Ablrate announced its largest aircraft loan so far has reached its £1.8 million ($2.5 million) target within 13 days.
This takes the total loans since inception to £6 million ($8.35 million), with £4 million ($5.57 million) of that being completed in the last four months. The p2p industry has created billions of dollars of origination of loans in various niches with Ablrate servicing a £50 billion ($69.6 billion) addressable market in regional aircraft and other asset backed loans.
“Our customers were very keen on this loan, so much so we had to extend it by a small amount in order to accommodate some lenders who had missed out,” said David Bradley-Ward, CEO at Ablrate. “We make the risks in our transactions very clear and all investors should assess the potential capital and interest risk before investing, so this is an good indication of the confidence which our customers place in Ablrate and our transactions and we are very appreciative of their business.”
Ablrate has started 2016 off with this transaction and some small capital equipment loans, but intends to begin feeding in more loans to take it to £10 million ($13.9 million) in completed loans before the summer.
Ablrate provides asset backed lending against high-quality assets and a peer lending platform to give investors access to aircraft transactions.
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