Able Contractors Ltd

Construction

Funds Raised

£50,000.00

Final AER

17.09%

Loan term

60 MONTHS

Auction Closed

2015-04-17

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: Able Contractors Ltd Company Number: 08235385
Business Type: Construction Years Trading: 2-3 years
Business Location: HOUNSLOW

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

All Assets Debenture - Fixed and floating charge created over all assets of applicant company

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Established as a construction contractor since 2012, the company has grown steadily and has built a reputation for ensuring quality, timely delivery within the cost framework around the London area. Built on the success of his Fathers’ construction business, Hamza has learned from the family business and is working hard to move the business forward.

From new-builds to refurbishments and maintenance contracts the company offers innovative and pragmatic solutions to all of your construction needs.

Our experienced work-force is responsive, flexible and reliable. Our reputation for a friendly and trustworthy approach to all projects we are awarded and at all stages of the work is just one of the factors that have helped to enhance our reputation and contributed to the on-going success of the company.

By Expanding on that reputation Able is always adding heavy construction projects to our resume. The company is a complete service general contractor specialising in new build, refurbishment, renovation, extension and maintenance works both in commercial and residential sector. We offer traditional general contracting services as well as preconstruction, construction management and design & build services. We perform work on either a negotiated or a competitive bid basis and provide a complete range of services including:

• Preconstruction Services

o Conceptual Budgeting

o Value Engineering

o Scheduling

o Estimating

• Design & Build

• Construction Management

• General Construction

We have been praised for our special attention to detail and our ability to provide knowledge driven and cost saving solutions for the most construction projects. We are recognized for our strength in traditional construction methods and for our creative, fresh approach to cutting edge technologies and delivery systems. We work with the Client and the design team in the early phase of drawings, to provide value engineering and suggestions for constructability, budget and scheduling. Within our Preconstruction services, we act as a value-added member of the design team, enhancing the design segment of the job by providing accurate pricing information and marrying the budget to the actual design. Offering a comprehensive range of construction services enables us to tailor a delivery system which matches our clients' needs, goals and budget. Moreover, we have the ability to self-perform many aspects of our work, giving us greater control over the schedule and allowing us to truly drive the project.

Read more

Loan Offers

What is the loan for?

The Loan is to assist both cash flow and also purchase new small plant equipment to assist with two new long term projects which we are about to start.

In the last year we have spent over £25,000 in plant hire, and buy purchasing 2 x mini diggers we can save circa £24k a year in high costs with the equipment effectively paying for it’s self. We also require to pay up front for materials and labour in order to get the projects underway.

Why consider investing?

We have an excellent credit profile and are a growing business. We have never defaulted on any loans or credit agreements and kept all borrowing to a minimum, until now preferring not to borrow.

Security

The Loan is to be secured by way of Directors Guarantee.and All Assets Debenture

The director has an estimated net worth of £168k. This is from ownership of a property with with an estimate value of £589k and equity of £168k

DateAmountCapitalInterestReceived
20/05/2015£1,245.05£532.97£712.08
20/06/2015£1,245.05£540.56£704.49
20/07/2015£1,245.05£548.26£696.79
20/08/2015£1,245.05£556.06£688.99
20/09/2015£1,245.05£563.98£681.07
20/10/2015£1,245.05£572.01£673.04
20/11/2015£1,245.05£580.16£664.89
20/12/2015£1,245.05£588.42£656.63 (9 days late)
20/01/2016£1,245.05£596.80£648.25
20/02/2016£1,245.05£605.30£639.75
20/03/2016£1,245.05£613.92£631.13
20/04/2016£1,245.05£622.67£622.38
20/05/2016£1,245.05£631.53£613.52
20/06/2016£1,245.05£640.53£604.52
20/07/2016£1,245.05£649.65£595.40
20/08/2016£1,245.05£658.90£586.15
20/09/2016£1,245.05£668.29£576.76
20/10/2016£1,245.05£677.80£567.25
20/11/2016£1,245.05£687.46£557.59
20/12/2016£1,245.05£697.25£547.80 (8 days late)
20/01/2017£1,245.05£707.18£537.87
20/02/2017£1,245.05£717.25£527.80
20/03/2017£1,245.05£727.46£517.59
20/04/2017£1,245.05£737.82£507.23
20/05/2017£1,245.05£748.33£496.72
20/06/2017£1,245.05£758.99£486.06
20/07/2017£1,245.05£769.80£475.25
20/08/2017£1,245.05£780.76£464.29
20/09/2017£1,245.05£791.88£453.17
20/10/2017£1,245.05£803.16£441.89
20/11/2017£1,245.05£814.60£430.45
20/12/2017£1,245.05£826.20£418.85
20/01/2018£1,245.05£837.97£407.08
20/02/2018£1,245.05£849.90£395.15
20/03/2018£1,245.05£862.00£383.05
20/04/2018£1,245.05£874.28£370.77
20/05/2018£1,245.05£886.73£358.32
20/06/2018£1,245.05£899.36£345.69
20/07/2018£1,245.05£912.17£332.88
20/08/2018£1,245.05£925.16£319.89
20/09/2018£1,245.05£938.33£306.72
20/10/2018£1,245.05£951.70£293.35
20/11/2018£1,245.05£965.25£279.80
20/12/2018£1,245.05£979.00£266.05 (25 days late)
20/01/2019£1,245.05£992.94£252.11
20/02/2019£1,245.05£1,007.08£237.97
20/03/2019£1,245.05£1,021.42£223.63
20/04/2019£1,245.05£1,035.97£209.08121 days overdue
20/05/2019£1,245.05£1,050.73£194.3291 days overdue
20/06/2019£1,245.05£1,065.69£179.3660 days overdue
20/07/2019£1,245.05£1,080.87£164.1830 days overdue
20/08/2019£1,245.05£1,096.26£148.79Not Due
20/09/2019£1,245.05£1,111.87£133.18Not Due
20/10/2019£1,245.05£1,127.71£117.34Not Due
20/11/2019£1,245.05£1,143.77£101.28Not Due
20/12/2019£1,245.05£1,160.06£84.99Not Due
20/01/2020£1,245.05£1,176.58£68.47Not Due
20/02/2020£1,245.05£1,193.33£51.72Not Due
20/03/2020£1,245.05£1,210.33£34.72Not Due
20/04/2020£1,245.05£1,227.57£17.48Not Due
Total:£49,999.97£24,703.03