Symcredit performing auto loans - P2P income

1Private and conditional. Unauthorised distribution strictly prohibited. © 2015 Symfonie Capital
LLC
P2B Performing Auto Loans
Secured Lending to Professional Borrowers
October, 2015

LLC
Contact
US: +1 646 863 9450
UK: +44 20 7339 3127
CZ: +420 227 023 999
msonenshine@symfoniecapital.com
This publication has been prepared by Symfonie Capital LLC
(Symfonie) for information purposes only. It is not an offer or
solicitation for the purchase or sale of any financial instrument.
Reasonable care has been taken to ensure that the information
contained herein is not untrue or misleading, but no representation is
made as to its accuracy or completeness. This document is
confidential and proprietary to Symfonie. Transmission or publication
of this document without the express prior consent of Symfonie is
strictly prohibited. Symfonie reserves all legal rights in connection with
the publication of this document.
© 20015 Symfonie Capital LLC

3Private and conditional. Unauthorised distribution strictly prohibited. © 2015 Symfonie Capital LLC
How it Works
• SymCredit originated loans to US registered and regulated auto finance companies
• Performing collateral – Finance company provides pool of performing auto loans to
cover 100% of the amount borrowed.
• Collateral substitution rule – the company must replace loans that become non-
performing with performing loan
• Recourse beyond the collateral - Additional security provided by full recourse to the
auto finance company with general lien on all company assets.
• Transparency - auto finance company provides its financial operating statements,
credit metrics of the collateral pool, names and background of owners and managers.
• Loan Servicing – SymCredit handles all administration and payment servicing for life
of the loan.

Loan Listing – FF Credit Corp
• New York State licensed
sales finance company.
• Operating since 2001.
• Owner managed.
• 4 employees
• $3 - $5 mn of loans
owned and/or serviced
each year.
• $450,000 annual
revenues
• Use of proceeds is to
grown loan book
• 20% of borrowers are
repeat business
• Up to $1 mn
• Continuous book build
with closing every
$100,000.
• 9.5%, 3 years, monthly
principal and interest.
• Collateral pool – 100%
coverage with
performing loans.
• Recourse to company
with general lien on all
assets.
• 5X EBITDA / Interest
• 3X Debt/Equity.
• Loans secured with
registered lien on cars.
• Maximum loan to value
ratio 80%
• Maximum borrower
income / monthly
payment 20%
• Verifiable employment,
income, assets owned
• Loan co-signed
• Min. FICO 550
• Interest rates 12% -
24%
• Losses on loan portfolio
less than 5% overall.
About the LoanAbout the Borrower About the Business

Platform Structure Geared for Investor Needs
• SymCredit is agent and
originator
• Professionally serviced
• Collateral administered
• Borrower monitoring and
reporting
• Managed loan recovery
process
• Direct recourse to
borrower
• Purchase a share of the
loan
• Borrower monitoring
and reporting
process
• Direct recourse to
borrower
• Borrower dependent,
asset backed note
• Borrower monitoring
and reporting
process
• Transparent write-off
process
Join the SyndicateWhole Loans Purchase a Note

Loan Syndication Structure
Borrower
Symfonie P2P Investments, , LLCLenders
• Take assignment of receivables from
the Loan Contract
• Direct recourse to borrowers in case of
default or failure of loan agent.
• Loan originator and arranger
• Manages the loan as lender and as
agent for all the Lenders
• Prepares due diligence file
• Collateral admin and borrower
monitoring
• Auto finance company
• Provides collateral pool of
performing loans
• Substitutes performing loans for
non-performing loans
• Accepts general recourse in addition
to posting collateral

Borrower Dependent Notes Structure
Symfonie Auto Lending Trust
Symfonie P2P Investments, , LLCNoteholders
• Noteholders purchase loan notes – for
Whole or Fractional Loans, receive
principal and interest payments
• Loan originator and arranger
• Manages Trust Asset
• Prepares due diligence file
• Collateral admin and borrower
monitoring
• Bankruptcy protected investment
trust
• Subject to law of Delaware, USA
• Legal owner of all loans
• Issues notes to investors who
purchase loans

Origination Process – Credit Driven
Borrower Assessment
Evaluation of each borrower’s
business as a whole
Credit Rating
Scoring based on
borrower financial
statements
Due Diligence
Verification of facts presented by
borrower.
Credit and UCC filing checks
Monitoring
On-going review of loan
performance
Reporting to investors
Restructuring loans and
taking legal action to recover
if necessary.
Site Listing
SymCredit credit committee
approves or rejects each
borrower. Materials package
prepared for site and
distribution to investors

