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Strettie11

PanAC

According to the Sligo board RB Hair is definitely closed.

Cute Hoor

PanAC wrote: »

Just to put a little context to my defaults -

EQ Community Festivals Ltd €120 @ 14.4%
Manor Brands €1850 @ 9.9% & 9.8%
Another Manor Brands € 170 @ 9.9%
Roobell Ltd €1000 @ 10.6%
M.K. Country Fresh Eggs € 340 @ 10.6%
Karen Garvin Kinsale Health € 280 @ 9.5%
Pearse Roofing and Cladding € 190 @ 10.3%

Its a learning curve. After the Manor Brands loan default, I limited my lending to €200 max per loan.
I invested €44550 back when, and that has bought a total of €88280 worth of loans. I'm now in the process of withdrawingmost of it and spreading it among Mintos, Bondora, and Twino. Withdrew over €10800 so far.
I had 276 loans, of which 10 finished early, 260 still repaying, and defaults from the six companies.
I still pick up any Ys and a few Cs but never more than €50 a spin (with my Lotto money)
Rant rant rant... ... ...

I'd be hopeful that EQ Community Festivals will repay (at least some), they have engaged with LF and say it is their intention to repay. Manor Brands, Roobell, M.K., Pearse, fortunately I dodged a bullet on these so no idea of the repayment prospects. Nothing will be coming from Karen Gavin and it appears she is in difficult circumstances so my sympathies are with her. I've also been caught by Dog eat Dog, the directors haven't engaged with LF who have rightly commenced legal action against the 2 principals. Also on the hook for Absolute Fishing but I'd be hopeful of a positive outcome there as well the way the borrower has engaged with LF. Not too bad on roughly the same number of loans as yourself

Strettie11

E. Q. Community Festivals Ltd
An update on the above loan, a relation of mine has been in correspondence with LF on this loan
He discovered when he looked back at the business profile for the loan that the company had the franchises for
- Abrakebabra Wexford town
- Abrakebabra & O’Briens sandwiches Bridgewater shopping centre Arklow
-
The loan was to be used for the renovation of the Abrakebabra franchise in Wexford.
Rob Murphy’s email detailed the difficulties with the Bridgewater shopping centre leases but made no reference to the Wexford town franchise which would have comprised a significant portion of the revenue and net profit detailed in the loan request and he asked LF to clarify this.
In the meantime a few phone calls were made by my relation and he discovered the Abrakebabra in Wexford was definitely not going into liquidation. Rob Murphy replied to LF and detailed that the Abrakebabra franchise in Wexford was moved out of E. Q. Community Festivals to a new company in order to secure a lease.
Does anyone know how is this possible ? Surely the new company owes the old company something for the acquiring of a major part of the business ?

tadcan

Urgh.. with RB Hair my defaults also went up to 6. On the other hand my first loan, the school food company should complete all their payments in two months, followed by a large chunk of the loans I gave out in the first few months. Like others other then 12-24 month loans, none of the others are in consideration, bar with a recommendation from this thread.

benjamin d

Good to see a few decent Y grade 12 and 24 month loans appearing, I had given up reinvesting but there's a bit of excitement back now... probably an awful reason to invest but sin é...

sceach16

Strettie11 wrote: »

E. Q. Community Festivals Ltd
An update on the above loan, a relation of mine has been in correspondence with LF on this loan
He discovered when he looked back at the business profile for the loan that the company had the franchises for
- Abrakebabra Wexford town
- Abrakebabra & O’Briens sandwiches Bridgewater shopping centre Arklow
-
The loan was to be used for the renovation of the Abrakebabra franchise in Wexford.
Rob Murphy’s email detailed the difficulties with the Bridgewater shopping centre leases but made no reference to the Wexford town franchise which would have comprised a significant portion of the revenue and net profit detailed in the loan request and he asked LF to clarify this.
In the meantime a few phone calls were made by my relation and he discovered the Abrakebabra in Wexford was definitely not going into liquidation. Rob Murphy replied to LF and detailed that the Abrakebabra franchise in Wexford was moved out of E. Q. Community Festivals to a new company in order to secure a lease.
Does anyone know how is this possible ? Surely the new company owes the old company something for the acquiring of a major part of the business ?

