EFTA02524703.pdf

From: jeffrey E. <[email protected]> Sent: Saturday, February 17, 2018 1:53 AM To: Paul Barrett Subject: Re: Amazon business lets talk On Fri, Feb 16, 2018 at 8:11PM, Paul Barrett < <mailto >> wrote: Jeffrey The Amazon lending business I invested in is looking to raise one year=money at 12%. They are looking for $3- 4mm as part of this first debt raise= There is a 15% equity first loss tranche beneath the 12% Notes. Assumi=g you get 2 quarterly coupons you need a lyr cumulative loss of 21% before=you lose any principal which is highly unlikely given the underlying loan =ook. They are forecasting 5-6% cumulative annual losses. Given the amount of data we have from Amazon, th=ir credit underwriting makes me comfortable with this estimate. Recall the= are making 3-9 month loans in the 20%-25% range. Average size of around $=5K. Repayment of principal and interest (via ACH debit) begins after 1-3 months. So effective duration is=very short. We can discuss more if you like but at 12% I want you to have first lo=k. For full disclosure I own 3% of the company and have money in the firs= loss equity tranche (along with Anthony and John). Down the road as they develop a longer default history the equity tran=he could be very interesting. Let me know. Paul Paul Barrett Alpha Group Capital LLC 1=2 W 57th Street, 11th Floor, New York, NY 10019 > (c) EFTA_R1_01664025 EFTA02524703  <=a> =AO please note The information contained i= this communication is confidential, may be attorney-client privileged,=may constitute inside information, and is intended only for the use =f the addressee. It is the property of JEE Unauthorized use, disclos=re or copying of this communication or any part thereof is strictly pro=ibited and may be unlawful. If you have received this communication =n error, please notify us immediately by return e-mail or by e-mail to =a href="mailto:[email protected]" target="_blank">jeevacation@gmai=.com, and destroy this communication and all copies thereof, inc=uding all attachments. copyright -all rights reserved --001a11412098dcd65905655eb63d-- conversation-id 14819 date-last-viewed 0 date-received 1518832352 flags 8590195713 gmail-label-ids 7 6 remote-id 795851 2 EFTA_R1_01664026 EFTA02524704