Ideal Investor Profile
• Investors seeking relatively stable returns
over time
• Investors who understand Peer to Peer
lending and are looking for diversification
from their existing P2P investments
• Investors seeking a relatively high yield for
savings and who are able to accept a
moderate level of risk
• Investors willing to match the term of their
investment to the underlying maturity of
the loan
• Invest must be “accredited” or “qualified”
according to SEC definitions

Key Risks
• Collateral pool defaults
• Deterioration of borrower’s credit quality
• Missed/late borrower payments
• Loans may need to be restructured
• Borrower defaults
• Liquidity
• Limited transferability
Risk warning – the notes are not guaranteed. Investors may lose interest and principal in case there is a
high default rate among the loans in which the portfolio invests.

SymCredit Investor Fee Structure
• Loan servicing fee 1% - 1.5% of loan
value, collected from each interest
payment – means zero fee for principal
collection.
• No collection charges for chasing late
payments.
Risk warning – the notes are not guaranteed. Investors may lose interest and principal in case there is a
high default rate among the loans in which the portfolio invests.

When Things Go Wrong…..
• Keep lenders informed
• Work with co-operative borrowers to achieve full loan performance
• Obtain judgements in accelerated process under arbitration
• Exercise rights under UCC
• Initiate legal process at SymCredit’s own cost and risk
• Enable lenders to have direct legal recourse if they so choose
• Clear, transparent, time driven process enables investors a contractual write-off for tax
purposes
• Pass 90% of net collection proceeds back to investors

How to Invest
• Only available to accredited and qualified investors.
• Open account with SymCredit
• Select Notes or Syndication
• Read and agree to terms and conditions
• Fund your SymCredit account
Warning: Peer to Peer loans involve risks. There can be no guarantee or promise
that any level of return will be achieved. Part or all of any principal invested can be
lost. Neither Symfonie nor its affiliates offer any warrantee or guarantee. Each
investor is responsible for evaluating the risks and the potential returns to its own
satsisfaction and without relying on Symfonie.

LLC
Symfonie Track Record
May, 2015

Symfonie Lending Fund – Steady Returns
• 5 year P2P loan portfolio returns
approximately 8.5% annually
• 3 year P2P loan portfolio returns
approximately 6.5% annually
Source: Symfonie. Charts above reflect the performance of the 2019 (5 year) and 2017 (3 year) class of Symfonie Lending Fund, LP, net
of management and administrative fees. Management fees are 1.5 % and 1.25 % respectively. Administrative fees are 0.75 %.

Symfonie Performance by Site
Performance by Site
Statistics up to 04/2015 Lending Club Prosper Funding Circle Bondora
Average Gross Yield to
Maturity
12.6% 12.5% 10.4% 26.5%
Target Net Yield to Maturity 8.7% 9.2% 8.3% 15.8%
Average Time to Maturity
(years)
4.3 3.9 3.1 2.2
Average Loan Age (years) 1.16 0.8 1.2 1.3
Loan Loss Impact on Portfolio 0.3% 1.23% 0.3% 19%
Overall Average Rating B- B- B- C-

Symfonie EM Credit – Consistent Outperformance
Source: Symfonie. Chart above reflects the performance of the credit strategy implemented within the MT Thaler New Europe Fund
during the time Symfonie principal Michael Sonenshine was responsible for the Fund’s investments in credit instruments.
0.80
0.90
1.00
1.10
1.20
1.30
1.40
Jan-05
M
ar-05M
ay-05
Jul-05
Sep-05
N
ov-05
Jan-06
M
ar-06M
ay-06
Jul-06
Sep-06
N
ov-06
Jan-07
M
ar-07M
ay-07
Jul-07
Sep-07
N
ov-07
Jan-08
M
ar-08M
ay-08
Jul-08
Base=1
Hedged WE XOVER
Hedged EEI
Hedged EMCI
USDLIBOR 1M
Symfonie
HEDGED WE HY

