Albamay Limited

Other

Funds Requested

£38,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2015-07-20

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This loan is now passed its deadline, lender funds will soon be released.

About the Business

Company Name: Albamay Limited Company Number: SC220125
Business Type: Other Years Trading: more than 10 years
Business Location: DUNDEE

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from director and majority shareholder

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Albamay Ltd trades as The Troll Inn on Arklay Street, Dundee situated adjacent to Dens Park Stadium, home of the Dundee United Football Club

Albamay currently has five staff members. I manage this on a day to day basis with my five loyal staff who have worked with me for some years.

Albamay has grown from 20k profit initially and last year showed profit of 40k. Over the next five years I plan to grow the business to 50-60k per year. By having the ability to install a functional kitchen we will increase the profits and if we install an updated heating system, this will decrease our outlays.

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Loan Offers

What is the loan for?

The loan will be used for renovations to the public house, i.e. seating, updating decor and surroundings, toilets and new eco heating system.

I'm also looking to introduce food and the funding will also be used to enable me to install a fully functional kitchen.

Why consider investing?

Having started my first business, Arklay Street Mini Market in 1990, I now run five companies.

These companies are,

1. Arklay Street Mini Market . Community Convenience Store in Arklay Street, Dundee, which has been trading for over 20 years

2. Airlie Carriers started in 2000 as a removal business. Airlie carriers was started in 2000 as a removal business and I have local contracts for deliveries and pick-ups.

3. Albamay Ltd. trading as The Troll Inn. Public House, Arklay Street, Dundee.

4. The Rack & Cue Ltd, Snooker Club, started in 2009.

5. Airlie Properties. Property portfolio which started in 1995 and has grown to 18 fully tenanted properties.

I'm actively involved on a daily basis across all the businesses and have a hands on approach. All my businesses are well staffed and family members and reliable staff are also involved in the day to day running.

I have a sensible approach to all business matters and have never considering any form of borrowing without knowing fully that I can meet the specified terms.

I'm involved with the local community group and am known and respected by local council, police and my regular customers. I also assist with local fundraising and charity events on a regular basis.

My businesses have proved profitable over the past challenging few years and continue to grow year on year. I also have a good payment history and my accounts are showing profit year on year.

Security

The loan will be secured by way of Directors guarantee and corporate guarantees from Airlie Carriers Limited and Rack and Cue Limited

The Director has an estimate net worth of £214k, through ownership of a mortgage free property with an est. value of £225k,

DateAmountCapitalInterestReceived
21/08/2015£927.72£415.36£512.36
21/09/2015£927.72£420.96£506.76
21/10/2015£927.72£426.63£501.09
21/11/2015£927.72£432.39£495.33
21/12/2015£927.72£438.22£489.50
21/01/2016£927.72£444.13£483.59
21/02/2016£927.72£450.11£477.61
21/03/2016£927.72£456.18£471.54
21/04/2016£927.72£462.33£465.39
21/05/2016£927.72£468.57£459.15 (6 days late)
21/06/2016£927.72£474.88£452.84
21/07/2016£927.72£481.29£446.43
21/08/2016£927.72£487.78£439.94
21/09/2016£927.72£494.35£433.37
21/10/2016£927.72£501.02£426.70
21/11/2016£927.72£507.78£419.94
21/12/2016£927.72£514.62£413.10
21/01/2017£30,646.96£30,223.72£423.24
21/02/2017£0.00£0.00£0.00
21/03/2017£0.00£0.00£0.00
21/04/2017£0.00£0.00£0.00
21/05/2017£0.00£0.00£0.00
21/06/2017£0.00£0.00£0.00
21/07/2017£0.00£0.00£0.00
21/08/2017£0.00£0.00£0.00
21/09/2017£0.00£0.00£0.00
21/10/2017£0.00£0.00£0.00
21/11/2017£0.00£0.00£0.00
21/12/2017£0.00£0.00£0.00
21/01/2018£0.00£0.00£0.00
21/02/2018£0.00£0.00£0.00
21/03/2018£0.00£0.00£0.00
21/04/2018£0.00£0.00£0.00
21/05/2018£0.00£0.00£0.00
21/06/2018£0.00£0.00£0.00
21/07/2018£0.00£0.00£0.00
21/08/2018£0.00£0.00£0.00
21/09/2018£0.00£0.00£0.00
21/10/2018£0.00£0.00£0.00
21/11/2018£0.00£0.00£0.00
21/12/2018£0.00£0.00£0.00
21/01/2019£0.00£0.00£0.00
21/02/2019£0.00£0.00£0.00
21/03/2019£0.00£0.00£0.00
21/04/2019£0.00£0.00£0.00
21/05/2019£0.00£0.00£0.00
21/06/2019£0.00£0.00£0.00
21/07/2019£0.00£0.00£0.00
21/08/2019£0.00£0.00£0.00
21/09/2019£0.00£0.00£0.00
21/10/2019£0.00£0.00£0.00
21/11/2019£0.00£0.00£0.00
21/12/2019£0.00£0.00£0.00
21/01/2020£0.00£0.00£0.00
21/02/2020£0.00£0.00£0.00
21/03/2020£0.00£0.00£0.00
21/04/2020£0.00£0.00£0.00
21/05/2020£0.00£0.00£0.00
21/06/2020£0.00£0.00£0.00
21/07/2020£0.00£0.00£0.00
Total:£38,100.32£8,317.88