Ann: Trading Halt, page-94

Well as @Thanky points out:

"FC Capital chief executive Brad Prout confirmed that FC Capital held a "General Security Agreement which secures the performance obligations of BIG Un under the sponsorship agreement."

He said it did not secure the payment obligation of Big's customers and had who have received video content and agreed to pay by instalments.

"That SME customer payment/credit risk is then ours – which is our core business."
Mr Prout said it was for Big Review TV "to decide if the existence of the GSA ought to be disclosed."

So the shares were not to cover unpaid loans. Also the company has stated many times that the shares were purchased.