ArchOver, the peer-to-peer (P2P) business lending platform, has become a member of UK Finance, the newly created trade body for financial organisations in the UK. Following its acceptance into the Asset-Based Finance Association (ABFA) last month, ArchOver will represent the interests of peer-to-peer lenders in the new group. This latest industry recognition underscores ArchOver’s position as one of P2P’s leading players and a key voice in the industry.
UK Finance will combine six financial trade bodies, including the British Bankers Association, Payments UK and the ABFA, and will act as a united voice lobbying government on standards in the financial sector. ArchOver is committed to a highly secure model of lending, with its Secured & Insured and Secured & Assigned lending models emphasising lender security with an all-asset charge. It is well-placed to represent the interests of P2P in the organisation – it has expertise in in-depth credit analysis and monthly monitoring, as well as sourcing credit insurance policies and rapid dispute resolution service for borrowers.
The membership reinforces ArchOver’s ability to help mid-market businesses secure up to £10m in funding, with the company having already facilitated over £40m in financing over its platform. Boasting no borrower late payments, no defaults and no losses over the past three years, ArchOver has shown that it can deliver ROI for investors as well as helping borrowers achieve their goals.
“We’re delighted to take our place in UK Finance as it begins its work as the voice of the finance industry, and we look forward to representing P2P on a national stage,” commented Angus Dent, CEO at ArchOver. “As part of the association we will continue to build on our success, providing SMEs with quick, secure access to the funding they need to grow, and helping private investors make their money work for them in a challenging economic climate.”