FURNITURE INSTALLATION SERVICES LTD

Building Services

Funds Requested

£60,000.00

Offered so far

£0.00

Loan term

36 MONTHS

Auction Closed

2013-11-26

Thank you for stopping by...
This loan is now passed its deadline, lender funds will soon be released.

About the Business

Company Name: FURNITURE INSTALLATION SERVICES LTD Company Number: 06761734
Business Type: Building Services Years Trading: 4-5 years
Business Location: HANWELL

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

Personal Guarantee - PG from director and majority shareholder

Est. Equity: 0.00

2nd Charge on Residential Property - Second priority legal charge over personally-owned residential property

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

The company was incorporated and commenced trading on 01/12/2008. It provides office furniture installation services to both SME’s and larger corporate clients. The business has grown steadily throughout the recession and expects to benefit from general improvement in the wider UK economy.

Read more

Loan Offers

What is the loan for?

The company has grown rapidly to an annual turnover of £900k. It’s direct cost are primarily labour so the business does not benefit from significant trade credit as a source of finance. It provides services on 30 day terms and currently has trade debtors of circa £100k. The company will use the loan to finance its working capital while it builds up retained earnings as permanent source of capital over the next three years.

Why consider investing?

The company has regularly used hire purchase/lease finance facilities to acquire its stock of Vans and has secured a small loan of £15k and overdraft facility from its bankers, establishing a good credit record over the past five years of operation. The level of bank finance made available to the company is insufficient for its working capital needs. As a developing business with strong prospects for further growth, periodic financing is an essential element to long term success. The borrower has offered a Personal Guarantee backed by a second charge on a personal property as security.

DateAmountCapitalInterestReceived
26/12/2013£2,133.49£1,292.99£840.50
26/01/2014£2,133.49£1,311.11£822.38
26/02/2014£2,133.49£1,329.47£804.02
26/03/2014£2,133.49£1,348.10£785.39
26/04/2014£2,133.49£1,366.98£766.51 (6 days late)
26/05/2014£2,133.49£1,386.13£747.36
26/06/2014£2,133.49£1,405.55£727.94
26/07/2014£2,133.49£1,425.24£708.25
26/08/2014£2,133.49£1,445.20£688.29
26/09/2014£2,133.49£1,465.45£668.04
26/10/2014£2,133.49£1,485.98£647.51
26/11/2014£2,133.49£1,506.79£626.70
26/12/2014£2,133.49£1,527.90£605.59
26/01/2015£2,133.49£1,549.30£584.19
26/02/2015£2,133.49£1,571.01£562.48
26/03/2015£2,133.49£1,593.01£540.48
26/04/2015£2,133.49£1,615.33£518.16
26/05/2015£2,133.49£1,637.96£495.53
26/06/2015£2,133.49£1,660.90£472.59
26/07/2015£2,133.49£1,684.17£449.32
26/08/2015£2,133.49£1,707.76£425.73
26/09/2015£2,133.49£1,731.68£401.81
26/10/2015£2,133.49£1,755.94£377.55
26/11/2015£2,133.49£1,780.54£352.95
26/12/2015£2,133.49£1,805.48£328.01
26/01/2016£2,133.49£1,830.77£302.72
26/02/2016£2,133.49£1,856.42£277.07
26/03/2016£2,133.49£1,882.43£251.06
26/04/2016£2,133.49£1,908.80£224.69
26/05/2016£2,133.49£1,935.53£197.96
26/06/2016£2,133.49£1,962.65£170.84
26/07/2016£2,133.49£1,990.14£143.35
26/08/2016£2,133.49£2,018.02£115.47
26/09/2016£2,133.49£2,046.29£87.20
26/10/2016£2,133.49£2,074.95£58.54
26/11/2016£2,133.49£2,104.02£29.47
Total:£59,999.99£16,805.65