LinkedFinance - new website

Trend Setter in Training

Wheety wrote: »

Farm Foods late again. Is there any punishment for a late payment?

Win a special prize of taking out another tranche of loan from LF and receive Grade A score...

fflynn

Mink Hand & Foot Spa

3rd loan live now. profile states 'Lenders of Linked Finance may be familiar with us as we raised two short term loans on the platform last year.'.

They still have 27 payments left out of 36, dont think they made that clear.

The profile doesnt mention the 150k loss in 2016. net assets -163k.

tomwaits48

fflynn wrote: »

Mink Hand & Foot Spa

3rd loan live now. profile states 'Lenders of Linked Finance may be familiar with us as we raised two short term loans on the platform last year.'.

They still have 27 payments left out of 36, dont think they made that clear.

The profile doesnt mention the 150k loss in 2016. net assets -163k.

I think companies shouldn't be allowed have more than 2 loans on the go at one time. This is ridiculous. TileHaven was another one.

chris2000

Anyone find it strange that it is now mid Aug and linkedfinance still have not released the Q2 loan book report?

fflynn

chris2000 wrote: »

Anyone find it strange that it is now mid Aug and linkedfinance still have not released the Q2 loan book report?

https://blog.linkedfinance.com/loan-book-report-q2-2017

sceach16

chris2000 wrote: »

Anyone find it strange that it is now mid Aug and linkedfinance still have not released the Q2 loan book report?

They did publish on their blog on 7 July. They did not circulate an email as they have done previously.

Wheety

For some reason I set up an auto bid for 12 month loans on A, B and c class loans. Still can't loan the money as one today was for only €20k so is gone already. I'll withdraw my first sum of money today and move it over to Mintos. It's much more liquid there anyway and can sell the loans if I need the money quicker.

benjamin d

Anyone else having severe trouble getting their money into a loan recently? I'm trying to avoid 36 month loans and A-B rated loans, but that's all there seems to be lately. And even then they're all getting funded instantly!

Cute Hoor

benjamin d wrote: »

Anyone else having severe trouble getting their money into a loan recently? I'm trying to avoid 36 month loans and A-B rated loans, but that's all there seems to be lately. And even then they're all getting funded instantly!

This is as a result of the autobid facility. Unless you set up your autobid at the very beginning you haven't a chance of getting in on those loans now. I'm getting a bit of lending done, probably enough as I'm winding down my involvement. When I signed up first I was able to have a look at the business and decide for myself whether I wanted to invest or not, now I can be investing in businesses that I wouldn't touch with a pole and missing out on businesses that I would like to support. Totally different business model now and totally unattractive to me.

benjamin d

Cute Hoor wrote: »

This is as a result of the autobid facility. Unless you set up your autobid at the very beginning you haven't a chance of getting in on those loans now. I'm getting a bit of lending done, probably enough as I'm winding down my involvement. When I signed up first I was able to have a look at the business and decide for myself whether I wanted to invest or not, now I can be investing in businesses that I wouldn't touch with a pole and missing out on businesses that I would like to support. Totally different business model now and totally unattractive to me.

Yes, I have autobids set up for 12 and 24 month loans at grade C+ but they're few and far between these days. I'm trying to wind down my investment so I'm not interested in 36 month loans, and I don't feel the interest rates on As and Bs are nearly worthwhile.
When you include idle time at the end of your investment before withdrawal it means a loan at 8 or 9% minus fees and taxes would almost be as well in a savings account at 2% or less.

stephenmario

benjamin d wrote: »

Yes, I have autobids set up for 12 and 24 month loans at grade C+ but they're few and far between these days. I'm trying to wind down my investment so I'm not interested in 36 month loans, and I don't feel the interest rates on As and Bs are nearly worthwhile.
When you include idle time at the end of your investment before withdrawal it means a loan at 8 or 9% minus fees and taxes would almost be as well in a savings account at 2% or less.

I'm doing the same. I'm only doing 12 month loans now and will close my account next year. The low rates & idle time on the balance on my account was really killing me sometime around 18 months ago. I'm not going to be particularly up money once everything is paid for compared to 5 year post office bond.

tomwaits48

Can anyone find the withdrawal option on mobile?

Wheety

tomwaits48 wrote: »

Can anyone find the withdrawal option on mobile?