Symfonie Global High Yield – Successful Track Record
Source: Symfonie. Chart above reflects the performance of the Ceska Sporitelna High Yield Fund during the time Symfonie principal
Michael Sonenshine was responsible as investment advisor to the Fund.
Symfonie Global HY
90
105
120
135
150
165
180
195
210
225
240
31-O
ct-0831-Dec-08
28-Feb-0930-Apr-0930-Jun-0931-Aug-0931-O
ct-0931-Dec-09
28-Feb-1030-Apr-1030-Jun-1031-Aug-1031-O
ct-1031-Dec-10
28-Feb-1130-Apr-1130-Jun-1131-Aug-1131-O
ct-1131-Dec-1129-Feb-1230-Apr-1230-Jun-1231-Aug-1231-O
ct-1231-Dec-12
IndexNov1=100
ML WE HY SYMFONIE EU XOVER EMCI

LLC
SymCredit Team
October, 2015

• One of the first platforms in CE market
• Launched in 2015
• Focus on Business Loans
About SymCredit

Symfonie Investment Team
Michael Sonenshine CFA – Investment Principal
Mr Sonenshine has more than 20 years of experience in banking and investment
management, specialising in credit investments. His investment process is research
driven with an emphasis on fundamental analysis. He founded Symfonie Capital LLC in
2012.
2003–2012 MT Thaler, Prague/London: CEO/Partner, Head of Research. Investment funds focused on
central and eastern Europe and pan-European credit markets
2000–2003 CSFB, London: European High Yield Debt Research
1998–2000 ING Bank, London: European High Yield Debt Research
1995–1998 ING Investment Management, Prague: CEO, Czech Republic
1994–1995 ING Bank, London: Analyst
1993–1994 Driehaus Capital, Prague: Analyst
1992–1993 Evrobank, Prague: Advisor
MBA William Simon School, University of Rochester
B.A., Tufts University

Symfonie P2P: Michael Sonenshine – CEO
Michael Sonenshine, CFA – Investment Principal
Mr. Sonenshine has more than 20 years of experience in banking and investment
management. He specialises in credit investments. He founded the Symfonie
group of companies in 2012.
• MT Thaler, Prague/London: CEO/Partner, Head of Research. Investment
funds focused on central and eastern Europe and pan-European credit
markets
• CSFB, London: European High Yield Debt Research
• ING Bank, London: European High Yield Debt Research
• ING Investment Management, Prague: CEO, Czech Republic
• ING Bank, London: Analyst
• Driehaus Capital, Prague: Analyst
• Evrobank, Prague: Advisor
• MBA William Simon School, University of Rochester
• B.A., Tufts University

23
Symfonie P2P: Peter McGregor – Chief Operating Officer
Mr McGregor oversees all administrative and operational issues for
Symfonie in the P2P arena.
• More than 25 years experience in banking and operations management
• Banco Nacional de Guinea Ecuatorial, Malabo, Equatorial Guinea – Chief
Operations Officer
• MT Thaler Investment Management, Prague – Chief Operations Officer.
• ING Bank, Monaco, Budapest, Prague – Wholesale banking and wealth
management operations
• ABN AMRO, Geneva – wealth management operations and product
management
• PhD, Computer Science, Oxford University, England
• BSc (Hons) in Mathematics, Witwatersrand, Johannesburg, South Africa

24
Symfonie P2P: Stepan Alexa – Chief Technology Officer
Mr. Alexa is responsible for the architecture and implementation of the
company’s IT solutions.
• More than 15 years professional experience in systems development
• Implemented database systems in Central and Eastern Europe for T-Mobile,
Vodafone and MTS Russia
• Sales Director, Oracle, Central and East Europe
• MSc, Economics and Computer Science, Prague College of Economics

25
Symfonie P2P: Jitka Rombova – Chief Financial Officer
Ms. Rombova is responsible for overseeing and monitoring the
company’s finance.
• More than 20 years professional experience in managerial finance and
business development
• Partner, CQK Invest, providing financial and business support to innovative
startup companies
• 10 years experience in senior management positions in HBO Europe,
promoted to CFO
• MBA, University of Pittsburgh, Diploma, University of Chemical Technology,
Prague

Symfonie Advisory Board
The Symfonie Advisory Board is a group of highly experienced financial professionals. Symfonie has
regular meetings with the Advisory Board to discuss the Fund’s investments, strategy, research on
P2P providers. Advisory Board members are independent of Symfonie and do not have legal or
regulatory authority or status within Symfonie.
Willem Naves / Holland
• More than 25 years of experience in investment and corporate banking
• Banking advisory projects in Macedonia, Poland, El Salvador and Indonesia
• Twenty years experience in credit trading management positions in the ING Group, working in Amsterdam,
London and Sao Paolo
• Erasmus University degree in Law
Pavel Kohout / Czech Republic
• Fifteen years experience in economic analysis and investment management
• Director of Strategy at Partners Advisors, a leading Czech financial advisory firm
• Author of several books on economics
• Member of Czech National Economics Advisory Board
• Member, Expert Panel of Advisors to Czech Ministry of Finance

