Details:

The funds were originally borrowed in 2018 for the client to invest into an overseas business venture which is now profitable and starting to return capital to the investor. The client has subsequently renewed the loans following some capital reductions.

The client had an existing two-year loan coming to the end of the term. Due to recent updates in respect of schedule 2 to the Proceeds of Crime (Jersey) Law 1999, the lender has decided to retire from the lending market. We were asked to find a lender that is registered with the Jersey Financial Services

Commission to allow the individual additional time to repay the borrowing.

The team at TLC were able to use its contacts in the private lending sphere and arrange a new private loan, with a new lender which was sourced in three weeks from start to finish.