Haven't looked on mobile but I know you need to send them photo id and address proof to have the withdrawal facility enabled.

fflynn

Does anyone have a copy of the 'old' terms of service or do you know what the small change is in the new terms?

sceach16

Craftworks Brewery
Brewing Up Some Great Returns..



Payment missed after 6 months!!!!

FinanceDublin

stephenmario wrote: »

I'm doing the same. I'm only doing 12 month loans now and will close my account next year. The low rates & idle time on the balance on my account was really killing me sometime around 18 months ago. I'm not going to be particularly up money once everything is paid for compared to 5 year post office bond.

Yeah, basically what I'm doing too. Once autobid was up and running I realised it wasn't going to be much of a runner for me. Have been withdrawing quarterly for a while now. Will have about 80% of my funds out in about six months time, and then the remaining 20% will take about another 9 months to wind down unfortunately - but the plan is certainly to wrap up.

Don't even look at new loans anymore: there's no point, they're either autofilled or poor terms.

One last thing re the last reply. Unfortunately while brewing is fashionable etc , there are far too many small players - many of whom are badly over leveraged and won't see a profit for a long time. Next 12 months will, despite the overall market trend going up, see a lot of small breweries close down or "join forces".

at9qu5vp0wcix7

Also only selecting 12 month loans now with the intention of closing my account. Will be interesting to see if I even make a profit with defaults etc.

fflynn

sceach16 wrote: »

27 June payment has not arrived . Late again !

Farm Food Emporium
Missed payment again in July and August

In Arrears - The borrower has now missed two repayments on this loan. We are continually trying to contact the borrower but so far have only received one email response with no reasoning for the missed payments. We will continue to try and contact the borrower and will provide any further information once it is received. Last payment received: 14/07/2017

Wheety

I'm also withdrawing. Some people are happy to blindly send their money to anyone looking for a loan and LF are just as happy to play it out and take their cut.

Farm Foods are one of mine and I go past them some days on the bus. Can see them wiping down tables etc. getting ready for the evening trade. It's quite a busy place.

scheister

i see Irish premier golf tours are in the live loans again. How many loans have they now funded via LF?

sceach16

scheister wrote: »

i see Irish premier golf tours are in the live loans again. How many loans have they now funded via LF?

I think this is 3. Their first was a 12 month grade F which is nearly paid off. I have no problem with little and often with people who pay back loans :rolleyes: Mind you, a decrease in rate from 15 to 10 per cent is good for them.

The main problem with Linked is the low premium for longer term loans. It is obvious at this stage that any virtually any 12 month loan will be oversubscribed.

Cute Hoor

scheister wrote: »

i see Irish premier golf tours are in the live loans again. How many loans have they now funded via LF?

This is loan No 4 for them

PoundFoolish

Hi,
Just noticed a worrying development on one of my late payers, shellac nails.
They are up on flender looking for 35k. No financials or q and a available.
I was worried when I saw the explanation from LF for the missed payments which did not make sense, staff left so supplier would not supply .
Is p2p becoming a pyramid scheme for some businesses with financial issues?
What ever the flaws of LF I cannot understand why anyone would lend on Flender. No financials or trading details available. Seems more like a scratch card.
Anyone else notice this?

sceach16

sceach16 wrote: »

Craftworks Brewery
Brewing Up Some Great Returns..



Payment missed after 6 months!!!!

Payment received today 4 Sept

sceach16

BGRSB


A chequered history payment record. Payment (19/40........repeat 19 of 40) due 4/09 has not yet arrived. Others due today have.

at9qu5vp0wcix7

Shellac Nails up to date again, pleasantly surprised.

tomwaits48

These new six month loans might tempt me to start lending again

benjamin d

More changes on the way according to today's email...

6 month loans, A+ grade loans, and new rates from 6 to 17.5%.

That suggests to me that rates in general are set to decrease even further, with an odd junk loan at the higher rate. Maybe I'm just cynical.

I don't see why they need an A+ when A was supposedly as safe as houses anyway, sounds like semantics IMO.

The 6 month term will be great to wind down my investment though.

They're also launching pensions accounts, which won't affect me personally so I don't have an opinion on that.

Leedsfan123

It looks like they raised the rates on B and C grade loans. Good to see us getting something for once ha

Wheety

tomwaits48 wrote: »

These new six month loans might tempt me to start lending again

I've withdrawn some money but they may be handy to wind down. Won't have a chance with the auto bids though. I still won't set one up.