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High-Rate Loans From rebuildingsociety This Week
Here are the latest high-rate loans that are open for you to bid on from rebuildingsociety, the P2P lending company that finances riskier loans to businesses.
B grade loan to heat treatment company
Update: this loan has been extended to 15 January due to the owner suffering some difficult personal news.
A company that does special heat treatment on materials for engineering companies wants to borrow your money for both expansion and for new plant equipment.
An older loan to this company through lenders on rebuildingsociety is going to be rolled into this new one.
The average interest rate is currently 16.46%. You can bid higher, but the higher you bid the less likely you'll be able to take part in the loan, since the lowest bidders win.
The loan is for £100,000 and £40,000 of it is already funded. Since there is just one day left to go, there's a fair chance that, if the loan goes ahead, you'll be successful if you offer higher than average interest rates.
The security for this loan is complex. There is a personal guarantee from the directors to pay up from their own money if the business can't pay. There is also security on real assets, although that security does not cover the entire value of the loan.
The auction is due to finish at 9pm on New Year's Day.
C grade loan to a joiners company
This loan is for expansion and also so that this joiners company can fulfill some large contracts.
The average interest rate on this loan is currently 19.23%.
The loan is for £50,000. It has been fully funded, but you can still under-cut existing lenders by offering a lower interest rate.
The loan is for 60 months.
There is no asset security, just personal guarantees from the directors.
The auction is due to finish on 2 Januar 2015 at 9pm.
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