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ThinCats User Manual

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1. If you then click the rather strangely named View Bids button at the foot of the page all the payments and receipts for your parts of the loan are listed as shown below Business Loan Network Bid Repayments Investment Summary v Repayment Summary Loan Periods 12 V 3 Invoiced Payment Received Principal Invested 2 000 INTEREST OUTSTANDING PRINCIPAL OUTSTANDING 00 00 106 05 106 05 CEN Interest Rate 9 28 First Repayment Due Date 12 05 2013 Last Repayment Due Date 1 4 04 20 1 4 Range All Time iv From To 09 12 2013 Adjusted Settlement Opening Balance Principal Interest Total repayment Closing Balance 12 10 2013 11 11 2013 12 11 2013 Received 15 52 15 52 1 333 33 12 09 2013 11 10 2013 14 10 2013 1 333 33 Invoiced t 15 52 15 52 12 09 2013 11 10 2013 14 10 2013 Received 15 52 15 52 1 333 33 12 08 2013 11 09 2013 12 09 2013 2 000 00 Invoiced 15 52 15 52 12 08 2013 11 09 2013 12 09 2013 Received i 15 52 682 19 1 333 33 12 07 2013 11 08 2013 12 08 2013 2 000 00 Invoiced j 15 52 15 52 12 07 2013 11 08 2013 12 08 2013 Received 15 52 15 52 2 000 00 ThinCats User Manual Version 2 0 Page 14 Dashboard Debt Obligation List The second tab on the Dashboard is the Debt Obligation List This is a list of all loan parts Debt Obligations that you have invested in excluding items in Suspense In common with the list of Loan
2. Cash is money available to invest in loans or be repaid to you Suspense comprises e money tied up in bids on auctions in progress on both the Primary and Secondary Markets e successful bids on completed auctions where the loan has not yet been drawn down Primary Market and e loans that have been drawn down but the accounting has not yet been completed This is particularly relevant for TLCs which often do not leave Suspense until the month after drawdown commences Assets comprises loan parts Debt obligations held net of capital repayments received but excluding any items still in suspense This should equal the total book value of items in your Debt Obligation List Total is the sum of these three items and represents essentially all the assets you have with ThinCats Clicking on the purple See More Accounts button brings up an additional list of accounts See More Accounts v Interest 4 606 41 Debtors 00 Creditors 00 Listing Fee VAT due from HMRC Capital Gain Capital Loss Capital Premium ThinCats User Manual Version 2 0 Page 9 Dashboard Accounts Summary Data cont Most of these additional accounts are profit and loss items Profits are negative losses are positive e Interest is the cumulative total of all interest you have ever received e Listing Fee is cumulative charges for selling on the Secondary Market excluding VAT e Vat due from HMRC is the VAT on listing fees e C
3. Loans Invested In Vv records per page Borrower Loan Name First Repayment Due Date Clear Press Limited t aNGookbarn Clear Press Ltd Bookbarn business 12 12 2013 International development loan Staddon House Limited Staddon House Business Development Loan 12 12 2013 Shielbog Renewables LLP Shielbog Renewables LLP wind turbine 12 12 2013 Relisted LYD Construction Limited LXD Construction Working Capital Loan 12 11 2013 Showing 1 to 5 of 45 entries View Loan Financials View Loan Details You can adjust the records shown per page using the box on the left and export the data to Excel or a Text file using the button on the right When exporting four choices appear amp Export v Export to Text Export to Excel Export All to Text Export All to Excel Export All is self explanatory Export will export only those loans that have been selected by clicking on the check boxes to the left The check box in the title row offers an alternative means to Select All At first sight this may seem redundant However if you Select All using this box you can then click on the check boxes against individual loans to deselect any that you don t want Clicking on the column headings such as Loan Name or Borrower sorts the data into ASCII alphabetical order or numeric order You can see additional information about a loan by clicking on one of the boxes at the foot of the screen View Loan Financials or
4. Tiles link to all the main functions of the system as listed in the Contents below The arrangement of the tiles varies with the screen resolution Contents Introduction Homescreen OO Page 1 2 3 My Profile Personal information and user settings m A Deposit Request Tell ThinCats that you have sent them money Le Withdrawal Request Ask ThinCats to return funds to you Inbox Communications with ThinCats 5 Dashboard Loans you have invested in and history of your cash and investments Where you go to make investments divided into Invest Primary Market New loans being auctioned 15 Secondary Market Second hand loan parts on sale 20 Listing your loan parts for sale Pp oo Old VersusNewForums SSSC C S sSCi Oooo meo S e E ThinCats User Manual Version 2 0 Page 3 Navigation The grey Sidebar on the left and the black Menu Bar at the top are available throughout the application Sidebar The seven grey buttons on the Sidebar take you to various parts of the system and also let you log off Toggles the width of the sidebar between narrow as shown Menu icon on the previous page and wide The wide version includes a text action SS loans you have invested in and history of your cash and Dashboard es investments Forum fission ares OO Where you go to make investments divided into Invest Primary Market New loans being auctioned Secondary Market Second hand loan parts on sale seh Listi
5. Standard Bid a bid at a fixed rate which to begin with can be at or below the Maximum Bid Rate Once an auction fills competition between lenders will drive the rate down The current maximum for the auction will fall and the bid risks being knocked out as rates fall e Dynamic Bid here the lender states both a maximum and a minimum rate You can enter any bid below the current maximum for the auction and also a lower bid which is the minimum rate which you are prepared to accept The maximum range on a dynamic bid is 5 For example if you bid at a maximum rate of 13 5 your minimum can be 8 5 but no lower A dynamic bid always bears the timestamp of when it was originally made Thus as rates are driven down a dynamic bid will always trump a later standard bid Example e At 10 00 Fred makes a dynamic bid with a maximum rate of 10 50 and a minimum rate of 9 50 e At 10 30 Joe makes a standard bid of 9 75 Joe appears to be beating Fred in the auction because he cannot see that Fred made a dynamic bid e Two days later as the auction draws toward a close competition has driven the maximum rate down to 9 76 Fred is still in the auction at 9 76 and so is Joe Joe still appears to be beating Fred in the auction e The last few bids begin to come in knocking the maximum rate down to 9 75 Fred s dynamic bid reduces to 9 75 Now because Fred bid before Joe Fred is ahead e The very last bid comes in and knocks Jo
