One week after the early repayment of our largest platform loan to date, we’re having a week of new In Funding loans. That’s five loans in five days and five opportunities for Proplenders to diversify either side of this Bank Holiday weekend.
Starting from 11am today (Wednesday 21/8) funding of the first of our five in five begins with Auto-Lend beginning the process of funding Tranche A. The first time we’ve brought five new loans to the platform in as many business days.
Loan one is a small bridging loan with maximum investment caps in place to help ensure as many Lenders can participate as possible. As usual, the majority of the loan is Tranche A and as is increasingly usual on the platform, this lower-risk Tranche is likely to be completely filled by Auto-Lenders – with Tranches B and C available for manual investment from midday. With attractive rates of risk-adjusted returns, this first loan is likely to fill extremely quickly.
Thursday and Friday’s commercial mortgage loans will take us through the £75m lending facilitated mark, with next Tuesday and Wednesday’s loans taking us to almost £140m of commercial property funded. And there’s plenty of variety in securing property type, geography and term – our five in five include offices, retail and mixed use, Lending for 6 to 36 months.
“Probably best not to expect a new loan every day from now on” quipped Proplend founder and CEO Brian Bartaby. “But we are working closely with the National Association of Commercial Finance Broker (NACFB) community to bring more loans and more diversification opportunities to our Lenders, more regularly” he added.
“Sometimes legals and due diligence are concluded for multiple loans in quick succession and naturally the borrowers are keen to bring their offerings to the platform as soon as possible. After a big loan has repaid like we had last week, we’re obviously delighted to bring a range of investment opportunities to Lenders to get their returned capital (and newly deposited funds) inflation-beating again” added Bartaby.
Our token-based auto-investment system Auto-Lend, typically gives everyone an opportunity to invest in our new loan. Auto-Lenders each get allocated a loan part before any single Lender gets a second, so with the exception of very small bridge loans, anyone who wants to participate can typically do so. You can customise the maximum investment per loan to your budget and preferences but the amount you actually receive will also be dependent on loan availability, loan popularity and the 24-hour caps we put in place.
Any remaining Tranche A after Auto-Lend has ‘run’ will be available with Tranches B and C (if applicable) to manually invest in on a first come first served basis. Again, this will be subject to the cap set for each Tranche, which combined with Auto-Lend is seeing hundreds of Lenders get into each loan rather than the dozens as it was on occasions prior to their introductions. A much fairer system we think.
For more information about upcoming loans – login or register and navigate to ‘Pending’ tab within the ‘Loans’ section of your dashboard.
Related to this post ….
Proplend’s loan to value based investment tranching system
More about Proplend’s (Tranche A) Auto-Lending investment options
Blog article: 8 Ways Proplenders Are Utilising Auto-Lend (July 2019)
Blog article: Proplend Lending Passes £50m (Nov 2018)
