Legion

Legion Trade Finance goes bust

Alternative Lending

Legion Trade Finance – a trade finance provider – has gone into administration.

Legion Trade Finance provided facilities to UK companies in order to allow them to purchase goods from suppliers around the world. These facilities started at £100k in size, with no upper limit. The company appointed Begbies Traynor as administrators on 9 June 2016, according to a Companies House filing. The company’s LinkedIn page suggests that it had 11-50 employees. Legion was not a peer-to-peer lender, in that it was not open to retail investors. 

When SME lending specialist GLI Finance launched its closed end fund – GLI Alternative Finance – in September 2015, Legion represented the second largest exposure within what was initially a £40.27m portfolio. The fund had £5.1m invested through the trade finance provider. That exposure was topped only by the £14.6m that was invested through FundingKnight – which also appointed administrators in

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