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EXPERT VIEW FUNDING


FUNDING THE UK’S FUTURE By Angus Dent, CEO ArchOver F


our out of five entrepreneurs are predicting growth over the next 12 months, according to July’s Enterprise


Index research by Smith & Williamson. Furthermore, a study by the Centre for Economics and Business Research (Cebr) and Hampshire Trust Bank, released in October, predicts that SME contributions to the economy will grow by 19% from 2016 to 2025, which means they will contribute £241 billon to the UK economy by 2025. But the question remains, if SMEs are being left with no means to finance this growth, since many traditional lenders are leaving them high and dry when they need the funds the most, then how is the UK meant to flourish? The answer is that businesses will need


to turn to other forms of finance to achieve their goals. This is where the P2P sector comes in. With £1 billion lent through P2P


platforms in Q1 2017 alone, the sector is becoming a real, viable solution for businesses seeking finance – and for investors seeking a favourable return. The banks are no longer the only option: the uncertainty of the last financial meltdown has created an environment of opportunity for P2P platforms to help UK businesses and investors alike. Prospect Business Centres


(“PBC”) is one of the many UK SMEs that have turned to alternative financing platforms to fuel their growth. PBC provides Grade A office space for a range of businesses,


www.smeweb.com


from one-man start-ups to blue chip companies. Initially a single centre established in Leeds in 1980, PBC now operates seven sites and growing in both Leeds and London and are continuing to expand. Despite the strength of their proposition, PBC were burdened with two expensive facilities which limited them in their growth. They looked to ArchOver, the P2P business lending platform, to help them exit these facilities, and provide a boost to their working capital. ArchOver worked closely with the


business to fully understand their model. They discovered that PBC’s established operations demonstrated a record of growth and profitability while maintaining and developing a highquality five-star service. Their retention rates were consistently higher than the industry average, primarily because they took the time to get to know and develop a relationship with each client. ArchOver saw the potential of PBC’s


predictable contracted revenue stream, low customer churn, and sustained profitability, and agreed to place a series of loans totalling £3.1 million on their platform. Between June and October


2017, ArchOver’s community of lenders funded the full series of “Secured & Assigned” loans, which were secured against PBC’s


future contracted revenue, with ArchOver taking assignment of all recurring


SME 11


contracts. Lenders received returns of between 8 – 8.5% p.a., and PBC is using the funds to expand their business, having already added another property to their portfolio. Charlie Cudworth, Managing Director of PBC, says: “It was ArchOver’s commitment to working closely with our business to understand our requirements coupled with its ability to package a series of loans together which made it an ideal choice.” Angus Dent, CEO of ArchOver,


commented, “We aim to help British businesses and have worked hard to raise awareness about alternatives to traditional lending which also maximise returns for investors.” ArchOver launched in 2014 to help


UK businesses gain access to finance. To date, they have facilitated over £60 million in funding for SMEs, successfully helping them achieve their growth goals. ArchOver offers fixed term, fixed rate, and fixed amount loans to established UK SMEs, seeking a minimum £250,000 loan. They don’t take personal guarantees and there are no fees for early repayment. Loans can be for any legitimate business purpose, and ArchOver is open to reviewing companies across all sectors.


For more information, please contact the Commercial Team at commercial@ archover.com or 0203 021 8100, or visit their website www.archover.com


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