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  1. #1141
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    I agree with Joker in as much that it has been immposible to invest for the last year or so. However, just lately I have managed to secure 10 or so loans. I have spent a bit more time on the site but at the same time there does seem to be a lot more loans available. The future returns for the unsecured loans will be of interest I'm sure and I am being a little selective with them in the meantime.
    And Saamee, same feelings, and now I have a bit more time I will be trying to reinvest at least all the funds withdrawn over the last 18 months.

  2. #1142
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    The situation is different now. Many more loans available now. The addition of unsecured loans has certainly helped but doses not account for all of the increase; there are six loans listed as I type this. Maybe increased marketing.

  3. #1143
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    Update: there are currently eight loans listed.

  4. #1144
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    Yes, it's quite amazing. The addition of unsecured loans certainly does not explain the whole increase. Maybe it's a pre-Xmas phenomenon? I can't remember what it was like this time last year.
    Attachment 12139

  5. #1145
    Member Tony Two Gloves's Avatar
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    Quote Originally Posted by Saamee View Post
    Not to keen personally to Invest in Unsecured Loans.......
    Yeah I would be careful here, the cynic in me says Finance Direct will gobble up all the good secured loans and feed the riskier unsecured ones out to investors. This is a very small operation and not a lot of loans to go around which is why investors will always be behind the Parent.

    I'm still concerned this entity is not making any money, six month to Sept 20 $4k Loss -full year to March 20 $1K profit, Lending Crowd only made $62K for the last two years. They have to change something as they are finding out like Harmoney that this business model does not work - innovate or die! I will not be re investing here or buying shares in harmoney

  6. #1146
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    Jul 2017
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    Hey Tony, where did you get the data re profit amounts of Finance Direct and Lending Crowd?

    If these figures are to go by they'll be making less money then some of the investors on their platform.

  7. #1147
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  8. #1148
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    This week has got busier and busier with new loans...

    That is positive to see.

  9. #1149
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    Quote Originally Posted by Saamee View Post
    This week has got busier and busier with new loans...

    That is positive to see.
    it's so much easier to get loans these days. But why no write-offs or arrears? Seems too clean?

  10. #1150
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    Quote Originally Posted by RMJH View Post
    it's so much easier to get loans these days. But why no write-offs or arrears? Seems too clean?
    I agree it seems a lot cleaner than Harmoney.
    However, I do have some arrears (7 loans out of 261 active, so small %). One is 42 days overdue and has never paid anything yet so could well be my first write-off.
    OTOH, Harmoney is a shocker, and their closing to new investment might have been a blessing in disguise for me, $1,000 written off in the past year (since they stopped any new peer-to-peer), it's getting to the point where I'll be lucky to get all my original investment back.

  11. #1151
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    Quote Originally Posted by Toukshare View Post
    I agree it seems a lot cleaner than Harmoney.
    However, I do have some arrears (7 loans out of 261 active, so small %). One is 42 days overdue and has never paid anything yet so could well be my first write-off.
    OTOH, Harmoney is a shocker, and their closing to new investment might have been a blessing in disguise for me, $1,000 written off in the past year (since they stopped any new peer-to-peer), it's getting to the point where I'll be lucky to get all my original investment back.
    Harmoney was mostly unsecured loans compared with Lending Crowd? Didn’t Harmoney change how they managed debt collection - maybe that was not successful.

    How did Lending Crowd manage their Covid response? Perhaps they gave longer grace periods than Harmoney did and bad debts have yet to kick in.

    Has Squirrel’s reserve fund taken a hit during Covid?

  12. #1152
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    Quote Originally Posted by Bjauck View Post

    Has Squirrel’s reserve fund taken a hit during Covid?
    Hi Bjauck, I look after Squirrels P2P business. I can confirm that the Squirrel personal loan reserve fund actually increased over the last 12months. At 1/4/20 the balance was ~$506k. At 31/3/21, the balance is $580k. The coverage ratio is in excess of 4.00%. These stats are published daily on our website. All our investors continue to earn the returns we've stated on the tin. Happy to take any further questions.

  13. #1153
    Member Tony Two Gloves's Avatar
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    Quote Originally Posted by DT@squirrel.co.nz View Post
    Hi Bjauck, I look after Squirrels P2P business. I can confirm that the Squirrel personal loan reserve fund actually increased over the last 12months. At 1/4/20 the balance was ~$506k. At 31/3/21, the balance is $580k. The coverage ratio is in excess of 4.00%. These stats are published daily on our website. All our investors continue to earn the returns we've stated on the tin. Happy to take any further questions.
    I have been quite critical of these PTP companies espically Harmoney & The Lending Crowd but I do like Squirrel, best of a bad bunch - sorry DT! I just believe there are much better investmnents around these days than funds in a P2P lender. I can't be bothered to check out if Squirell is making money or not but the other two aren't so not sure why they persist, its not as if TLC team are paying themselves well either so I'm convinced it is just a bad business model apart from shifting the risk to investors.

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