6. encourage bidding If you are not comfortable with this you might email ThinCats at the above address and ask them to set a different Maximum Rate However it may be simpler and more reliable to decide what you want the Maximum Rate to be and then set your Target Rate at the maximum less 0 25 ThinCats User Manual Version 2 0 Page 27 Secondary Market Selling cont Agreed Sales If you click on the Sale Agreed button a list of loan parts that you have sold is displayed If you then click on View the highlighted loan is displayed Business Loan Network Home gt Secondary Market My Debt Obligations Pending Approval Debt Obligations On Sale Sale Agreed 10 records per page Search Sellers Amount Fixed Price Sale Part Sale Allowed Auction Start Time Remaining Action ES PT Showing 1 to 1 of 1 entries Once you have done that and then clicked Auction Summary you can inspect the bidding history as shown below Inspect Your Bid cannot do anything at this screen because you cannot bid for your own loan parts Business Loan Network Auction Summary Debt Obligation Summary Auction Monitoring Auction Ends 05 Jul 2013 at 12 00 00 Ended Total Value of Offers 11 000 00 550 000 of minimum required Original Bid Rate 11 00 Max bid rate allowed 12 50 The seller is seekinga 2 049 10 Current Price 2 038 64 price of Minimum rate offered 9 Maximum qualifying rate W Avg Rat
7. folders ThinCats Auction info Information packs Includes a spreadsheet for and auction loan repayment calculations results for and information on how to completed access the old Forum auctions by year Additional Reference Documents Progress reports from one of Central Union Reports the Sponsors November Conference presentation pdfs Includes a status report on completed auctions not yet Progress Reports drawn down TLC forward plan and various statistics Regulation amp Tax Info Includes Secondary Market Secondary Market Information status report showing eligibility of loans for the ThinCats Press Cuttings Secondary Market Changes Any major changes will be listed here
8. not very useful Target Price 9 19 856 13 Interest Rate 11 00 View Debt Obligation Details Clicking on the purple button View Loan Details takes you to the original listing details Inspect Your Bid Place Standard Bid Place Dynamic Bid see below Buyer Alias Offer Date Offer Amount Offer Rate i Allocation Allocated Amount Current Price 2 Unter den Linden 17 December 2013 22 12 37 1 000 00 11 00 100 00 1 000 00 1 000 00 3 BigEm Investments 18 December 2013 11 34 10 2 000 00 11 00 Y 100 00 2 000 00 2 000 00 z id 4 Page 1 of4 PI Records 1 3 3 Below are the original listing details for Phase Four Creative Business Loan Network Borrower Phase Four Creative Limited Phase Four Creative Ltd MBO funding Auction Details Loan Details Phase Four Creative Limited Phase Four Creative Ltd MBO funding Summary Loan Details Sponsor Offers Documentation Q amp A _ Auctions Organisation Phase Four Creative Limited Warning Do not press the Back button here It Loan Name Phase Four Creative Ltd MBO funding currently dumps you at a list of loans on the Primary Market which is less than useful Creator ZoeWyles Created 18 October 2013 14 21 31 There are two ways to get back to the Auction View ii click on the Back button of your browser followed Sponsor Ludgate Finance by the F5 key Refresh or return the long way round by using the Invest button in the sidebar and sele
9. set up when you joined ThinCats but can be changed here e User Settings are your personal details and address and your Global Event Preferences Global Event Preferences control what you are notified about Many people opt to leave most of these options turned off as you can be swiftly swamped with messages However it is advisable to turn on the option to receive emails about new loans Not only does this turn on notifications about new loans it also ensures that you are notified about polls concerning your loans If you have registered a mobile phone number with ThinCats tthe Global Event Preferences screen gives you the option to receive notifications by text SMS Ignore it We believe that SMS notifications have been turned off since June 2013 Deposit Request Deposit Request Form You cannot make a deposit through the website but selecting Deposit Request brings up a Deposit Request Form which can be used to notify ThinCats of any deposit that you have made to their account at Street UK Note that typing 1000 Username Hidden for example gives you 10 00 not 1 000 BLN Ref Organisation Name Hidden Subject Deposit Request During the UK working day the cash is normally credited to your account within two hours of notification but this is not guaranteed and may Transfer Date change in future It may take longer at weekends or overnight If you do not notify ThinCats in this way it takes up to 3 working days for your dep
10. 4 49 17 Dec 2013 at 4 95 days Limited 10 00 00 Zunsport Limited 1 975 39 17 Dec 2013 at 4 94 days 10 00 00 Diamond Manufacturers 1 000 00 17 Dec 2013 at 4 93 days Ltd 10 00 00 Elevation Financial Group 19 746 79 17 Dec 2013 at 4 92 days Ltd 10 00 00 Phase Four Creative 19 743 20 17 Dec 2013 at 4 92 days Limited 10 00 00 Showing 1 to 6 of 6 entries The list includes sales that are soon to start and any that have recently finished Completed Secondary Market sales disappear quickly usually within an hour in order that the sales can be processed When you select a debt obligation and press the View button the screen below appears In this case Phase Four Creative was selected Business Loan Network Home gt Secondary Market gt debt obligation details f debt obligation details Joe DO for Loan Phase Four Creative Ltd MBO funding Summary Debt Obligation Details Listing Offer DO Auctions Organisation Joe Summary shows a minimum about the loan Name DO for Loan Phase Four Creative Ltd MBO funding Gabe Jesds Debt Obligation Details gives more information as shown on the next page Created 16 DecemNer 2013 16 19 43 State On Sale Listing Offer used to provide a direct route to the original loan details but does not do We think the seller s alias should anything at present not be visible This is probably a bug and should be fixed DO Auctions allows you to bid ThinCats User
11. 6 1 000 00 100 00 1 000 00 Walton Investments 5 December 2013 13 46 27 1 000 00 100 00 1 000 00 The actions available on all three tabs are the same e Refresh Updates the screen and allows you to check if any new bids have been made e Inspect Your Bid You must first use the cursor to highlight your bid If you then click on Inspect Your Bid a drop down box appears This reminds you of the details of your bid and enables you to change your notification options see page 19 e Place Standard Bid See below e Place Dynamic Bid See below It is also possible to place a bid from the Auction Summary page 15 ThinCats User Manual Version 2 0 Page 18 Primary Market Bidding Before we look at the mechanics of bidding it is important to understand the two kinds of auction and the different types of bid that can be made Fixed Rate Auction In a fixed rate auction the Borrower is looking to borrow at a fixed rate The only type of bid that can be made is a Standard Bid at the fixed rate Once the auction is full no further bids can be made Variable Rate Auction In a variable rate auction the Borrower sets both a Maximum Bid Rate and a Target Rate The Target Rate will be lower than the Maximum Bid Rate sometimes quite a lot lower The information about the loan should give you a good idea of what the borrower will ultimately accept There are two types of bid on a variable rate auction e
