Peer to peer lending

[Stevethemeat]

Has any one any experience of peer to peer lending on a large farm purchase in the region of £1 mill or the use of outside investors that may be interested in such an opportunity

 

[Exfarmer]

I would have thought that a bank would give better rates, unless you are looking to raise angora goats and use the wool for making coats for wild rabbits
Sorry to be frivolous but have seen a few bids and some raise serious capital for some very dubious causes

 

[Stevethemeat]

I would have thought that a bank would give better rates, unless you are looking to raise angora goats and use the wool for making coats for wild rabbits
Sorry to be frivolous but have seen a few bids and some raise serious capital for some very dubious causes

The problem is I was thinking of producing meat from animals for humans to actually eat in a slick profitable way so it’s not a normal type of a project and many will tell me it’s a crazy thing to even think about [emoji23]

 

[Exfarmer]

The problem is I was thinking of producing meat from animals for humans to actually eat in a slick profitable way so it’s not a normal type of a project and many will tell me it’s a crazy thing to even think about [emoji23]

I think manylivestock farmers would be interested to hear this
However if it is a new exciting method , that very much hits the spot with peer to peer.
I wish you luck!

 

[jendan]

Has any one any experience of peer to peer lending on a large farm purchase in the region of £1 mill or the use of outside investors that may be interested in such an opportunity

Possibly 50% of a forced 90 day sale valuation on an established business.It will be at least 6% interest only,plus 1% monthly charges.Facility fee at the start,deducted from the advance of at least 5% of the loan,plus you pay for all their solicitors fees and your own.Maximum 5 year term.Extra penalties for paying early before year 3 and 4.If you cant get back to a high street bank by year 5,you are potentially in trouble........they will want their money back.Some solicitor based "securities" firms will do it at 12%-15% interest only.............they very often end up taking the "security" off you in the end. There is a specific long running thread on this Forum all about it.

 

[renewablejohn]

Possibly 50% of a forced 90 day sale valuation on an established business.It will be at least 6% interest only,plus 1% monthly charges.Facility fee at the start,deducted from the advance of at least 5% of the loan,plus you pay for all their solicitors fees and your own.Maximum 5 year term.Extra penalties for paying early before year 3 and 4.If you cant get back to a high street bank by year 5,you are potentially in trouble........they will want their money back.Some solicitor based "securities" firms will do it at 12%-15% interest only.............they very often end up taking the "security" off you in the end. There is a specific long running thread on this Forum all about it.

Sorry but the long running thread is nothing to do with peer to peer lending and everything to do with fraudulent banks and fraudulent bankers.

 

[Highland Mule]

https://landbay.co.uk/

Possibly the best known one? No experience, but I have a mate who enthuses about them as a way of investing his money.

 

[farmerdan7618]

Folk2Folk would be a possibility for lending on this sort of thing.
Was at a talk recently with them, interest only lending for businesses that can't get bank lending for their projects for reasons such as not having been in a business sector previously, or a new startup /diversification etc.
6% interest rate, will lend up to around 40% of asset value. Most will refinance with a high street bank after 5 years or so, and they will say that if a bank will lend, it will be cheaper.

 

[Stevethemeat]

https://landbay.co.uk/

Possibly the best known one? No experience, but I have a mate who enthuses about them as a way of investing his money.

They look reasonable for investing but more aimed at buy to let lending think they would run a mile if I mentioned a farm lol

 

[caveman]

The problem is I was thinking of producing meat from animals for humans to actually eat in a slick profitable way so it’s not a normal type of a project and many will tell me it’s a crazy thing to even think about [emoji23]

Not that fledgling lettuce growing enterprise then?