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Thread: PledgeMe

  1. #1
    Peer
    Join Date
    Jan 2016
    Location
    Christchurch
    Posts
    62

    Default PledgeMe

    PledgeMe have received a license to offer P2P, they say around the end of may before it is live.

    http://blog.pledgeme.co.nz/license-to-lend/

    There is a PDF at the bottom with a bit more info, whether it takes off or not is another matter, suggested rates for investors seem low compared to everyone else in the market (but they are only suggested rates), fee's for investors are 1% (of what exactly I don't know), appears they will only be doing business loans, secured and unsecured up to $2m.

  2. #2
    Member
    Join Date
    Dec 2015
    Posts
    31

    Default

    Who would make an unsecured $2m loan?

  3. #3
    Peer
    Join Date
    Jan 2016
    Location
    Christchurch
    Posts
    62

    Default

    Not sure you can go $2m unsecured, I only briefly read the info sheet. There might be a smaller limit on unsecured.

  4. #4
    Member
    Join Date
    Sep 2015
    Posts
    226

    Default

    I wonder what systems in place to protect the investor. Will PledgeMe do credit checks? Will PledgeMe actively chase up missed repayments? What happens if someone defaults?

    I also wonder if we can trust the borrower to set a rate that reflects the amount of risk.

    The fees for the borrowing entity seem quite high, 4% of amount borrowed, in addition you have to go through the whole pitching and campaigning crap.

  5. #5
    Junior Member
    Join Date
    Jun 2016
    Posts
    8

  6. #6
    Junior Member
    Join Date
    Jun 2016
    Posts
    8

    Default

    Quote Originally Posted by Kelvin View Post
    I wonder what systems in place to protect the investor. Will PledgeMe do credit checks? Will PledgeMe actively chase up missed repayments? What happens if someone defaults?
    FYI it says at the bottom: "We have completed a Veda check on the company and their directors, as well as a Google check. There were no adverse findings."

  7. #7
    Junior Member
    Join Date
    Apr 2021
    Location
    Romania
    Posts
    1

    Default

    Probably nobody.

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