Impact Assist Ltd

Automotive

Funds Requested

£27,500.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2014-05-16

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

About the Business

Company Name: Impact Assist Ltd Company Number: 03781485
Business Type: Automotive Years Trading: 2-3 years
Business Location: CRAMLINGTON

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

Cross Corporate Guarantee - CCG from Parent Company Ex Factors Limited

Est. Equity: 0.00

Personal Guarantee - PG from director and majority shareholder

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

We are market leaders in non-fault accident management. We offer a total claims management solution including personal injury claims, accident repair and replacement car hire. We are fully regulated by the financial conduct authority & operate a top quality, efficient service to both brokers & direct customers to get you back on the road quickly, ensure the customer receives proper compensation & be part of a value added service offered by our network of brokers. Our one-stop shop & efficient systems do not exploit the claims system, merely delivering what you are entitled to receive quickly and efficiently.

Read more

Loan Offers

What is the loan for?

The company created a telemarketing department last year which now requires an expansion in equipment and staff numbers. An additional 20 personal injury claims were picked up in the first month of operation,(November), and we make £3250 profit per claim.

To maintain and improve the efficiency of our systems we require an upgrade to our technology and IT to incorporate new hardware and the Pro Claims Management System. This system will provide the technological platform on which to build our future expansion. We have the opportunity of working with a UK Plc on a national contract to bring in an additional 20 repairs/hires per month which will require additional manpower and an upgrade in numbers and quality to our hire fleet. Although our debtors are primarily blue chip insurance companies, the nature of insurance work often means we wait 100 days for payment. Whilst expanding this gives us a significant working capital hurdle and the funds we are seeking would allow us to overcome that hurdle without resorting to expensive factoring companies.

Why consider investing?

We have been in business since 1999 growing with the support of brokers, customers & solicitors from a small claims office in Amble, Northumberland to our current significant site in Cramlington, offering what we believe is a truly unique package in the motor industry. Our motto of "One call and we do it all" is in essence whats customers experience & our long history of satisfied customers is testament to the success of our philosophy and business.

Impact Assist has continued to grow whilst delivering strong financials, and our plans are to continue our expansion building on the strong presence we already have in the North East whilst taking advantage of national contracts available to us along with public and broker demand.

Security

This loan is to be secured by a Director's Personal Guarantee and a Cross Corporate Guarantee by the Parent Company Ex Factors Limited.

The Director has an estimate net worth of £128k based on 1 third equity in a is tenanted property on a rolling 12 month lease with est. value of £289k, currently £110k remaining on the mortgage. No Charge will be placed on the property

DateAmountCapitalInterestReceived
19/06/2014£675.19£298.44£376.75
19/07/2014£675.19£302.53£372.66
19/08/2014£675.19£306.68£368.51 (7 days late)
19/09/2014£675.19£310.88£364.31
19/10/2014£675.19£315.14£360.05
19/11/2014£675.19£319.45£355.74
19/12/2014£675.19£323.83£351.36
19/01/2015£675.19£328.27£346.92
19/02/2015£675.19£332.76£342.43
19/03/2015£675.19£337.32£337.87
19/04/2015£675.19£341.94£333.25
19/05/2015£675.19£346.63£328.56
19/06/2015£675.19£351.38£323.81
19/07/2015£675.19£356.19£319.00
19/08/2015£675.19£361.07£314.12
19/09/2015£675.19£366.02£309.17
19/10/2015£675.19£371.03£304.16
19/11/2015£675.19£376.12£299.07
19/12/2015£675.19£381.27£293.92
19/01/2016£675.19£386.49£288.70
19/02/2016£675.19£391.79£283.40
19/03/2016£675.19£397.15£278.04
19/04/2016£675.19£402.60£272.59
19/05/2016£675.19£408.11£267.08
19/06/2016£675.19£413.70£261.49
19/07/2016£675.19£419.37£255.82
19/08/2016£675.19£425.12£250.07
19/09/2016£675.19£430.94£244.25
19/10/2016£675.19£436.84£238.35
19/11/2016£675.19£442.83£232.36
19/12/2016£675.19£448.89£226.30
19/01/2017£675.19£455.04£220.15
19/02/2017£675.19£461.28£213.91
19/03/2017£675.19£467.60£207.59
19/04/2017£675.19£474.00£201.19
19/05/2017£675.19£480.50£194.69
19/06/2017£675.19£487.08£188.11
19/07/2017£675.19£493.75£181.44
19/08/2017£675.19£500.52£174.67
19/09/2017£675.19£507.38£167.81
19/10/2017£675.19£514.33£160.86
19/11/2017£675.19£521.37£153.82
19/12/2017£675.19£528.52£146.67
19/01/2018£675.19£535.76£139.43
19/02/2018£675.19£543.10£132.09
19/03/2018£675.19£550.54£124.65
19/04/2018£675.19£558.08£117.11
19/05/2018£675.19£565.72£109.47
19/06/2018£675.19£573.47£101.72
19/07/2018£675.19£581.33£93.86
19/08/2018£675.19£589.30£85.89
19/09/2018£675.19£597.37£77.82
19/10/2018£675.19£605.55£69.64
19/11/2018£675.19£613.85£61.34
19/12/2018£675.19£622.26£52.93
19/01/2019£675.19£630.78£44.41
19/02/2019£675.19£639.43£35.76
19/03/2019£675.19£648.19£27.00
19/04/2019£675.19£657.07£18.12
19/05/2019£675.19£666.07£9.12
Total:£27,500.02£13,011.38