It seems to me that Linked effectively give our unsecured loan (without constraints) to the borrower. Their current T+C state
The role of Linked Finance

1. Our role is to facilitate prospective Borrowers and Lenders in negotiating, concluding and completing Loans via Linked Finance in accordance with the terms of this Agreement. We are not a party to any Loan Contracts or Loan Parts (save where we act as a Lender in our own right, in which case we are only a party to the Loan Contracts or Loan Parts we enter into as a Lender in accordance with Section 4).
2. Each lender retains complete control and discretion over whether or not to make a Loan to a Borrower and on what terms, and over all other aspects of the Lender’s participation in Linked Finance. Nothing we do and nothing on Linked Finance shall be construed, or is intended to operate or be construed, as advice or a recommendation by Linked Finance to enter into a particular transaction, or any transaction at all.
3. We accept no responsibility for the accuracy of this Agreement or the provisions or terms of any Loan Contract. You should seek your own independent legal advice prior to entering into a Loan Contract or any other transaction on or in connection

ShoulderChip

La Maison ran with a restaurant voucher offer,I have been emailing them since 19th October and am yet to hear a response, linked finance keep promising they will chase, it is utterly ignorant and unprofessional at this stage.

sceach16

ShoulderChip wrote: »

La Maison ran with a restaurant voucher offer,I have been emailing them since 19th October and am yet to hear a response, linked finance keep promising they will chase, it is utterly ignorant and unprofessional at this stage.

I claimed it on 14 October. I was asked on 7 November for my address to have it mailed. I got it on 18 November.:D

manafana

ShoulderChip wrote: »

La Maison ran with a restaurant voucher offer,I have been emailing them since 19th October and am yet to hear a response, linked finance keep promising they will chase, it is utterly ignorant and unprofessional at this stage.

im same shoulder chip, emailed 3 times, 3rd time with linked in email, no replies

Welruc

Anyone using linked or any other p2p as a long term plan?

Hope to do myself but ive only recently started investing, curious if anyone else has the same idea, or am i stupid and should i be investing else where?

at9qu5vp0wcix7

deuceswild wrote: »

Anyone using linked or any other p2p as a long term plan?

Hope to do myself but ive only recently started investing, curious if anyone else has the same idea, or am i stupid and should i be investing else where?

I intend on using Mintos long-term. By using 20-40 day personal loans and invoice loans, you are giving yourself decent returns along with short-term access to your investment if needed.

manafana

Mila Calm Ax wrote: »

I intend on using Mintos long-term. By using 20-40 day personal loans and invoice loans, you are giving yourself decent returns along with short-term access to your investment if needed.

mintos for first few months just invest in back back guarentee and get feel for it,

Im trialling buying discounted loans on secondary market now for 10euro or less, trying buy loans that could get back on track or have good guarantees, anyone else have much exp of it?

Have auto invest for some buyback loans, but doesnt seem to be working

sceach16

Turnover 278, 000 (2014) , Profit 505 ! Margin 0.18%......2015 Turnover increased to 279,000 ! Profit increased by 136 euros to 641 euros with a margin of 0.22%.

Balance sheet shows shareholders fund/ net assets 5,623 euros (31/12/15).



20,000 funded in 3 hours!!

Cute Hoor

sceach16 wrote: »

Turnover 278, 000 (2014) , Profit 505 ! Margin 0.18%......2015 Turnover increased to 279,000 ! Profit increased by 136 euros to 641 euros with a margin of 0.22%.

Balance sheet shows shareholders fund/ net assets 5,623 euros (31/12/15).



20,000 funded in 3 hours!!

That's what you get with the Autobid, most of it probably funded before those investors got a chance to look at it.

manafana

the latest email is cringe

Strettie11

Treat cafe is on LF looking for 50000 and is now on GRID Finance looking for 25000 with no reference on either loan request to the loan request on the other platform

ShoulderChip

sceach16 wrote: »

ShoulderChip wrote: »

La Maison ran with a restaurant  voucher offer,I have been emailing them since 19th October and am yet to hear a response, linked finance keep promising they will chase, it is utterly ignorant and unprofessional at this stage.