The Symfonie Advisory Board is a group of highly experienced financial professionals. Symfonie has regular
meetings with the Advisory Board to discuss the Fund’s investments, strategy, research on P2P providers. Advisory
Board members are independent of Symfonie and do not have legal or regulatory authority or status within Symfonie.
Maarten van den Belt / UK
• More than twenty five years of experience in investment and corporate banking
• Credit risk management and loan officer positions at NMB Bank, the Netherlands
• Corporate high yield bond management during the formative years of the European high yield market
• Senior management positions in treasury and lending at ING Bank, Raiffeisen Bank and West LB
• Developed and managed capital markets trading and consumer banking businesses in Tokyo, Moscow and London
• Managing partner responsible for alternative asset manger with $400mn AUM focused on investments in Russia
• Non-Executive Directorships with TMM, a leading Ukrainian real estate developer and Pristav, one of Russia’s largest consumer debt
collection agencies
• University of Utrecht, Social and Business law
Charles Klein / China
• Twenty years experience in corporate finance and treasury management
• Management positions in General Motors with responsibility for currency portfolios, asset acquisition and disposition and financial
reporting systems
• Resident in China, fluent in German and Russian
• MBA, Wharton School of Management
Symfonie Advisory Board

Disclaimer
• This document has been prepared by Symfonie Capital LLC (“Symfonie”) for persons reasonably believed by Symfonie to be persons of the categories
to whom Symfonie are permitted to communicate financial promotions. This document does not constitute or form part of any offer or invitation to sell, or
the solicitation of an offer to subscribe or purchase any investment. Symfonie believes that the information it provides is accurate as at the date of
publication, but no warranty of its accuracy or completeness is given and no liability in respect of errors or omissions is accepted by Symfonie or any
partner or employee of Symfonie. Past performance is not necessarily a guide to future performance.
• This presentation is for illustration and discussion purposes only and is not intended to be, neither should it be construed or used as, financial, legal, tax
or investment advice nor an offer to sell, nor a solicitation of any offer to buy, an interest in any of the funds managed by Symfonie (the “Funds”). None
of the Funds have shares registered under the U.S. Securities Act of 1933, as amended. None of the Funds will be registered under the U.S. Investment
Company Act of 1940, as amended. Any offer or solicitation of an investment in any of the Funds may be made only by delivery of a respective fund’s
Confidential Offering Memorandum to qualified prospective investors.
• This presentation is as of the date indicated, is not complete, and does not contain certain material information about the Funds, including important
disclosures and risk factors associated with an investment in any of the Funds.
• Any indications of interest from prospective investors in response to this material involves no obligation or commitment of any kind. Subscriptions can be
made only on the basis of a Confidential Offering Memorandum to qualified investors. The investment objectives and methods summarized in this
document represent our current focus and intentions.
• There is no assurance that Symfonie will achieve its objectives or that its investment process or risk management will be successful. Investors may lose
money. No representation is made that any of the Funds will or are likely to achieve their respective objectives or that any investor will or is likely to
achieve results comparable to any that may be shown or will make any profit at all or will be able to avoid incurring substantial losses. Past performance
is no guarantee of future results.
• This presentation does not take into account the particular investment objectives or financial circumstances of any specific person who may receive it.
Before making any investment, you should thoroughly review the particular fund’s Confidential Offering Memorandum with your financial and tax advisor
to determine whether an investment in the fund is suitable for you in light of your financial situation.
• This presentation is subject to revision and updating. Certain information has been provided by third-party sources and, although believed to be reliable,
it has not been independently verified and its accuracy or completeness cannot be guaranteed.
• This presentation is confidential, is intended only for the person to whom it has been delivered and under no circumstance may a copy be shown,
copied, transmitted, or otherwise given to any person other than the authorised recipient.
• Symfonie is solely responsible for the content herein.

Symcredit performing auto loans - P2P income

Recomendados

Recomendados

Más contenido relacionado

La actualidad más candente

La actualidad más candente (20)

Destacado

Destacado (14)

Similar a Symcredit performing auto loans - P2P income

Similar a Symcredit performing auto loans - P2P income (20)

Último

Último (20)

Symcredit performing auto loans - P2P income