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Thread: Need to pay some bills or get a loan?

  1. #31

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    $10 should buy lunch . . . . . .

  2. #32
    Wilbert's Avatar AF Jedi Pro Membership
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    Quote Originally Posted by Sir Cornelius Platinum View Post
    $10 should buy lunch . . . . . .
    Nah. That won't buy cod and chardonnay at Speights.....

  3. #33
    Century Contributor Senior Member
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    Would treat with some caution, but has lots of potential from the lenders point of view. I would never consider borrowing at their rates unless I had a gun to my head.
    The higher the risk of default the higher the return so good to have loans across the loan profiles. Can spread loans out at as little as $25 per loan, the max I have put on one loan $50 so risk spread over 100s of loans. Return over whole platform 11.59% at present. With a spread over 450 loans and current return of over 15.5% I'm happy, but you get capital back over 3 or 5 year terms depending on loan so in for the long term but nice wee bit of cash flow coming back in.

  4. #34

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    Reading between the lines , these loans are at an average rate of 15.5% , of which you get 11.59% ? Is that approx correct ? They are a business , and have costs , and have to make a profit .

    The main point I would observe is that they seem to be making nearly 4% margin , or nearly 25% in fees , with almost no risk ( if any ? ) , while you make 75% , take the risk , and wait 3-5 years ?

  5. #35
    ByTheBeach's Avatar AF 250 Club Member Senior Member
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    I have been in it since it started and averaging close to 17% return on what I invest (lend).

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  6. #36
    amante's Avatar AF Jedi Pro Membership
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    Quote Originally Posted by Xosexo View Post
    Would treat with some caution, but has lots of potential from the lenders point of view. I would never consider borrowing at their rates unless I had a gun to my head.
    The higher the risk of default the higher the return so good to have loans across the loan profiles. Can spread loans out at as little as $25 per loan, the max I have put on one loan $50 so risk spread over 100s of loans. Return over whole platform 11.59% at present. With a spread over 450 loans and current return of over 15.5% I'm happy, but you get capital back over 3 or 5 year terms depending on loan so in for the long term but nice wee bit of cash flow coming back in.
    Quote Originally Posted by ByTheBeach View Post
    I have been in it since it started and averaging close to 17% return on what I invest (lend).

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    any bad debts so far ?

  7. #37
    Century Contributor Senior Member
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    Quote Originally Posted by Sir Cornelius Platinum View Post
    Reading between the lines , these loans are at an average rate of 15.5% , of which you get 11.59% ? Is that approx correct ? They are a business , and have costs , and have to make a profit .

    The main point I would observe is that they seem to be making nearly 4% margin , or nearly 25% in fees , with almost no risk ( if any ? ) , while you make 75% , take the risk , and wait 3-5 years ?
    No you read that wrong, the higher rate is my personal return the lower the average of all loans on platform.

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