1st Call Care Ltd

Other

Funds Requested

£150,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2014-02-16

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

About the Business

Company Name: 1st Call Care Ltd Company Number: 07073563
Business Type: Other Years Trading: 4-5 years
Business Location: BASFORD

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

Fixed Charge Debenture - Fixed charge over the asset(s) of applicant company

Est. Equity: 0.00

Personal Guarantee - PG from Christian Miles

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

1st Call Care provides specialist care services to children and adults with learning disabilities, mental health disorder, autism and others. We now have some key relationships within clinical teams in the north and the Midlands to branch out into specialist residential services. www.letuscare.co.uk

Read more

Loan Offers

What is the loan for?

After a successful first round of funding through the support of rebuildingsociety lenders, the funds were used as a deposit to secure the purchase of a property. During the process of purchasing the property after our initial round of funding, we encountered some difficulties.The initial mortgage fell through as our mortgage provider, after own valuation, decided that the property was actually a 6 bedroom property and their product only provided mortgages for 5 properties or less. This resulted in a delay in our early repayments to our lenders, as the funds could not be released to our solicitor until all legal formalities were in place. Ultimately, this meant that the rest of the property funding was made through a combination of company investment, director investment and also a small bridging loan. Having now purchased the property we require a second injection of funds to operationalise this service at the property and further develop the services and care we provide. The property will provide a much needed children's residential service in the Bury and Greater Manchester and surrounding areas. This is a re-integration service for young females with borderline personality disorder and will enable young people to spend more quality time in the community with a view to independent living at adulthood. In addition some of the loan will also be used to release the bridging loan thus allowing lenders to take the place as 1st charge over the property in support of this loan.

Why consider investing?

This investment would be backed by a 1st charge over the property which was valued at 145,000 by a local Chartered Surveyor prior to refurbishment (185,000 after refurb) in addition to a director's Guarantee. The new service being set up will be run by very well experienced clinicians consisting of three RMN's and a well qualified support staff. The new service will always be directly supported by the management team already in place within 1st Call Care Ltd On our last listing we were offered the loan at a rate of 10.84% we would like lenders to consider , given the security and our existing relationship with rebuildingsociety.com lenders, to please consider lending at a similar rate. ** The previous loan with rebuildingsociety.com will be refinanced and repaid to past lenders on completion of this loan.**

DateAmountCapitalInterestReceived
24/03/2014£3,544.13£1,707.88£1,836.25
24/04/2014£3,544.13£1,728.78£1,815.35 (5 days late)
24/05/2014£3,544.13£1,749.95£1,794.18
24/06/2014£3,544.13£1,771.37£1,772.76 (6 days late)
24/07/2014£3,544.13£1,793.05£1,751.08 (15 days late)
24/08/2014£3,544.13£1,815.00£1,729.13 (44 days late)
24/09/2014£3,544.13£1,837.22£1,706.91 (37 days late)
24/10/2014£3,544.13£1,859.71£1,684.42 (7 days late)
24/11/2014£1,882.48£1,882.48£0.00
24/12/2014£1,905.52£1,905.52£0.00
24/01/2015£1,928.85£1,928.85£0.00
24/02/2015£1,952.46£1,952.46£0.00
24/03/2015£1,976.37£1,976.37£0.00
24/04/2015£2,000.56£2,000.56£0.00
24/05/2015£2,025.05£2,025.05£0.00
24/06/2015£2,049.84£2,049.84£0.00
24/07/2015£2,074.93£2,074.93£0.00
24/08/2015£2,100.33£2,100.33£0.00
24/09/2015£2,126.05£2,126.05£0.00
24/10/2015£2,152.07£2,152.07£0.00
24/11/2015£2,178.42£2,178.42£0.00
24/12/2015£2,205.08£2,205.08£0.00
24/01/2016£2,232.08£2,232.08£0.00
24/02/2016£2,259.40£2,259.40£0.00
24/03/2016£2,287.06£2,287.06£0.00
24/04/2016£2,315.06£2,315.06£0.00
24/05/2016£2,343.40£2,343.40£0.00
24/06/2016£2,372.09£2,372.09£0.00
24/07/2016£2,401.12£2,401.12£0.00
24/08/2016£2,430.52£2,430.52£0.00
24/09/2016£2,460.27£2,460.27£0.00
24/10/2016£2,490.39£2,490.39£0.00
24/11/2016£2,520.88£2,520.88£0.00
24/12/2016£2,551.74£2,551.74£0.00
24/01/2017£2,582.97£2,582.97£0.00
24/02/2017£2,614.59£2,614.59£0.00
24/03/2017£2,646.60£2,646.60£0.00
24/04/2017£2,679.00£2,679.00£0.00
24/05/2017£2,711.79£2,711.79£0.00
24/06/2017£2,744.99£2,744.99£0.00
24/07/2017£2,778.59£2,778.59£0.00
24/08/2017£2,812.61£2,812.61£0.00
24/09/2017£2,847.04£2,847.04£0.00
24/10/2017£2,881.89£2,881.89£0.00
24/11/2017£2,917.17£2,917.17£0.00
24/12/2017£2,952.88£2,952.88£0.00
24/01/2018£2,989.03£2,989.03£0.00
24/02/2018£3,025.62£3,025.62£0.00
24/03/2018£3,062.66£3,062.66£0.00
24/04/2018£3,100.15£3,100.15£0.00
24/05/2018£3,138.10£3,138.10£0.00
24/06/2018£3,176.52£3,176.52£0.00
24/07/2018£3,215.40£3,215.40£0.00
24/08/2018£3,254.77£3,254.77£0.00
24/09/2018£3,294.61£3,294.61£0.00
24/10/2018£3,334.94£3,334.94£0.00
24/11/2018£3,375.77£3,375.77£0.00
24/12/2018£3,417.09£3,417.09£0.00
24/01/2019£3,458.92£3,458.92£0.00
24/02/2019£3,501.27£3,501.27£0.00
Total:£149,999.98£14,090.08