12. Mandrake and Alison s ThinCats User Manual Version 2 0 Introduction This User Manual is intended primarily as a guide for new users When viewing the manual on a PC you will find that the screen shots will be more readable if you select fit width rather than viewing at 100 All of the screen shots are taken on a PC For the most part they should look the much the same on a tablet in landscape mode The application is also designed to work on a mobile phone Android or iOS but the layout is different It is probably easier to find your way around on a PC or tablet before trying to use the application ona phone See page 28 for a brief introduction to how the appearance of the application changes with smaller screen sizes At the time of writing the application is still under development and changes are being made from time to time This version of the manual is based on the application as it was on 18 December 2013 General notes ThinCats do not support Internet Explorer They recommend using Safari Chrome or Firefox Many screens have a Back button Where provided this should generally be used in preference to the browser s back button The latter may give you an error message If it does clicking on the Refresh key F5 should solve the problem Background and Disclaimer Mandrake wrote a manual for the previous version of the software partly because ThinCats were not going to write one but also to improve his unders
13. Manual Version 2 0 Page 22 Secondary Market Buying cont This shows the Debt Obligation Details for Phase Four Creative Business Loan Network debt obligation details Joe DO for Loan Phase Four Creative Ltd MBO funding Summary Debt Obligation Details Listing Offer DO Auctio The Debt Obligation Amount is the par value of the loan Debt Obligation Details part on sa le DO for Loan Phase Four Creative In this case the Target Rate has been set 0 25 below the Debt Obligation Amount 19 743 20 Bid Rate resulting in a Target Price above par The Target Debt Obligation Target PERE Price is calculated by the system It is not a fixed reserve Price and sellers are not obliged to accept the sale even if the Bid Rate 11 Target Price is met agi The lack of a tick in Fixed Price Debt Obligation means Remaining Periods that the price rate is variable Fixed Price Debt Obligation Single DO Transfer is ticked only if the Debt Obligation Amount is 1 000 or less Single DO Transfer Debt Obligation Auction View If you select DO Auctions followed by the green View button the screen below appears You can bid from here but you may wish to refer to the loan documentation before bidding You can do this via the Debt Obligation Summary tab see next page Business Loan Network Auction View Joe DO for Loan Phase Four Creative Ltd MBO funding Auction Summary Debt Obligati
14. Sell Debt Obligation Cancel Clicking on Sell Debt Obligation takes you to a confirmation screen You have a second chance not to sell but once you click the blue Confirm button the loan will be listed unless it fails status checks This extract from the ThinCats guide to the Secondary Market gives more about the sales process Once your decision to sell has been confirmed the loan part is put to into a queue for an administrator to deal with The administrator will either agree to list the loan for a fee or refuse to list it If the former it will be put onto auction on the secondary market if the latter it will be returned to your account While the loan is being auctioned it is in suspense and any repayments made before the sale is agreed go into a suspense account for the eventual benefit of the buyer At the end of the auction the seller may agree the result and the funds are released This process is exactly like an auction for the original borrower Sellers on SM3 can refuse to sell a loan if the price offered is unacceptable but if you are likely to decide not to sell it is important that you inform us BEFORE the end of the auction by sending an email to resale thincats com If we have not heard from you before the end of the auction we will assume that you accept the offer price and implement the sale accordingly emphasis added Loans are usually listed with a Maximum Rate of 0 25 above your Target Rate this is to
15. The Forum is intended to be the place for discussion and news about ThinCats It is a work in progress and its functionality is currently limited ThinCats are developing it as a replacement for the old Forum at thincats net and the old Forum is expected to remain open at least until the new Forum is fully functional The main differences between the two Forums are listed on page 29 It contains a number of message boards each of which is accessed by clicking on the relevant View button The News message board is shown below Threads are sorted with the most recently modified threads at the top Just click on a thread to read it or start a new thread by clicking on the green button Business Loan Network Forum Home gt Forum Threads Add a new Thread Nanotech UK Ltd Highpad Ltd Draws down Diamond Manufacturers Drawdown Diamond Manufacturers Discount code Green rather than Purple Frog 3 Posts 3 Posts 6 Posts 1 Post 8 Posts Modified 8 hours ago Modified 1 day ago Modified 2 days ago Modified 7 days ago Modified 9 days ago ThinCats User Manual Forum cont Individual threads have the most recent post at the bottom Business Loan Network Nanotech UK Ltd Q Ivor Freedman 2013 12 14 There is a press release from Industrial Nanotech Inc posted in the documentation section of the auction eply w CIEE SteveHayes 2013 12 15 lg wert ta it on the site in fact i think i
16. View Loan Details see next page But first you must highlight the particular loan you want details of Warning if the loan is listed on other than page one the system sometimes reverts to the first loan listed on page 1 If this happens try again but count to twenty after selecting the loan ThinCats User Manual Version 2 0 Page 13 Dashboard Loans Invested in cont View Loan Details View Loan Details gives the original documentation and auction history and is described in detail in Secondary Market Buying page 23 View Loan Financials View Loan Financials Provided the loan has been paid out you can see a summary for the loan as shown below Note that this shows information for the whole loan not just the parts you have bought Business Loan Network Borrower Jerome Rendering Ltd Jerome Rendering 1 year Project Funding Loan Investment Detail Investment Summary v Repayment Summary Loan Periods 12 Invoiced Payment Received Date Funds Disbursed 17 04 2013 INTEREST OUTSTANDING PRINCIPAL OUTSTANDING 00 00 Loan Amount Disbursed 150 000 00 First Repayment Due Date 12 05 2013 Last Repayment Due Date 14 04 2014 Keadaan Z From 09712 2012 To 09 12 2013 Number Of Bids Placed 1 Allocated Bids Total 2 000 00 Share Of Loan 1 oo Weighted Interest Rate 9 28 Bid Placed Date i Bid Rate of1 P Dl Records 1 1 1 Export Al View Bids
