26th June 2014
On 27 May, ArchOver Ltd. launched the world’s first internet-based ‘secured and insured’ crowdlending platform offering low-interest loans to borrowers – typically SMEs looking to secure or develop their businesses when bank finance proves too onerous or costly.
ArchOver has now received backing from the insurance and finance services group, Hampden, who have been described by Brian Basham, Executive Chairman of ArchOver, as: “a long-term strategic investor with considerable success in supporting early stage companies.”
As part of the Hampden group of companies, Seymour Taylor are now also investors in ArchOver Ltd. and as such, will be able to refer their contacts – or other MGI businesses – to ArchOver for funding. This creates many opportunities for diversification for Seymour Taylor as they help businesses looking to grow but are not able to secure funding from mainstream lenders.
As well as offering security for lenders, on the debtor book, lenders also have the comfort of the loan being insured, which ArchOver believes is currently unmatched anywhere in the global crowdfunding sector. ArchOver provides lenders with a 5% return with a minimum loan of £5,000. Borrowing is targeted at applications from companies seeking a minimum of £75,000 with a headline of 6%.
There are many advantages for businesses who come to ArchOver for financial assistance, as well as to those who are looking for a decent return on their savings and Seymour Taylor are more than happy to be part of this ‘arching over’ process.
Simon Turner, MD of Seymour Taylor said: “I am delighted that ArchOver has joined the Hampden group as it shows our real appetite for growth, while providing some further financial services diversification. This investment also provides our clients and, in fact, all MGI related clients with real access to funding as well as opportunities for investors.”
If you would like further information, please contact Simon Turner. You are welcome to visitwww.ArchOver.com or to see the full press release click here.