CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Prospect Business Centres turns to ArchOver to support next stage of growth
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Prospect Business Centres turns to ArchOver to support next stage of growth PDF Print E-mail
Friday, 07 July 2017
ArchOver, the peer-to-peer (P2P) business lending platform, has announced that Prospect Business Centres Ltd, the provider of serviced office accommodation, has selected ArchOver to raise additional working capital and replace its existing credit facilities.

Prospect Business Centres has provided specialist high-quality serviced office accommodation since opening its first centre in Leeds in 1980. The profitable business currently has seven centres in prime business locations, with five in London and two in Leeds. With a focus on quality of service and flexibility, Prospect Business Centres has an average occupancy rate of 87% in London and 82% nationwide. Its clients range from regional-based businesses like Health Management and West Yorks Mediation Services occupying one desk space in Leeds, to multinationals including GE Capital, AXA, NHS, Accenture and Keir Construction filling over 120 desks in the City. The company is now planning to open a further three sites in London over the next 18 months to meet the demand for serviced office space and support future growth.

“Just a few years ago, alternative finance providers weren’t as available in the mainstream. Without the likes of ArchOver, the best options available came with high interest rates and requirements for personal guarantees,” explained Charlie Cudworth, managing director at Prospect Business Centres. “When we started to consider the next stage of financing to help us achieve our projected growth figures, we were introduced to ArchOver by CreditSquare. It was their commitment to working closely with our business to understand our requirements coupled with its ability to package a series of loans together made it an ideal choice.”

Using its Secured & Assigned service, ArchOver has already raised £692,000 and is currently funding an additional £400,000 as part of a series of loans that will allow it to facilitate £3.1 million over the next 6 months. Against future contracted revenues of £12.3 million, the new loans will repay existing borrowing, reduce the cost of funding and give Prospect Business Centres the certainty that it needs to continue expanding and open new sites.

“We aim to help British businesses and have worked hard to raise awareness about alternatives to traditional lending which also maximise returns for investors,” concluded Angus Dent, CEO at ArchOver. “Originally founded in Leeds in 1980, Prospect Business Centres has continued to expand as demand for serviced office space has grown. Prospect Business Centres is an excellent example of how we are supporting the growth of companies that have long been ahead of their time by making access to funding as easy and simple as possible.
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197