17. ale on the secondary market Fixed Price sales are always at a price based on the loan part s original interest rate the Bid Rate The sale is over subject to acceptance by the seller as soon as there have been sufficient bids Other sales they don t seem to have a name are auctions where the price paid varies with the rate bid A lower interest rate gives a higher price and vice versa Sometimes you will see these referred to as SM3 sales This is because the ability to sell at a variable price was introduced in the third stage of development of the Secondary Market SM3 In either case the seller is not obliged to accept the result of the sale It is therefore possible to be a winning bidder and still have your funds returned to you If this happens it should be quick normally within one working day of the auction ending Pricing The system calculates the price from the interest rate bid by discounting the future cash flows at that rate It does the calculation as at the start of the auction If the sale is accepted e the buyer gets the interest accrued between the start and finish of the auction for free and e any payments received after the start of the auction will go to the buyer if the sale is accepted This means that other things being equal Fixed Price sales are a relative bargain for buyers Sellers should be aware of this when selling at a fixed price However Fixed Price sales may off
18. apital Gain is the gain or loss on items sold on the Secondary Market e Capital Loss is the premium or discount on items bought on the Secondary Market At present there does not appear to be an account for underwriting fees The remaining two are balance sheet accounts which are rarely if ever used As far we are aware e Debtors is used only to hold the differences between cumulative amounts invoiced and received on certain old loans that were first recorded on Street UK s accounting systems before being transferred to ThinCats system once that was fully set up They are an artefact of differences between the two systems and will wash out over the life of the loans e Creditors is not used in reporting to lenders Arrears of interest are not invoiced and as a result do not appear in the accounts at all Thus debtors do not represent arrears Reconciling your accounts For lenders who like to reconcile their accounts this can be done as follows Description Cash 00 SSS suspense woo Total per Accounts Summary 1easoss SSS a O Debtors 000 Enteredasaminus Creditor oof SS SS isting Fee a Vat due from HMRC aC Capital Gain E e Capital Loss esp SSCS Cash paid to ThinCats less withdrawals Total The old ThinCats interface reported Cash paid to ThinCats less withdrawals The lack of this information is a currently a serious problem for anyone wishing to perform a reconciliation We understand that a report is u
19. cash is on the old Forum here http www forum thincats net wp content uploads 2013 12 CashProve1 xls In similar fashion clicking anywhere on the Suspense or Assets icons calls up the transaction history for those accounts Ideally the Suspense account would not show a complete transaction history but only open items which should be a very short list Unfortunately this has not been implemented yet A spreadsheet for finding the open items is on the old Forum here http www forum thincats net wp content uploads 2013 12 Suspense41 xls It appears that you do not need to be logged in to download these files ThinCats User Manual Version 2 0 Page 11 Dashboard Investment and Repayment Summaries Investment Summary Investment Summary Number Of Loans Invested In Number Of Bids Moving on down the top half of the Investment Portfolio screen the Investment Summary shows e Number of Loans Invested In this includes both items in Suspense and loans that have been fully repaid or where you have sold your investment e Total Bids this includes all successful bids again including both bids in suspense and bids on loans that have been fully repaid or where you have sold your investment The two numbers will differ if you have made more than one bid on a loan Unfortunately there are some problems with the numbers As well as including items that have been repaid or sold which some may see as illogical they also e inc
20. cting the loan again The six tabs give the same information as for the auction of the loan see page 16 the only difference being that because the auction has completed the Auctions tab does not let you bid It does however contain the final results of the original auction The most useful tabs are probably the Loan Details Documentation and Q amp A But do bear in mind that this information will not have been updated since the original auction ThinCats User Manual Secondary Market Buying cont Bidding Version 2 0 Page 24 Bidding can be done from any tab of the Auction View Let us assume that we want to make a Dynamic Bid After clicking on Place Dynamic Bid the following screen comes up Available Balance 3 000 00 Remaining Amount Enter Bid Amount Bid Amount 15 743 20 Bid Rate 11 00 Minimum Rate 11 00 Max Bid Price 15 743 20 Click here to be Events to monitor informed of bid marae Bid now misses the cut Place Bid Cancel events Click here if you want to enter your own amount Delete this and replace it with the minimum rate you will accept The system calculates the Maximum Bid Price based on the Bid Amount and your Minimum Rate The Bid Amount is the amount of the loan that you are bidding for at its par value It must normally be a multiple of 1 000 However because of repayments loan parts on sale are usually not in r
21. e Bid Increment Inspect Your Bid Buyer Alias Offer Date Offer Amount Offer Rate Allocation Allocated Amount Current Price thetrike 30 June 2013 10 25 31 2 000 00 9 05 50 00 1 000 00 1 019 07 3 The Vigster Co 30 June 2013 10 55 07 1 000 00 9 35 x 0 00 4 The Vigster Co 30 June 2013 10 54 26 1 000 00 9 60 x 0 00 ThinCats User Manual Version 2 0 Page 28 Other Notes Topic Use on Small Screens Old versus New Forums The Dropbox Changes Use on Small Screens Mobile Devices The screenshots in this manual are taken on a PC However it is possible to simulate the behaviour on a phone or tablet by changing the width of the screen As the width of the screen decreases two main changes occur 1 When the width of the window is less than 980 pixels the Sidebar disappears to be replaced by a Menu icon in the black menu bar at the top of the screen Business Loan Network Home gt Invest A Primary Market 4 Secondary Market Live as 6 Live Sales 0 Total 3 800 000 00 Total 00 Loans In Auction records per page Amount Amount guenon Time ang Current a Loan Name Required Bid Remaining Max Rate Action aiii aan 200 000 200 000 14 Dec 2013 3 69 days 10 49 10 00 It is likely that screens of this size or smaller will be on a touch screen device phone or tablet Touching the Menu icon gives a drop down menu across the full width of the screen with the sam
