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Post by danegeld on Jul 3, 2019 22:14:55 GMT
Call me cynical, but.... I really can get my head around the latest Archover loan service: “Esca**** Funding” - as revealed in today’s email. To me, this is nothing more or less than an unsecured loan to a particular borrower - and at a somewhat unattractive rate. What am I missing here?
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Post by timarchover on Jul 4, 2019 13:13:37 GMT
Hi danegeld , Thank you for your comments. Please note that this is a Secured loan. ArchOver will be taking an All Asset Charge against C********* B******* S******** Limited (T/A Esca****). The value of the security is primarily made up of the IP and operational/contractual relationships developed by the business as well as any contractual payments that may become due in ongoing ‘engaged casework’ contracted to the Esca**** professional parties. As part of the security we have also taken additional written assurance of support from the three founding firms, made up of two large Solicitor firms and a large Accountancy firm to financially support the business over the term of the loan. More details of these firms can be found on the website. |
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Nomad
Member of DD Central
Posts: 727 
Likes: 494
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Post by Nomad on Mar 31, 2020 15:24:17 GMT
A further tranche is now available. One of the few borrowers on this platform which is showing profits. However I'm unsure of the real value of the "written assurance of support" from the borrower's founding firms...
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