Post by m2btj on Jan 10, 2023 15:45:46 GMT
We are contacting you to let you know some important information about ArchOver and our plans for 2023 and beyond.
ArchOver has made the strategic decision to exit the P2P market effective from today (10/01/2023) and we will not be accepting any new retail Lenders and will not be posting any new P2P investment opportunities to our platform. As you are well aware, our main focus to date has been on P2P, but increasing costs and regulation, alongside unpredictable Lender appetite during these volatile times, means we need to move to a model that gives us volume and security of funds, and that means institutional money.
It is important to state that from a Lender’s point of view, nothing will change moving forward. Your investment(s) will continue, ArchOver will still service your loans and any recoveries and carry out our usual monthly monitoring etc. as before.
For a couple of Borrowers who have loans coming up for refinance in the very near future, we may grant these businesses a short term extension for their capital repayment whilst they seek to raise alternative funds. We will be in touch separately with regards to these extensions.
If you have any questions, please email us in the first instance and we will respond to you as quickly as we can.
Kind regards,
ArchOver Lender Team
ArchOver has made the strategic decision to exit the P2P market effective from today (10/01/2023) and we will not be accepting any new retail Lenders and will not be posting any new P2P investment opportunities to our platform. As you are well aware, our main focus to date has been on P2P, but increasing costs and regulation, alongside unpredictable Lender appetite during these volatile times, means we need to move to a model that gives us volume and security of funds, and that means institutional money.
It is important to state that from a Lender’s point of view, nothing will change moving forward. Your investment(s) will continue, ArchOver will still service your loans and any recoveries and carry out our usual monthly monitoring etc. as before.
For a couple of Borrowers who have loans coming up for refinance in the very near future, we may grant these businesses a short term extension for their capital repayment whilst they seek to raise alternative funds. We will be in touch separately with regards to these extensions.
If you have any questions, please email us in the first instance and we will respond to you as quickly as we can.
Kind regards,
ArchOver Lender Team