22. e functionality as the Sidebar Touching it again toggles the menu off 2 When the width of the window is less than about 780 pixels the columnar format of the tables is replaced by a list view as shown on the next page To see this you have to scroll down below the Primary and Secondary Market buttons Also shown is the Auction Summary screen that you see when you click on View for a specific Loan in Auction As you can see this has also changed to a vertical format ThinCats User Manual Version 2 0 Page 29 L eel T G Corporation Limited Loans in Auction B Info 10 records per page ii TARGET RATE LOAN TERM FIXED RATE INTEREST ONLY Auction Summary AMOUNT AVG RATE MAX RATE 250 000 10 40 10 50 o 47 20 Funded 132 000 Left Time left 20 67 days t i i k ez Loan Name UK Exim Limited Loan 3 Amount Required 200 000 Place a bid Amount Bid 200 000 BALANCE Auction Start 14 Dec 2013 at 00 10 00 DYNAMIC Time Remaining 3 69 days Fixed Rate x Place a bid ent Max Rate NA There are various other detailed changes but all of the functionality is supposed to be there Having said that it is not really practical to work with long lists in List View This limits the amount of administration that can be done on small screens We are aware that users of some Windows phones and older Android phones are unable to use them for bidding but otherwise reports a
23. e out Poor Joe It can be seen from the example that Dynamic Bids may be preferable to Standard Bids Another advantage of Dynamic Bids is that do not have to check the loan status or Email to see if your bid still makes the cut You do not have to manually rebid Against this if something comes to light in Q amp As which you do not like then you cannot withdraw your bid Also if another more attractive auction becomes available you cannot move your funds to that auction ThinCats User Manual Version 2 0 Page 19 Primary Market Bidding Let us suppose that you decide to make a dynamic bid from the Auction Summary page 15 You tick Dynamic and click on Place a bid This calls up the window below You can enter any bid below the current maximum for the auction and also a lower bid which is the minimum rate you will accept If you select Place Dynamic Bid from the any of the tabs on the Auction View page 17 the same drop down box appears If you do not tick Dynamic Bids or opt for Standard Bid then a similar screen without the variable rate appears You can elect to be notified if your Bid allocation is changed or if it misses the cut If you are given the option to be notified by text ignore it You should chose Email notification instead We believe that text notifications have been turned off since June 2013 New Bid Oj Available Balance 1 000 00 Bid Amount 1000 Bid Rate 9 5 M
24. elect a loan by highlighting it you can then elect to either Resell This Debt Obligation or View Loan Details using one of the buttons at the foot of the screen The Blue button View Loan Financials gives the original documentation and auction history and is described in detail in Secondary Market Buying page 23 it is the same as the button on Investment Portfolio The Yellow Resell This Debt Obligation button takes you to a screen which allows you to list the loan for sale on the secondary market See Secondary Market Selling pages 25 27 Warning As above if you list the loans over more than one page the system may revert to the first loan on page 1 To ensure that you do not sell the wrong Debt Obligation by mistake we suggest maximising the loans per page and noting the remaining principal value before you click the yellow Resell This Debt Obligation button ThinCats User Manual Version 2 0 Page 15 Invest Primary Market The Invest screen provides a summary of available investments Clicking on the large coloured Primary Market and Secondary Market buttons toggles between the Primary Market view shown below and the Secondary Market view You can click anywhere on the buttons the shaded View More areas have no special function The Primary Market view is shown by default It lists loans in auction including auctions soon to start and auctions that have recently finished For buyi
25. er sellers more speed and certainty In variable price auctions one would expect the benefits to the buyer earning interest immediately the free accrual etc to be reflected in the price and most sales do indeed take place at a premium to par value higher price lower interest rate Another possible reason for this may be simple supply and demand with many lenders looking for the diversification that the Secondary Market can provide but only relatively small amounts available Further information There is a ThinCats guide to the Secondary Market here https www thincats com Apps WebObjects thincats pfp woa pfp id 1780 rolbacpfp std 14624 ThinCats Secondary Market Introduction pdf It is not fully up to date the screens are from the old system but it contains important information about the administrative process fees etc ThinCats User Manual Version 2 0 Page 21 Secondary Market Buying Debt Obligations on Sale Once you have ticked the yellow Secondary Market button on the Invest screen you see a list of loan parts Debt Obligations on sale as shown below sellers names have been changed In this case none of the sales is at a fixed price Business Loan Network Your alias 0 IOTaAI 2 3 6UU UUU UU 10lal 4 U90 99 Debt obligations On Sale 10 records per page Search Fixed Price Part Sale Seller Borrower Sale Allowed Auction Start Time Remaining va X Oceana Business Park 19 74
26. ersion 2 0 Page 25 Secondary Market Selling Before selling on the secondary market you should understand how auctions are priced see page 20 Be very careful as you work through the process because there are some bugs which can catch you out If you select Sell from the Home Page or the Sidebar you arrive at the screen below which has four tabs e My Debt Obligations is shown by default and is where you select loan parts to sell e Pending Approval is not being used e Debt Obligations on Sale takes you to the list of loan parts on sale as described on page 21 e Sale Agreed is the history of the loan parts you have sold and is explained on page 27 Business Loan Network Home gt Secondary Market My Debt Obligations Pending Approval Debt Obligations On Sale Sale Agreed inthe tae Adjust the number of records per page here Loan Name Amount Bid Rate First Repayment Date Last Repayment Due Date Remaining Principal Refactored ITCL 2 2 000 00 2013 10 12 2 000 00 Active Trade Finance Loan Aconite Loan 2 to 2 000 00 i 2013 07 12 1 844 85 Active replace bank overdraft O ere Click on Resell This Debt Obligation to sell the Development Loan ADV Manufactwing 2 000 00 2013 044 highlighted loan part see warnings 1 and 2 below Working Capital Loan Showing 1 to 5 of 46 entries revious 1 2 3 4 5 Next Resell This Debt Obligation View Loan Details Warning 1 The syste
