borofan
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Post by borofan on Mar 13, 2019 15:10:49 GMT
Agreed on the 4th Way. Doesn't seem unbiased to me.
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corto
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one-syllabistic
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Post by corto on Mar 18, 2019 11:22:19 GMT
Hi
They have a Signup bonus of 200 on 2000 for 1 year and a Refer a Friend bonus of 2*100 on 2000 for 1y
Are these additive ie 100 for the friend and 300 for me?
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corto
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Post by corto on Mar 19, 2019 10:57:01 GMT
They say 200 for the referrer (referral bonus) and 200 for the referee (sign-up bonus) on a 2k investment. That looks very expensive for them
Does somebody know how healthy the company is?
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Post by gravitykillz on Mar 19, 2019 13:18:12 GMT
They recently received a huge investment. They seem quite healthy, for the next 12 months at least.
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Post by gravitykillz on Mar 19, 2019 13:18:47 GMT
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corto
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Post by corto on Mar 19, 2019 14:23:47 GMT
Thanks.
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jester
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Post by jester on Apr 10, 2019 9:45:48 GMT
I've had money with Growth St through Goji's diversified bonds but with that rodeo coming to an end I'm going it here alone!
Previously on Goji this was held in an IFISA which is preferable for me, but the generous current signup bonus has tempted me to get involved with a standard account, before depositing further when their IFISA is launched.
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corto
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Post by corto on Apr 12, 2019 17:19:47 GMT
That is one hell of a link
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Post by nooneere on Apr 15, 2019 18:58:17 GMT
New email tonight - "To prepare for the upcoming launch of our ISA, we’ve had to make a few changes to our Investor Terms. There will be a new section added in: ‘8. The Growth Street ISA’, which will go live as of 1st May 2019."
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slush
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Here to learn. Please be gentle.
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Post by slush on Apr 16, 2019 8:41:31 GMT
Where do I find my link so that I can Refer a Friend? <<EDIT>> It seems you have to request one
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zlb
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Post by zlb on May 2, 2019 10:56:14 GMT
Not sure if it was wise but i invested more money in gs mainly as this investment boosted my confidence in the business. Good topic for discussion, haven't other platforms gained extra funding, and then later been viewed less favourably anyway?
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zlb
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Post by zlb on May 2, 2019 11:04:00 GMT
The big Con for me is the no IFISA problem, as all my p2p is with ISA funds. however, as you point out the pretty reliable 30day access I should think again. ie I use Marcus for short term spare cash (after any 5% bank offerings on a limited sum), but after a small cash buffer for day to day bills, medium term cash could be in GS. Especially with the 10% bribe for £2k held for a year. 4th Way say “Bad debts have been paid for by the reserve fund, almost entirely out of borrower contributions to the fund. This leaves a large amount of additional founder money still in the fund. As a result of the above, no lenders have come close to losing any money. When a loan goes bad, Growth Street has typically recovered over half the amount back from the borrower. That is pretty good and compares well to personal loans or unsecured business loans, but for Growth Street’ type of loans we would like and expect to see that, over time, Growth Street recovers more bad debt to help top up the reserve fund further.” Im sure it’ll be a dumb Q, but what’s RAF. Refer A Friend? Yes, it's refer a friend. I'm not sure I can match up what 4th way are saying with GS's own statistics On the first bit I've put in bold - for 2017 loans, claims to the fund exceeded borrower contributions by over 25%. For 2018 loans, claims are about 80% higher than borrower contributions (£515k contributed, £922 claimed). On the second, I'm totally mystified by that. Looking at GS's table, all-time recoveries total £44k whilst all-time claims are about £1.25m! Why 4th Way would claim they've recovered over half of that from borrowers I'm really not clear. Unless I'm misinterpreting something? edit: In answer to the OP borofan the risks I see are: 1) Relatively new still, very small borrower base, not increasing dramatically quickly. 2) Heavily loss-making, propped up by founder contributions. 3) As with all P2P platforms, Brexit could increase defaults (or may not). 4) Very low recoveries so far, indicating security is not proving particularly valuable.is "low recoveries" or what 4th way refer to as "pretty good", normal for this kind of lending? Or is there an issue with the loan structure, security etc? is the security for invoice discounting not the eventual promise of payment of the original invoice? Or is other security taken? I'm thinking of investing here - have been for some time, but when I read the thread, I kind of get put off by the (I suppose) 'greyness' of it. People aren't hugely impressed; horizon scanning for issues with questions like size of pf being unresolved. It seems like a 'give it a try but not a lot'? Any other thoughts? Why would invoice discounting work here, but cause too many defaults in BM thus causing them to pull out of invoice discounting, but not GS?
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r00lish67
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Post by r00lish67 on May 2, 2019 14:15:29 GMT
is "low recoveries" or what 4th way refer to as "pretty good", normal for this kind of lending? Or is there an issue with the loan structure, security etc? is the security for invoice discounting not the eventual promise of payment of the original invoice? Or is other security taken? I'm thinking of investing here - have been for some time, but when I read the thread, I kind of get put off by the (I suppose) 'greyness' of it. People aren't hugely impressed; horizon scanning for issues with questions like size of pf being unresolved. It seems like a 'give it a try but not a lot'? Any other thoughts? Why would invoice discounting work here, but cause too many defaults in BM thus causing them to pull out of invoice discounting, but not GS? Looking at the GS charges on companies house, they tend to be on patents as opposed to physical security such as property. Re: 4th way's opinion vs my own, I will just point to GS's own statistics. Thus far they have made a claim to their provision fund for circa £1.26m of loans and have made circa £116k recoveries (9.2%). FC for example seem to run closer to 40% on SME lending. Perhaps that'll improve in future, but for now I'm happy my description as 'low recoveries' fits the bill. I'm not sure what proportion of GS's lending is invoice discounting tbh, and whether it's a bad thing or good thing I've no idea. I'm not against GS, but only have a little invested for diversification. I would invest for a decent bonus, but 5.3% is otherwise not particularly exciting. They seem quite dependent on support from their benefactors at the moment, and still have under 200 borrowers after a few years of running. They do however seem to have attracted some funding rounds on the plus side.
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zlb
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Post by zlb on May 2, 2019 22:26:35 GMT
Thanks r00lish67Raises the question, applicable to any platform, 'what's in it for the funding round investor/s?', are they protected/insured at all, for failure? Maybe these large investors are happy with the quality of the borrowers, (and quality is why there aren't so many borrowers). Or maybe they are simply used as indicator of trustworthiness for p2p investors. Once there's more p2p money, the private large investors start to withdraw...the equivalent of flipping their loans?
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Post by gravitykillz on May 30, 2019 4:44:53 GMT
Theres another new signup bonus now. Similar t & c as the previous one
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