It took less than two hours yesterday (June 27) for lenders to snap up a £150,000 business loan on ArchOver’s ‘Secured and Insured’ crowdlending platform. The 12 month facility, offered on behalf of rapidly-expanding accountancy firm Spain Brothers, was the first new transaction to appear on the platform since the EU Referendum result was announced last Friday. Lenders will receive a return of 8% per annum.
Commenting on the loan, ArchOver CEO Angus Dent said: “We don’t yet know exactly what the future holds, but, far from retreating, we see this as a period of opportunity. We can demonstrate that the ArchOver platform remains in good working order for the benefit of ambitious SMEs and discerning lenders. Successful companies have clearly not lost the confidence to raise the finance they need to develop and grow their businesses, while lenders have equally not lost their appetite for keeping their investment returns as high as possible in this uncertain world.”
“It speaks volumes for the loyalty of our lenders who clearly appreciate our easy-to-access systems and trust our ‘Secured and Insured’ model to safeguard their interests as well as deliver attractive returns.”