27. inimum Rate 8 5 BID Email Text Events to monitor o Bid allocation changed Oo Bid now misses the cut Once you click Place Bid a final screen gives you the choice of Confirm Offer or Cancel Confirm Bid Please check the details of your offer before confirming Bid Amount 1 000 BidRate 950 Bid Rate Minimum 8 50 The value of your bid immediately moves from Cash on your dashboard to Suspense If you are outbid your Cash immediately goes back up The loan remains in Suspense until the loan vests meaning all legal formalities have been completed and it is paid out Warning You may wish to keep a spreadsheet of your suspense account until your reports from the system improve ThinCats User Manual Version 2 0 Page 20 Secondary Market Introduction The Secondary Market is where second hand loan parts are bought and sold People sell their loan parts Debt Obligations for a variety of reasons they may need the cash they may have invested in the loan when interest rates were higher than at present and see the chance to sell at a profit they might be unhappy with the sector and want to decrease their risk Investors buy because it is a quick way of building a diverse portfolio of loans there is less risk of the money sitting unused when an auction fails and the loan is earning interest immediately Types of sale There are two types of s
28. lace a bid TARGET RATE 10 00 selenide 1 000 00 AMOUNT AVG RATE MAX RATE LOAN TERM 60 170 000 10 89 10 93 DYNAMIC FIXED RATE x MLULLLRLRLILILI II RaR Hoan INTEREST ONLY 129 41 Funded You have 0 successful bids in this auction SPONSOR Time left 1 02 days ThinCats User Manual Version 2 0 Page 16 Primary Market Auction Details Business Loan Network Borrower Dorset Electrical amp Fire Alarms Ltd Dorset Electrical buy out loan Auction Summary Auction Details Loan Details Dorset Electrical amp Fire Alarms Ltd Dorset Electrical buy out loan Summary Loan Details Sponsor Offers Documentation Q amp A Auctions Organisation Dorset Electrical amp Fire Alarms Ltd Loan Name Dorset Electrical buy out loan Creator MarkDamen Created 4 December 2013 09 00 21 State In Auction The Auction Details screen above has six tabs e Summary Shown above e Loan Details A brief description of the loan e Sponsor Offers This tab is used by Sponsors In the past it was not accessible to lenders In some auctions it now contains the Sponsor s name with a link to a list of all previous loans sponsored We are not sure if this is intentional The contents of the list appear accessible but are not Clicking on any loan in the list takes you back to the Sponsor Offers page e Documentation This provides downloadable information on the loan always a Sponsor s Report a
29. lude one loan Prestige Development Site Funding that was never drawn down this will not impact new members and e double count all loans that have been refactored rescheduled or amended Both the original loan and the refactored loan are included Repayment Summary Repayment Summary Invoiced Payment Received INTEREST OUTSTANDING PRINCIPAL OUTSTANDING 506 41 EIFE ORs OSE Range All Time x From To 09 12 2013 The Repayment Summary shows the amounts of Interest and Principal invoiced and collected both in figures and graphically Using the Range field allows you to use the calendar to select a specific period for instance the Tax Year If there is anything in debtors or if processing is incomplete the circles will have gaps in them During the monthly update of accounts amounts can often appear to be outstanding for a few hours This is because the invoices are posted separately from the cash received and is not a cause for concern More generally lenders should be aware that the accounts update is a manual process and takes a few days Until the update is complete don t panic As noted on page 9 arrears of interest are not invoiced and as a result do not appear in the accounts at all Thus gaps in the circles do not represent arrears ThinCats User Manual Version 2 0 Page 12 Dashboard Loans Invested in At the foot of the Investment Summary tab there is a list of loans invested in
30. m only lets you select a Debt Obligation on the first page If you try to select one from page 2 onwards it puts up the first loan from page 1 To work around this increase the number of records per page to the maximum before you click on Resell This Debt Obligation When you click on Resell This Debt Obligation the drop down screen below will appear Sell this Debt Obligation i Remaining Principal 2 681 12 Adjusted Par Value 2 682 22 Fixed Rate M Target Price 2 681 12 Sell Debt Obligation Cancel Warning 2 The system does not confirm which loan part you are selling If you have got the right one the Target Price with Fixed Rate ticked will equal the Remaining Principal This is not foolproof because there may be more than one loan part with the same balance Press the Sell Debt Obligation button to sell at par or untick the fixed rate box to sell at another price ThinCats User Manual Version 2 0 Page 26 Secondary Market Selling cont If you untick the fixed rate box a new line Target Rate appears You can then update the yield you want and the system will recalculate the price investors need to pay The loan shown below had a small number of months to run and therefore a large change in yield only produced a small change in price Sell this Debt Obligation Remaining Principal 1 000 00 Adjusted Par Value 1 000 05 Fixed Rate O Target Rate 8 00 Target Price 1 007 99
31. nd normally including Accounts and Credit References e Q amp A Questions from potential investors and answers from the Sponsors Any potential investor can pose questions there e Auctions Information on how the auction is going and a place to bid Clicking on this tab takes you to the auction via an intermediate screen below Business Loan Network Borrower Dorset Electrical amp Fire Alarms Ltd Dorset Electrical buy out loan Auction Summary Auction Details Loan Details Dorset Electrical amp Fire Alarms Ltd Dorset Electrical buy out loan Summary Loan Details Sponsor Offers Documentation Q amp A _ Auctions Auction Name Auction Start Auction End Allow Dynamic Bids of 1 b pi Records 1 1 1 Click the green View button to proceed ThinCats User Manual Version 2 0 Page 17 Primary Market Auction View Having clicked View on the Auctions tab you are taken to the Auction View This contains three tabs which differ only in the information given at the top of the screen e Auction Summary shown below gives summary information about the auction e Loan Summary gives summary information about the loan and provides a link back to the Loan Details e Auction Monitoring allows you to select what notifications you would like about the progress of the auction If you do not want to be swamped with information you may refer to leave some or all of these unchecked All three tabs let you see the bids on the a
32. nder development but until it is released lenders may wish to maintain a manual spreadsheet see next page ThinCats User Manual Version 2 0 Page 10 Dashboard Accounts Summary Data cont Transaction records Clicking anywhere on the green Cash icon in the Accounts Summary calls up a scrollable window containing a summary of transactions in the account Transaction Line Items Bank Cleared Account Balance 1 211 68 Reset Transaction List 100 records per page Reference Counterparty Narrative Amount Hidden 28 11 2013 Auction Offer 1 000 00 Auction Street UK Loan 2 Hidden 26 11 2013 Auction Offer 1 000 00 4 Auction Segkind Dalictad at Fivard By default all records are shown but it is possible to select specific periods You can choose to have from 5 to 200 records per page but only a few can be seen on screen without scrolling There are navigation arrows at the foot of the page The cash transaction history is very useful for keeping track of your account but unfortunately it does not have an export to Excel function To work around this e click and drag to select the items that you want e right click and select Copy e Paste Special as Text into Excel This works well in Chrome and Firefox but not in IE which concatenates the data so that it ends up in a single column It is important to use Paste Special because this removes all extraneous formatting A spreadsheet for checking
