Member Article

England rugby legend receives £300k to fund Twickenham business venture

Jeremy Janion, a former England Rugby International player, has received a further £250k to fund the expansion of his Twickenham-based ventilation system supply company

Jeremy has received two installments of a two-year loan from marketplace lender ArchOver, the first being a £300k package to fund expansion plans.

Ventalution then turned to ArchOver once again for an additional £250k loan, which was successfully fulfilled in February.

Jeremy Janion says: “We are a successful company providing ventilation solutions to new build residential property construction companies. Sales had trebled over a 12 month period but we wanted cash to fund our debtors’ book which over Christmas rocketed from £375k to almost £900k. The loan has largely alleviated the problem.

“The cost to the business is around 12% to include the insurance premium. ArchOver were prepared to loan 80% of our average debtor’s book over 24 months. The bank, on the other hand, would only lend us £100l.

“This approach is safer for the investor by lending against our secured debts – it’s very clever.

“Unlike a bank overdraft, I did not need to provide personal security because of ArchOver’s model which provides security from its charge over our debtors’ book and the insurance premium.”

This was posted in Bdaily's Members' News section by Ellen Forster .