HOMBRE #7666

yes it is 18% – regards david

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HOMBRE #6102

Ever since we began using the MarketLend platform it has been a goal of ours to reduce our cost of funding. We started off paying higher interest rates to get ourselves established and set about building a repayment history, which is completely unblemished, demonstrating that we are a secure investment. We believe our track record warrants a lower rate, more commensurate with other funding sources. It is also worth noting that the average individual investment in Speeedymoney on the ML platform is about $1500. Given most of our loan terms are for 6 months this means that each 1% decline in the interest rate represents a very small difference in return ($7.50) to the individual investor.

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HOMBRE #6042

Hi Sam,
Speedymoney’s average loan size is $550 and offers a standard term of one month. As such there are thousands of small loans outstanding at any point in time. Investors underlying risk is to the whole portfolio of loans, and therefore diversified over thousands of customers that work in many different industries. Whilst we do not like any loan to fall into arrears or default, one loan going bad will have little impact on the return of the portfolio as a whole. The other matter to consider is customers’ pay-cycles. Most Speedymoney customers are paid weekly, and therefore so are their repayments, and comprise both principal and interest, which means that Speedymoney’s exposure to a client decreases quickly. Regards Speedymoney

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HOMBRE #5741

With 5 days left in the May we are expecting a record month in terms of applications, approvals and money lent. To put this in perspective, current demand is about 25% higher than six months ago when we started with MarketLend, and three times what is was a year ago.

In addition, June and July are usually busy times for short-term loans as consumers manage the timing of their expected Tax refunds.

We also have a number of new branded websites in production scheduled for release in the coming weeks. At this point, we envisage devoting further resources to marketing, and increasing the size of the loans we offer.

As a result, we are looking to raise further capital to support the expected growth of the loan book. We are managing the time it takes to have the MarketLend listings filled by publishing them now, and are conscientiously working to increase demand in a manageable and controlled way.

With this in mind you should expect more repeat listings from us on the MarketLend platform.

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HOMBRE #5105

Hi – This is David at Speedymoney. All the loan listings are for the same company, Speedymoney Pty Ltd. The reason we have multiple listing is because we manage the loans to different maturities. The listings that are >90% risk weighted include a contribution by Speedymoney to a loss provision fund that further protects creditors in the (unlikely) event of default.

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HOMBRE #4757

We’ve maintained our growth over the past couple of months with December particularly busy due to obvious seasonal factors. We lent out 20% more in December 15 than in October 15 and expect January to be at least on par with December (it’s tracking that way at the moment). We expect December collections to be marginally slower that other months. While there has been a corresponding increase in direct costs it’s pleasing to see that fixed costs have remained flat.

During the start-up phase of the company the founders chose to take less salary and as the company moved strongly into profit decided to start paying themselves more of a salary. That level has remained flat, if not dropped slightly due to a staff member leaving and not being replaced.

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