33. ng loans you have invested in for sale The icons for Invest and Sell are inconsistent with those on the Home screen It is to be hoped that this will be fixed in a future release On narrow screens the Sidebar disappears to be replaced by a drop down menu in the Menu Bar see page 28 If you are working on a narrow screen e g a mobile phone or a tablet in portrait mode all references to the Sidebar should be taken as referring to that menu Menu Bar The right hand end of the black Menu Bar contains four icons Two duplicate functions on the sidebar Inbox b Communications with ThinCats aka Mailbox Foum Discussion area area wm aeaee I i your profile Your alias Usermenu Access your Inbox Deposit and Withdrawal Requests Navigation bar On many but not all screens away from the Home page a horizontal grey navigation bar beneath the menu bar shows you where you are in the application ThinCats User Manual Version 2 0 Page 4 User Menu The User Menu has five options My Inbox Takes you to the Inbox see page 5 Deposit Request Self explanatory My Profile My Profile brings up a screen with three tabs There is considerable duplication between them e Profile contains some personal information and will provide a facility to upload avatars or photographs for your profile At present this is disabled e Organisation Settings are your organisation details including description and address These were first
34. ng on the Secondary Market see pages 20 24 Business Loan Network Home gt Invest tt Secondary Market Number of Live Auctions 6 Number of Live Sales 17 Total 1 470 000 00 Totak 53 010 30 Loans In Auction 5 Y records per page Search Loan Name Amount Required Amount Bid Auction Start Time Remaining Fixed Rate Current Max Rate Target Rate Action ST lai UK EXIM Ltd Loan2 200 000 200 000 06 Dec 2013 at 16 40 00 4 05 days 10 00 10 00 eae TopDog Excavators 300 000 67 000 07 Dec 2013 at 05 13 00 3 85 days 10 50 9 00 Wie Limited Dorset Electrical buy 170 000 170 000 05 Dec 2013 at 09 15 00 2 02 days 11 00 10 00 per out loan Trinity Xtras 200 000 200 000 29 Nov 2013 at 14 00 00 3 23 days 9 65 10 00 Cpe Showing 1 to 5 of 6 entries Previous 1 2 Next Auction Summary To get the Auction Summary below the highlighted line was changed to Dorset Electrical before clicking on View Warning Clicking on View for a loan that is not highlighted may pull up the highlighted loan instead Until you have money available to bid on the system the green button does not appear Before placing a bid you should look at Auction Details so you can read the documentation Business Loan Network Borrower porset Electrical amp Fire Alarms Dorset Electrical buy out loan Auction Summary Dorset Electrical amp Fire Alarms Ltd B Info Auction Summary P
35. on Summary Auction Monitoring Auction Ends 23 Dec 2013 at 09 00 00 4 89 days remaining Total Value of Offers 4 000 00 20 260 of minimum required Original Bid Rate 11 00 Max bid rate allowed 11 00 The seller is seekinga 19 856 13 Current Price 4 000 00 price of Minimum rate offered 11 000 Maximum qualifying rate 11 000 KORA ILO These buttons appear on all three tabs of the Bid Increment Auction view and work in the same way as they do on the Primary Market There are however some differences in Inspect Your Bid Place Standard Bid Place Dynamic Bid bidding as we shall see later Buyer Alias Offer Date Offer Amount Offer Rate Allocation Allocated Amount Current Price 2 Unter den Linden 17 December 2013 22 12 37 1 000 00 11 00 100 00 1 000 00 1 000 00 3 BigEm Investments 18 December 2013 11 34 10 2 000 00 11 00 S 100 00 2 000 00 2 000 00 z Id d Page 1 x of4 P Pil Records 1 3 3 ThinCats User Manual Version 2 0 Page 23 Secondary Market Buying cont This is the Debt Obligation Summary tab for Phase Four Creative Business Loan Network Home gt Secondary Market gt Auction View Auction View Joe DO for Loan Phase Four Creative Ltd MBO funding Auction Summary Debt Obligation Summary Auction Monitoring Amount 19 743 20 Clicking on View Debt Obligation Details takes you back to the DO Auctions tab of the previous screen which is
36. osit to be reflected in your account Amount Notes Withdrawal Request Selecting Withdrawal Request brings up a similar form through which you can request ThinCats to refund money to your bank account We have little experience of the service levels for withdrawals but would expect them to be credited within 4 working days This is based on 1 working day for ThinCats plus 3 working days for a standard bank transfer ThinCats User Manual Version 2 0 Page 5 Inbox aka Mailbox Business Loan Network Mailbox Home gt Inbox Inbox Sent Draft Trash The mail system is still under development and at present has limited functionality Compose Inbox Sent Draft and Trash are self explanatory Only the Inbox has a delete Dustbin button All mail is sent to seven people at ThinCats The latest version records mail as sent to seven people rather than showing each person separately There is as yet no Personal Message system nor any facility for attachments When you send Deposit or Withdrawal Requests a copy should appear in your Sent Mail ThinCats User Manual Forum Business Loan Network Forum Home gt Forum News News from Thincats about loans Software moans Moans about new software General Thincats General Affairs ine THREADS 3 THREADS 56 THREADS 54 POSTS 21 Version 2 0 Page 6 When you move the cursor over a button it turns green
37. ound thousands The system deals with this by also allowing you to bid for the Remaining Amount which is the amount for which there have so far been no bids There are some further constraints on what you can bid e Your Available Balance funds on the system must be enough to cover the Maximum Bid Price e Your Bid Rate cannot exceed the maximum rate for the auction as shown in the Bid Rate box e At present the system reduces Dynamic Bids on the Secondary Market in steps of 0 1 The difference between the Bid Rate and the Minimum Rate must be a whole multiple of 0 1 e There is probably a maximum limit to the bid range the difference between the Bid Rate and the Minimum Rate but in limited testing we have not found it After placing your bid you are asked to confirm it Warning there is no going back If your bid is valid the system will accept it and it will transfer the Maximum Bid Price from your Available Balance to Suspense The funds will remain in Suspense until the end of the auction unless your bid misses the cut when they will be released If your bid is successful and the seller does not reject the auction the loan part will normally be transferred to you within one working day of the end of the auction If the final price was less than your Maximum Price the balance will be released Standard Bids work in a similar way but the bidding box is simpler and there are fewer constraints ThinCats User Manual V
