7% APS Bond Deadline Extended

APS financial has announced that it will be extending availability to invest in its first mini-bond to 25th November 2016 in order to give investors additional time to earn 7% gross fixed interest a year from its four year fixed-term product. The decision to extend the deadline also gives those who’ve already expressed interest in investing between £1,000 and £250,000 in the APS Bond (offered via APS Bonds PLC) additional time to commit following the half term holiday.

APS has seen interest from investors to date including an individual, initially attracted by the rate and then impressed by the company’s track record, who sent a cheque for £250,000 within days of the bond being issued.

Since it was founded, London based APS financial has helped over 70,000 entrepreneurs and small businesses disenchanted with high street banks.

The company has been profitable for five years during which time its revenues have tripled. Its revenues hit £4.1 million EBITDA profit for the fiscal year ending March 2016.

Responding to a 93% year-on-year growth in demand for capital from SME businesses since October 2015, the money raised by the APS Bond will be used predominantly to develop new innovative credit products to supplement small business’ cash flow, expand existing consumer credit card lending to new markets, and increase overdrafts to existing customers.

The APS Bonds are unlisted and non-transferable, and investors will see their initial lump sum returned at the end of the four-year period when the bonds mature.

CEO Rich Wagner said “Investors who are interested in supporting a new generation of entrepreneurs and challenging the status quo from the traditional banking sector are showing interest in this product. The APS Bond gives investors a great opportunity to participate in the UK’s growing FinTech industry and will give us the ability to roll out more of the things that make financial services secure and accessible to the grassroots of UK plc.”