I claimed it on 14 October. I was asked on 7 November for my address to have it mailed. I got it on 18 November.:D

Does it actually get posted? maybe he is resisting my UK address? I assumed it would be a PDF, is there an expiry? god knows when I get the damn thing, three more emails with no reply.

tadcan

manafana wrote: »

the latest email is cringe

I presume that is to divert all the money people spend on Christmas and keep them on the LF platform. Though I wondered why it was one person getting a years supply of beer and not twelve people get on case of beer, if the goal was to get new customers and give a better incentive.

manafana

tadcan wrote: »

I presume that is to divert all the money people spend on Christmas and keep them on the LF platform. Though I wondered why it was one person getting a years supply of beer and not twelve people get on case of beer, if the goal was to get new customers and give a better incentive.

bidding on every loan, and encouraging the autobid use to do so, know well what their trick is, would been much better as a bid on 10 or more offer.

Anyway Mintos is my main plan now, slowly pulling out of lf

sceach16

This is a B rated loan.
Turnover 278, 000 (2014) , Profit 505 ! Margin 0.18%......2015 Turnover increased to 279,000 ! Profit increased by 136 euros to 641 euros with a margin of 0.22%. Balance sheet shows shareholders fund/ net assets 5,623 euros (31/12/15).


A "C"rated has turnover 426 k, profit 13k. Margin after interest and tax 3% (28/2/15). For Y/E 28/2/16, turnover 413k, profit 6.3k with a margin down to 1.5%. Balance sheet net assets 41k. Credit score 100 vision net and an existing customer of linked. 22 months repaid! :eek: and it's a C !

In my opinion, the first loan is not a B.......

sceach16

ShoulderChip wrote: »

Does it actually get posted? maybe he is resisting my UK address? I assumed it would be a PDF, is there an expiry? god knows when I get the damn thing, three more emails with no reply.

Yes, it is a physical voucher. On their previous loan, the voucher (for a glass of prosecco) was emailed! No obvious expiry but can't use it in December!

ShoulderChip

Cheers, I guess that answers my other unanswered question by him when trying to book a table for his restaurant!

sceach16

sceach16 wrote: »

Payment due today11Nov .....not received as of 14.30. Other loan's payments
received.

18.00 11 Nov....See linked email re this loan and email from business owner! Reasonable response.

All change....not paying....gone to collection agency!

Dream123

sceach16 wrote: »

All change....not paying....gone to collection agency!

Once a linked finance loan goes into arrears I assume I'm not seeing the outstanding balance again

I have about 5 arrears loans now, luckily none too big, so I guess its part of the risk of investing, anyway seems to be plenty of email updates on them but none have re started payment again

sceach16

Strettie11 wrote: »

Treat cafe is on LF looking for 50000 and is now on GRID Finance looking for 25000 with no reference on either loan request to the loan request on the other platform

This is no longer showing as a live loan. Last I saw was c70% funded with a day to go. What happened?

Strettie11

sceach16 wrote: »

This is no longer showing as a live loan. Last I saw was c70% funded with a day to go. What happened?

This may answer it answer posted on GRID finance answering question "You are also seeking €50,000 on Linked Finance platform why ?"

Thank you For your interest and Question. We had process started with linked prior to Restaurant Association awareness around Grid. the Merchant cash advance was not available form them and we were not interested in that service from Elavon which was initial proposal from grid. Now that it is available from grid from AIB is a better commercial proposition for the us and we will only be availing of one the services. we are not seeking double funding. Hope that answers your Question.

manafana

New loan is for 150k, I like the business area, like the concept, and mostly get why they might need to crowd fund since before they havn't gone to banks. What does everyone think?

negative equity but if the other balance is confirmed as directors loans then doesn't look bad one to get involved in

losttheplot74

One bidder has €50,000 on the Iconic loan.

tomwaits48

manafana wrote: »

New loan is for 150k, I like the business area, like the concept, and mostly get why they might need to crowd fund since before they havn't gone to banks. What does everyone think?

negative equity but if the other balance is confirmed as directors loans then doesn't look bad one to get involved in

why one is this, I don't see anything for 150k as live when I log in or in the previously successful loans section

Strettie11

tomwaits48 wrote: »

why one is this, I don't see anything for 150k as live when I log in or in the previously successful loans section

Same here I see no loan for 150000