38. re mostly positive Old Versus New Forums The Old Forum at ThinCats Net is still open and postings can be made The main differences are wrea s Comment SSCS Access The New Forum is open to all members The Old Forum is open only to Speed of response The Old Forum is not often visited by the ThinCats Technical Director so Attachments Excel models word documents and other files cannot be attached to Meenas pstngsontheNewtoun OO The New Forum is not searchable Have not appeared on the New Forum Netiquette The Old Forum has stickies about appropriate behaviour The New Forum has not We think the disclaimer should have a companion note about netiquette Avatars are not yet supported by the New Forum Access to Dropbox There is a link to the Dropbox on the Old Forum but not on the New Forum ThinCats User Manual Version 2 0 Page 30 The Dropbox Members with funds on ThinCats will have received an invitation to join the ThinCats VIP area Some of its functions notably deposit notifications and withdrawal requests have been superseded by the new application but it also provides access to the Dropbox where reference material is stored ThinCats plan to move this reference material to within the application in due course but for the time being the Dropbox is where to find it To go to the Dropbox from the VIP area click on Past Auction Info and then on Dropbox This takes you to a screen with a number of
39. s Invested In e if you click on the headings the data is sorted either alphabetically or by value e the grey Export button allows you to export some or all of the items to Excel or a Text file e the check boxes on the left are used to select specific items for export Warning Although the loans you have sold are listed as expired they are still in included in the total if you add up the list Also loans that have been refactored are currently included twice both as the original loan and as the new loan shown as Refactored You need to be aware of and adjust for these items if seeking to reconcile the Remaining Principal as shown in this list to your Dashboard Loans that have been repaid are also included but with a nil balance and so will not affect the total Business Loan Network Debt Obligation List records per page Loan Name Amount Bid Rate First Repayment Date Last Repayment Due Date Remaining Principal TLC Loan 13 1 000 00 0 00 2015 11 20 1 000 00 Active LYD Construction 2 000 00 8 99 2013 11 12 1 970 75 Active Working Capital Loan Shielbog Renewables 4 000 00 9 50 2013 12 12 4 000 00 Active LLP wind turbine Relisted Clear Press Ltd 3 000 00 2013 12 12 3 000 00 Bookbarn business development loan Showing 1 to 5 of 46 entries Previous 2 3 4 5 Next gt Resell This Debt Obligation View Loan Details 2013 Business Loan Network 1 14 4 041213 p9 34 If you s
40. tanding of how the system worked When the new user interface was introduced in November 2013 Mandrake was asked to update the manual Alison agreed to help We have not been paid to write it We are both lender members retired accountants with no connection with ThinCats whatsoever other than as lenders The manual is provided as is and at no cost Whilst care has been taken in its preparation the authors can accept no responsibility for loss occasioned to any person acting or refraining from action as a result of any material in this manual The authors intend to update the manual from time to time but are under no obligation to do so Nothing in this manual or in any posting or absence of posting by either author on the ThinCats Forums or in the Q amp A on any loan should be taken as recommending or endorsing either ThinCats as a loan platform or any loan thereon Mandrake and Alison December 2013 Last updated 20 December 2013 ThinCats User Manual Version 2 0 Page 2 Home Screen Business Loan Network e 1 gt gt NAA syy AAAA gt VAA syy w gt Invest Deposit Request R a Primary amp Secondary Market Debt Obligations Withdrawal Request Cs admin thincats com We are continuously working on improving performance We apologise for any inconvenience and thank you for your My Profile patience The Home screen greets you and confirms your alias on the top right of the screen
41. ts not possible Reply WV Musonics 2013 12 16 Reply It s most probably accessible only to those who invested in the loan Steve A Normal text 7 Bold ltalic Underline Simply add a new post in the box at the bottom lt of the thread Version 2 0 Page 7 If you click on Reply to a post this will start a new post by quoting the post to which you are replying Alternatively If you want to change a post that you have made you will find that it has an Edit button Unfortunately the Forum does not yet support attachments and nor is it searchable ThinCats User Manual Version 2 0 Page 8 Dashboard Accounts Summary Data The Dashboard is where you view your investments and can access your transaction history It has two tabs Investment Portfolio and Debt Obligation List and opens at the Investment Portfolio tab The Investment Portfolio tab is really two screens in one The top half provides various summary data with access to some underlying transaction records while the bottom half provides a list of loans invested in with access to underlying records Accounts Summary Data Accounts Summary Data Assets 95 6 000 00 S S m Suspense Se o 110 450 85 116 450 85 Assets Total VIEW TRANSACTIONS TOTAL ON PLATFORM Suspense 07 See More Accounts v 5 The Accounts Summary Data analyses the assets you have in ThinCats and represents them graphically as a pie chart
42. uction By default they are sorted first by rate lowest first and then by time date earliest first This ensures that winning bids appear first and any losing bids are at the end Allocation is normally 100 or nil but if the marginal bid which is just on the cusp of being in or out is over 1000 then it can be reduced from say 5000 to 1000 20 Clicking on the Column Headings sorts the bids by different criteria In the screen below they are sorted alphabetically by Lender Alias This lets you find your own bid quickly and see who else is bidding Business Loan Network Home gt Invest gt Loan Details gt Auction View Auction View Dorset Electrical amp Fire Alarms Ltd Dorset Electrical buy out loan Auction Summary Loan Summary Auction Monitoring Max bid rate allowed 12 00 Auction Ends 11 Dec 2013 at 09 15 00 23 94 hours remaining The borrower is seeking 10 00 The borrower is seeking 10 00 Fixed a rate of a fixed rate of Minimum rate offered W Avg Rate Inspect Your Bid Place Standard Bid Place Dynamic Bid Offer Date Lender Alias Maximum qualifying rate Total Value of Offers Offer Amount 10 93 220 000 00 129 41 of minimum required Allocation Allocated Amount Zingababa Investments A 5 December 2013 16 23 30 1 000 00 100 00 1 000 00 WilliamsAssociates 5 December 2013 09 27 20 1 000 00 100 00 1 000 00 Waratah Investments 6 December 2013 21 20 1

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