ArchOver Launches Highly Competitive Short Term Finance Product ATUF To Compliment Secured & Insured
ArchOver, the fastest growing B2B Crowdlender in the UK* announces the launch of the ArchOver Top-Up Facility (ATUF).
The facility allows companies that already borrow across the ArchOver platform ‘immediate access’ to short term funds for up to 90 days. A flat monthly rate of 0.83%, with no other fees, means ATUF is significantly cheaper than other short term Crowdlending solutions.
The speed of the loan means that companies are able to further their association with ArchOver and avoid expensive and time consuming administration associated with other short term invoice finance providers.
Angus Dent, CEO of ArchOver said:
‘ATUF provides a true financing partnership to exist between us and our Borrowers. ArchOver’s model allows us to take time to understand our client’s businesses and ATUF is a natural extension to maximising the relationship in helping our Borrower’s grow”
It provides our borrowers with the vital addition of short term funds, often same day, alongside longer term finance in keeping with our aim of eliminating rising interest rates, the tyranny of personal guarantees and the insecurity of hand to mouth financing that stifles confidence and inhibits planning.’
ATUF has already been used successfully by a number of existing ArchOver Borrowers to support their growth. Angus continued by saying:
‘ATUF investors still enjoy the security of ArchOver’s pioneering use of credit insurance and first charge security over the Accounts Receivable at a minimum, monthly monitored LV of 125%. This is how Crowdlending should be; supporting good companies to grow’
ArchOver is regulated by the Financial Conduct Authority.
*AltFi Q1 and Q2 2015 fastest percentage growth UK B2B lender