# Advancis Limited (08089541)

> Why UK company 08089541 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/08089541

- **Status:** Administration ended
- **Administration began:** 2021-09-07
- **Administrators:** Shane Crooks, Kiri Holland, Antony David Nygate
- **Administrators' firm:** BDO
- **Incorporated:** 2012-05-30
- **Location:** Liverpool
- **Industry:** 64929 Other credit granting n.e.c.

## Why it went into administration

- Regulatory change or action
- Funding withdrawn / unable to refinance
- Competition / price pressure

## From the administrators' statement

The Company was incorporated on 30 May 2012 and, since 2013, has provided guarantor loans of up to £10k, over a 12-60 month term. New lending was suspended in March 2021. Historically, the Company has made operational losses.

Guarantor loans are a form of consumer lending targeted at borrowers who may have difficulty accessing some parts of the credit market, often due to their credit history. They can provide such customers with an alternate source of finance, provided that the customer has a guarantor who is willing to step into the shoes of the borrower in the event that the borrower is unable to meet its obligations under the loan.

Since 2017, Shawbrook Bank Limited (‘Shawbrook’) has funded the business with a revolving credit facility of up to £15m. The balance due to Shawbrook as at 7 September 2021 was c£5.1m, and is subject to accruing interest and charges. In addition, BCI Finance Limited (‘BCI’) has provided further funding to the Company. The balance due to BCI as at 7 September 2021 was c£4.1m, and is subject to accruing interest and charges.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/08089541/filing-history/MzMxODkzNTkwNWFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/08089541

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.