Evolutis Lending

paddytt

Hi


We are considering lending through Evolutis Lending Ltd - can anyone give any feedback on their experience and comment on the company?


I have checked them on Experian buy as the company was only formed on 17th July 2012, there's nothing to go on.


thanks


TT

ChesterDog

Doesn't seem very enticing to me.

Mentions a Buyback Guarantee without (as far as I can see at a brief perusal) a scrap of information about how that works.

Why should professionals be at lesser risk of default? If they are such a good risk, why the need to stream them by risk?

ChesterDog

There are examples of poor layout and punctuation on their website.

While perhaps not relevant, this is not a good sign. Can they not afford to do a decent job of their shopfront?

Archi_Bald

Wouldn't touch them with a barge pole.

For example, they say:

Evolutis Lending is part of a financial services group, founded by Ravi Takhar, Craig Beevers and Chris Meyer, which has been lending to the professions market for over 20 years.

No explanation whatsoever what the financial service group is.

Their registered address has apparently 21 companies registered in total, and 66 people. But when you look at it in Google maps, it looks more like a residential area.

There is also no list of the Executives in this company. No photos of them either.

Have you checked their FCA registration? I couldn't find one. All their site says is that they are "Regulated by the Office of Fair Trading, Licence Number 652422/1".

ChesterDog

It says somewhere that the group is Orchard something or other.

For me, I also wouldn't touch it with a barge pole unless the promised returns were fantastic. In which case, well, obviously... I wouldn't touch it with a barge pole.

:-)

Archi_Bald

Strangely, neither Evolutis nor licence number 652422/1 are found on the OFT Register.

http://www2.crw.gov.uk/pr/default.aspx

Nice_Weather_For_Ducks

Pay their "advance fees" at your peril!!!

Marazan

Also they were astro-turfing the general p2p thread a couple of days ago with some the the weakest examples of sock puppet accounts I have ever seen.

They have absolutely no explanation of why on earth their chosen demographic would get an expensive loan through them rather than a cheap loan through the general market.

jimjames

What is their alleged business plan?

Get people to lend money to them and they then lend it out again? Like the posts above I'd question why anyone would want to borrow from them not a bank when the type of person they seem to target would be one that has no issue with mainstream lending.

Or are they going after the Wonga market instead? Any guarantee is only worth what the other party can repay. Someone could guarantee to pay you a million pounds but if they are bankrupt you have no chance of getting it.

Why would any legitimate business with a very short track record that is part of a much bigger group not actually want to publicise that link to demonstrate their long term history?

paddytt

Archi_Bald wrote: »

Strangely, neither Evolutis nor licence number 652422/1 are found on the OFT Register.

http://www2.crw.gov.uk/pr/default.aspx

They are listed under the Group name Orchard (see earlier post) and the licence number 652422 (without the /1) also links to Orchard.

snip from OFT website:


Business Name:
Orchard P2P Lending Ltd


Company Registration Number
08146971

regards


TT

paddytt

Any feedback from anyone who has invested with Evolutis Lending?


regards


TT