GALPORT' was there on the day the loan was added, 22nd Sept, that would mean they've had 22,23,24,25,26,27,28 to answer - 7 DAYS

I put a question several days ago which Linked have not allowed on the site.

This is it
"Your most recent figures show a profit margin of less than1%. Your stock and debtors figures are high---2 and 4 months sales. Other liabilities and creditors are also high. Can you comment with more detail, please."

scheister

i notice La Maison are offering an incentive to bid. Would i be correct that this is the first company to offer and incentive under the new system

sceach16

scheister wrote: »

i notice La Maison are offering an incentive to bid. Would i be correct that this is the first company to offer and incentive under the new system

Yes, I think it is a first. It is also a good offer....credit of 10% flat (and net...not taxable) for a 36 month loan is about 5% pa over the average life (say 2 years) plus the taxable income makes a good return.

It is also a very good restaurant ! Declaration...I just bid 250!

sceach16

sceach16 wrote: »

I put a question several days ago which Linked have not allowed on the site.

This is it
"Your most recent figures show a profit margin of less than1%. Your stock and debtors figures are high---2 and 4 months sales. Other liabilities and creditors are also high. Can you comment with more detail, please."

Amazing! It is now on the site! Linked don't monitor this forum! but no questions answered yet on site

manafana

sceach16 wrote: »

Yes, I think it is a first. It is also a good offer....credit of 10% flat (and net...not taxable) for a 36 month loan is about 5% pa over the average life (say 2 years) plus the taxable income makes a good return.

It is also a very good restaurant ! Declaration...I just bid 250!

Yeah have eaten their, so invested myself ownership is good from when i meet them

darragh0000

Originally Posted by PanAC
L'Ombre were also due to close tonight with only 44% funding. Surprise surprise, they have just extended their offering for another 12 days! Why would lenders be reluctant to support such an excellent small business? Has LF ever given two extensions to a funding offer? Interesting to watch!

Loan amount was reduced from 42,500 to 30,000 today and a special offer added.

Strettie11

darragh0000 nothing is getting past you

tomwaits48

Cairns Construction have settled their loan. Rate was 11%.

Strettie11

Analysis of Loans since 1st September



https://app.powerbi.com/view?r=eyJrIjoiYzAxYzhjOGItYTc5ZC00MDkwLWFiMDQtYmY1OTJhZjZkNTJlIiwidCI6ImZjOWU1ODMzLTc0MTEtNDI0Zi1hMjk3LTE4OTgyNzliNzI0YiIsImMiOjh9

sceach16

darragh0000 wrote: »

I'm almost certain that question from 'GALPORT' was there on the day the loan was added, 22nd Sept, that would mean they've had 22,23,24,25,26,27,28 to answer - 7 DAYS

sceach16 wrote: »

Amazing! It is now on the site! Linked don't monitor this forum! but no questions answered yet on site

This loan is 14 days on Linked and not a question answered. Draw your own conclusion!

Strettie11

Just looking at the numbers issued today by LF on first 50 loans, it looks like they have included JW Hire as a fully funded loan despite the fact the loan was reduced by 25% ( €40,000 to €30,000)