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On 15 April 2021, the Directors of Business Loan Network Limited, a regulated Peer-to Peer (P2P) firm, received court approval to place the firm into administration and appoint Geoffrey Bouchier and Robert Armstrong of Kroll (a trading name of Duff & Phelps Ltd) as Joint Administrators.
Business Loan Network Limited operates a P2P lending platform through a website facilitating crowdfunded loans which are used to fund business loans secured against assets such as property. Business Loan Network’s retail Peer to Peer activities have been in wind down since 9 December 2019. Customers of Business Loan Network (BLN) may also know the firm by its former trading name, ThinCats. ThinCats is now a trading name of ESF Capital Limited. ESF is BLN’s parent company and owner of the ThinCats brand. ESF’s customers are institutional investors only. It does not have retail clients and is not regulated by the FCA.
Source: FCA
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Business Loan Network Limited enters administration
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#1Madspet commentedEditing a commentHave a good day, Sir! This is amazing news. Thank you for keeping us informed about it! The one question, if the related company offers the business line of credit or some COVID-19 recovery credit line for small businesses? I want to start my small business and look for a solid company with a good credit line proposition. My credit ratio is pretty good. I have been searching for propositions on this forum because I don't like my bank services anymore. They seem to be too greedy, in my opinion.
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#2HenyOrgnet commentedEditing a commentThank you for telling me about it. Do you have anything else interesting about business loans?
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#3Germanad commentedEditing a commentJoint administration of a business is not a good idea. It seems to me that this is a direct path to competition. Moreover, such rivalry can destroy the business.
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