ADVATEK LIMITED

Funds Raised

£13,480.00

Final AER

46.62%

Loan term

13 MONTHS

Auction Closed

N/A

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: ADVATEK LIMITED Company Number: 07465013
Business Type: Years Trading: 2-3 years
Business Location: WREXHAM INDUSTRIAL ESTATE

About the Risk

Risk rating

D

Default rate

0.00%

Bad debt rate

0.00%

About the Security

Security Offered:

Risk Indicators Identified:

Important Files

Who are we?

LENDERS SHOULD BE AWARE THAT MICRO LOANS PURCHASED ON THIS LOAN WILL NOT GENERATE INTEREST.

PLEASE NOTE THAT THIS BUSINESS FAILED TO ADHERE TO THEIR ORIGINAL REPAYMENT SCHEDULE. THE LOAN HAS BEEN REFACTORED AND IS NOW REPAYING ACCORDING TO A NEW SCHEDULE. YOU SHOULD READ THE LOAN UPDATES ON THIS LOAN BEFORE BUYING ANY MICRO LOANS IN THIS BUSINESS

Advatek provide secure, integrated ICT solutions and managed services for larger SME’s, Enterprise’s and Public Sector organisations in the North Wales, North West and Midlands regions. We operate from modern & spacious offices based on Wrexham Industrial Estate. We currently have 5 full time employees and 2 part time employees. Annual turnover for financial year up to 31st December 2013 was £488k, with a gross profit of £262k and a net operating profit of £45k. We currently have an opportunity pipeline in excess of £4M, some of these opportunities are in the latter stages of development and are valued above £100K. This plan will facilitate the immediate recruitment of another full time employee, with a second planned later in the year.

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Loan Offers

What is the loan for?

The way that companies and public sector organisations consume IT is changing. The traditional model of supplying hardware, software, installation services and support for on premise solutions is becoming less relevant in today’s market. This is being surpassed by a growing trend to buy IT as a service. This revolution is being driven by the phenomenon of cloud computing and Advatek is poised to take advantage of this to drive value for our clients and create wealth within the local economy. We plan to build a cloud computing infrastructure to be able to deliver a suite of new services to our growing client base. This will involve the design and build of a fully virtualised, multitenant cloud computing infrastructure within a datacentre. This will consist of a resilient high performance computing platform, a high capacity storage infrastructure, virtualised security services, plus a number of other new applications and services. We will also build a resilient network that will enable us to deliver our services over the Internet and within private networks for clients throughout the UK.

Why consider investing?

This is an exciting opportunity to become involved with a rapidly growing business in the technology sector. We only deal with proven IT brands, such as Cisco, Microsoft, VMWare etc and are a safe pair of hands. We know that several other companies are making great profits from selling cloud based services. This project will be transformational for Advatek in terms of developing a suite of new services that we will be able to offer to the market. We are already on the cusp of winning a significant order for some of these services and importantly, we will be able to charge for services on a pay as you grow annuity based model, providing us with incremental streams of steady income hence bringing further stability to the business moving forward. ** The Directors guarantee is supported primarily by two properties with an estimated total equity holding of £202k **

DateAmountCapitalInterestReceived
28/03/2019£1,340.37£816.62£523.75
28/04/2019£1,340.37£848.35£492.02
28/05/2019£1,340.37£881.31£459.06
28/06/2019£1,340.37£915.55£424.82
28/07/2019£1,340.37£951.12£389.25
28/08/2019£1,340.37£988.08£352.29Not Due
28/09/2019£1,340.37£1,026.47£313.90Not Due
28/10/2019£1,340.37£1,066.35£274.02Not Due
28/11/2019£1,340.37£1,107.78£232.59Not Due
28/12/2019£1,340.37£1,150.82£189.55Not Due
28/01/2020£1,340.37£1,195.53£144.84Not Due
28/02/2020£1,340.37£1,241.99£98.39Not Due
28/03/2020£1,340.37£1,290.24£50.13Not Due
Total:£13,480.21£3,944.61