1. finance

JustCash Flow PLC : RNS Announcment
Innovative link up with leading P2B
crowd lending platform 05 May 2015
The directors of Just Cash Flow Plc (“Just Cash Flow” or the “Company”) are
delighted to announce an innovative linkup between the Company and leading
P2B crowdlending platform FundingKnight. The companies have entered into
a relationship that is intended to raise a minimum of £4m from retail investors
through a series of loans.
Just Cashflow provides businesses with an alternative to a traditional bank
overdraft and in its first year has built a loan book of over £6m. Expert and
experienced underwriting has delivered a high quality loan book with zero
capital losses.
The arrangement will leverage this underwriting experience and effectively expand
the range of businesses that can be supported through the FundingKnight lending
platform.
FundingKnight currently offers term loans to businesses with a minimum two year
trading record and two other products – property bridging and renewable energy,
which allow other businesses to tap into its sources of funding.
The new arrangement with Just Cashflow is consistent with FundingKnight’s
promise to support small and medium companies who typically struggle to secure
finance through traditional lenders.
Under the new arrangement, the funding generated by FundingKnight will
provide finance facilities to growing UK businesses that have already been
approved by Just Cashflow.
Typically, these companies might be too young to qualify for the a FundingKnight
loan but meet Just Cashflow’s underwriting criteria that places additional emphasis
on experience, business planning and Directors’ personal and financial involvement.
Just Cashflow will then use this new capital to support more UK businesses.
Just Cashflow Director, John Davies, says, “This is excellent news for UK businesses
as our experience shows that as they grow they need access to finance and need to
establish a record of successfully borrowing and making repayments.
This arrangement will effectively increase the early funding available to businesses
and importantly help them establish a good credit record which will be invaluable
in the future. “
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JustCash Flow PLC : RNS Announcment
Funding Knight’s Chief Executive, Graeme Marshall says, “This relationship
represents a fantastic way for FundingKnight lending community to continue to
support a wide range of UK SME’s by plugging into Just Cashflow’s experience,
underwriting and growth aspirations.
This provides a complementary investment opportunity to the wide range of
other FundingKnight loans, and enables more UK businesses to benefit from the
alternative finance space.”
The Directors of the Issuer accept responsibility for the contents of this
announcement.
For further information please contact:
Robert Boot
GXG Corporate Advisor : Jon Isaacs
Just Cash Flow PLC
1 Charterhouse Mews,
London EC1M 6BB
Alfred Henry Corporate Finance Limited
Telephone
Mail
Web
020 3199 6379
[email protected]
thejust-group.com
Telephone
Web
020 7251 3762
alfredhenry.com
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