Wacnet Limited

Business Services

Funds Requested

£25,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2014-04-04

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

About the Business

Company Name: Wacnet Limited Company Number: 03684014
Business Type: Business Services Years Trading: more than 10 years
Business Location: HENLEY ON THAMES

About the Risk

Risk rating

A

Default rate

7.00%

Bad debt rate

9.69%

About the Security

Security Offered:

1st Charge Residential Property

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

We work with the retail and toy industry who import from the Far East. We operate as their Logistics Partner and provide them with a service when importing from Asia via our office in HK. We have built on trust from our existing customer in the UK by introducing logistic solution and ground breaking technology and services so that their product makes it to market more efficiently using the most cost effective routes. Over the years we have increased our services from CD Express, Courier and air Freight to Fulfilment and now Container Shipping and now look to build on that even more. Customers Like Disney, Mamas and Papas, Manchester United FC, Robert Dyas and Hasbro have all benefited from their association with us over the years.

Read more

Loan Offers

What is the loan for?

We are now investing in a new service called Concierge which not only will aid our International Buyer to travel lighter but also offer them a leisure twist on our corporate services. Our Concierge service will pick up anything from Exhibition Equipment to heavy boxes full of paper and Brochures from their Hotel room overseas and delivery it back to their office at a fraction of the cost demanded for Excess Baggage buy the airlines. The leisure side is for Corporate and Consumer alike, we simply pick up their Skis, golf clubs or luggage from their home or office and delivery it straight o their hotel or holiday resort, and then pick it up and return back when the trip is over. The Web development is the key to the success of this and the marketing which is what the investment is for.

Why consider investing?

We used to use our Bank as a funding facility to build our brand and service in new technologies. In 2007 we had a £200K SFLG from NatWest backed up with a £200k OD facility. With the recession the Bank forced us into limiting their liability with us and started to lower our OD while still paying back the SFLG. During the recession in Dec 2012 we cleared all our debt with the bank only to be told that they would not offer us a further facility to grow our business. We are a good company and did extremely well during the recession and will now build on that success with our new and existing customers. There is no reason for us to turn now.

The Loan is backed by 2 x Director Guarantees's , primarily supported by a property with an estimate value of £1.6m with £750k equity. the loan will also be guaranteed by a second business co-owned by the Directors, Jenova Ltd.

DateAmountCapitalInterestReceived
05/05/2014£572.03£295.99£276.04
05/06/2014£572.03£299.26£272.77
05/07/2014£572.03£302.56£269.47
05/08/2014£572.03£305.90£266.13
05/09/2014£572.03£309.28£262.75
05/10/2014£572.03£312.70£259.33
05/11/2014£572.03£316.15£255.88
05/12/2014£572.03£319.64£252.39
05/01/2015£572.03£323.17£248.86
05/02/2015£572.03£326.74£245.29
05/03/2015£572.03£330.34£241.69
05/04/2015£572.03£333.99£238.04
05/05/2015£572.03£337.68£234.35
05/06/2015£572.03£341.41£230.62
05/07/2015£572.03£345.18£226.85
05/08/2015£572.03£348.99£223.04
05/09/2015£572.03£352.84£219.19
05/10/2015£572.03£356.74£215.29
05/11/2015£572.03£360.68£211.35
05/12/2015£572.03£364.66£207.37
05/01/2016£572.03£368.69£203.34
05/02/2016£572.03£372.76£199.27
05/03/2016£572.03£376.87£195.16
05/04/2016£572.03£381.04£191.00
05/05/2016£572.03£385.24£186.79
05/06/2016£572.03£389.50£182.53
05/07/2016£572.03£393.80£178.23
05/08/2016£572.03£398.14£173.89
05/09/2016£572.03£402.54£169.49
05/10/2016£572.03£406.99£165.04
05/11/2016£572.03£411.48£160.55
05/12/2016£572.03£416.02£156.01
05/01/2017£572.03£420.62£151.41
05/02/2017£572.03£425.26£146.77
05/03/2017£572.03£429.96£142.07
05/04/2017£572.03£434.70£137.33
05/05/2017£572.03£439.50£132.53
05/06/2017£572.03£444.36£127.67
05/07/2017£572.03£449.26£122.77
05/08/2017£572.03£454.22£117.81
05/09/2017£572.03£459.24£112.79
05/10/2017£9,869.47£9,761.55£107.92
05/11/2017£0.00£0.00£0.00
05/12/2017£0.00£0.00£0.00
05/01/2018£0.00£0.00£0.00
05/02/2018£0.00£0.00£0.00
05/03/2018£0.00£0.00£0.00
05/04/2018£0.00£0.00£0.00
05/05/2018£0.00£0.00£0.00
05/06/2018£0.00£0.00£0.00
05/07/2018£0.00£0.00£0.00
05/08/2018£0.00£0.00£0.00
05/09/2018£0.00£0.00£0.00
05/10/2018£0.00£0.00£0.00
05/11/2018£0.00£0.00£0.00
05/12/2018£0.00£0.00£0.00
05/01/2019£0.00£0.00£0.00
05/02/2019£0.00£0.00£0.00
05/03/2019£0.00£0.00£0.00
05/04/2019£0.00£0.00£0.00
Total:£25,005.64£8,317.07