ArchOver expands business lending offering

ArchOver has launched its ‘secured and assigned' business loans, an expansion of its previous ‘secured and insured' offering.

Under the old model, the fixed-term business lender offered loans secured against a company’s accounts receivable, which are covered against loss by credit insurance.

ArchOver’s new model will secure loans against future contracted revenue, with the lender taking assignment of all recurring contracts.

The firm will, however, continue to offer secured and insured loans. 

The first of these new loans will be issued to Ergowealth, a firm of chartered financial planners based in Marlow, Buckinghamshire.

Ergowealth requires funding to expand its newly launched mortgage advisory service and accelerate its growth strategy. 

Angus Dent, CEO at ArchOver, said: “We are continuously reviewing opportunities that benefit both our lenders and borrowers. 

“Lender security has always been the backbone of our business and we are delighted that we can find additional loan opportunities that align with our values and that are also attractive to our lenders. 

“We are always striving to improve our services and provide multiple lending opportunities to our investors, which means we must continue to build our borrower pipeline. 

“Most importantly, there are many established UK businesses that need help to grow, but cannot access the financing they require due to the endless red-tape and reduction in SME banking services.”

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