Ablrate’s Largest Aircraft Loan Repays 28/11/2016
Henley-on-Thames, November 2016: Ablrate, a pioneering online lending platform for asset-backed loans has announced that its largest aircraft loan has settled today, returning £2 million to lenders.
The asset-backed lending platform Ablrate, who have completed over £14 million in loans to date, today announced that its largest aircraft loan so far has completed returning interest and capital of over £2 million in nine months.
“The initial concept of Ablrate was to finance aircraft transactions, and although we have expanded into capital equipment and property, it is great to have one of our core products complete for our lenders” Said CEO, David Bradley-Ward. “It wasn’t all plain sailing as the loan extended for short period but the borrower agreed to a penalty rate of 17% and with a loan to value of less than 60% we feel it has been an excellent trade for lenders and the borrower. This trade brings the total capital returned to lenders on the platform to £2,742,000. When you add in secondary market trades of circa £3 million, it shows our goal to provide liquidity into the space is working well.”
Ablrate has increased its loans completed in the last 12 months by 600% going from £2 million to £14 million. Bradley-Ward commented “The top line is significantly lower than our peers, we are aware of that, but we have an approach of scaling the business slowly to promote a sustainable model, one which we believe will see us become profitable in our current financial year. Couple this with a launch in Australia and Singapore and we believe 2017 should be an excellent year for the company”.
Ablrate intends to bring more aircraft related loans, alongside the burgeoning capital equipment and property offerings, over the coming months. “Its definitely on the cards, we are excited to be looking at a new space in the aircraft market to get involved with which could become a regular product for our lenders”, added Bradley-Ward.
Ablrate is a pioneer in asset backed lending against high-quality assets and the first peer lending platform in the world to give investors access to aircraft transactions. Through our online investment platform, we enable individuals and businesses to manage their own financial risk and returns, disintermediating and removing the cost of the middleman. Investors have full visibility of the asset they are investing in, but can also assess their potential risk exposure. Ablrate gives investors access to exciting and unique investment opportunities ranging from the highly regulated aircraft leasing space to capital equipment transactions that provide investors with good security and higher returns. Your capital and unpaid interest is at risk, please read the risk warnings associated with investing on Ablrate.
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