The transaction will be important to move the business into the hybrid model which is core to Axactor's strategy and further build on this with other portfolios in 2017. "This portfolio not only increases our geographical profile in portfolio acquisitions, but it also demonstrates our ability to enter markets commonly perceived as closed to new players. Using Axactor's focus on data and analysis, we expect this to be one of many acquisitions over the coming years", says Endre Rangnes, Axactor CEO. "Axactor will now own portfolios in all existing markets, showing strong commitment by the team to achieve this within the first year of trading as a receivable management business", says Robin Knowles, Axactor EVP Portfolio. The acquisition will be financed by Axactor's available cash and our existing credit facilities. For further information, please contact: Endre Rangnes Cell Phone: +47 477 10 451 About AXACTOR- Axactor is addressing a large non-performing loan (NPL) market in Europe. The market is estimated to around EUR 1.5 trillion and with a solid growth rate. The main growth factors are partly driven by regulatory changes, sales of non-performing loans and an accelerating trend of outsourcing debt collection to specialized companies. Furthermore, we see a consolidation trend in the debt collection/debt purchase industry. Axactor's main focus in the credit management value chain will be: amicable and legal collection, surveillance and acquisition of NPLs.
While these types of loans are often affiliated with secured loans such as mortgages and car loans, there are also unsecured term loans. We work with efficiency, honesty and creativity. This process can be difficult for business owners whose assets are not valued highly by a bank or whose assets are difficult to value or sell. For instance, a longer-term loan will typically offer lower interest rates because the lender is able to recoup more interest over the life of the loan. Why a capital unsecured business loan? Not a typo. 185. I was very impressed by the personal treatment too.” With unsecured business loans, it is not required to have the assets to cover the value of the loan. If you have an immediate capital need, your business could have funding as soon as 1 business day!
If you have applied for a business loan and do not have enough business history because you are a start up. An unsecured loan can be due at the end of a set term, in which case the interest rate is fixed. Finding the “right” bank is part of it and do you know where you should have gone for your funding in 2010? How the interest rate is applied depends on the lender, as well as the credit history of the borrower. I’m sure you can guess which of these makes the brokers the most money so that’s what they sell you even if it’s not what’s best for you.