GRA PROJECT MANAGEMENT LTD

Construction

Funds Requested

£315,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2014-07-07

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

About the Business

Company Name: GRA PROJECT MANAGEMENT LTD Company Number: 07719227
Business Type: Construction Years Trading: 2-3 years
Business Location: NORFOLK

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

All Assets Debenture - Fixed and floating charge created over all assets of applicant company

Est. Equity: 0.00

Personal Guarantee - PG from Mr Gavin Armstrong

Est. Equity: 0.00

2nd Charge on Property - 2nd priority legal charge over domestic residence owned by the guarantor

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

New 'Transfer Bids' available for use on this loan! If you already hold a Microloan for GRA's previous loan, you can transfer your capital on that loan across to this new loan request. Visit Your Dashboard to see if you currently hold a micro loan .

We are a Construction Project Management Company from Norfolk who specialise in major road works drainage installations for large national companies like, Balfour Beatty, Anglian Water, Birse Civils to name a few.

We are also an approved contractor to Tesco, and carry out all the ground works to the new superstores. We have a workforce of around 12-15 employees, and employ quality sub-contractors from time to time, all of whom are experts in their own field. We offer the main contractors, quality, performance and most of all, work with an unrivalled health & safety record that is paramount when working in today's construction industry.

In the last few years with the generous help of Rebs lenders, we have now been able to put GRA Project Management Ltd securely on the map with the big players in this industry. This is reflected in us having recently won a new contract, of Circa £1m for Balfour Beatty, for whom we are completing the prestigious A11 project in Norfolk, to build a new interchange in Norwich. Read about it Here

This project will lead to another £100m project that Balfour Beatty have already been awarded to build a new bypass around the north of Norwich. With my past history with Balfour Beatty and the current workload they have, GRA has a very positive future ahead.

We hope that with the help of Rebs lenders we can continue to build on our success through 2014 and into 2015 only getting stronger and stronger. We are also looking to run a Major Civil Engineering arm side by side the Project Management company, who could take on projects £2m-£5m in size.

Read more

Loan Offers

What is the loan for?

This loan is to purchase a small fleet of machinery, to include excavators, dumpers and compaction equipment.We have continually been growing as a business and have to increase our capacity on a regular basis and in this year alone we have spent £166,565.22 to end of April 2014, on growth and equipment hire.

We now consider the purchase of our own equipment essential in today's competitive market and will increase, what is already a very good profit margin. Part of the new loan will pay off an existing loan currently running with Rebs since last September, and allow us to expand and be more competitive as hiring can be very expensive in today's market.

For example the cost to hire he machinery that I wish to purchase is some £2900 per month cheaper between loan repayment amount and hire charges. Eliminating this cost will allow us to use the surplus funds to invest in other parts of the business.

Why consider investing?

We are a frequent user of RBS and have enjoyed and been grateful of the support of Rebs lenders over the past 12 months. Should we be successful with this round of finance, this will be our third loan through Rebs. Our existing loan with rebs will be paid off with a portion of the funds raised from this loan

Our repayments have always been made on time ( apart from an initial error with the set up of the standing order). Over the past 12 months I have come to learn a lot about peer to business lending and the dynamics involved. I have always responded to questions posed by lenders after the initial auction period, and will endeavour to maintain this relationship going forward.

Each time we have borrowed, we have been a a good investment as we have settled early and taken new loans to grow the business, and given our kind investors good returns. This is exactly what we would like to do again with your help.....take a new loan, grow the business and be in a position to repay our investors early, giving them good returns.

Risk Rating

Many lenders will notice that on previous applications, GRA had been rated as a 'B' rated business, and on this application is rated a 'C'. This is due only to the relative loan affordability of this larger loan and the size of the business. The loan has been assessed as if it were a new application, and has undergone the same scrutiny as all applications.

Notes On Accounts

Dividend figures for the past 3 years 2012 £120k, 2013 £207k and 2014 £213k.

Director to restrict dividends to £150k for the duration of the loan

Security

This loan is to be secured against a Personal Guarantee from the Director, a second priority legal charge over the director's property, as well as an All Assets Debenture over the business.

The director has an estimate net worth of £570k, primarily from equity in a personal property with an estimate value of £1.6m and £700k equity.

A second priority charge is also offered over Gavin's domestic residence, a property with an estimated value of £1.6m and an estimated £700k equity.

DateAmountCapitalInterestReceived
08/08/2014£7,759.29£3,404.41£4,354.88
08/09/2014£7,759.29£3,451.48£4,307.81
08/10/2014£7,759.29£3,499.19£4,260.09
08/11/2014£7,759.29£3,547.57£4,211.72
08/12/2014£7,759.29£3,596.61£4,162.67
08/01/2015£7,759.29£3,646.34£4,112.95
08/02/2015£7,759.29£3,696.75£4,062.54
08/03/2015£7,759.29£3,747.86£4,011.43
08/04/2015£7,759.29£3,799.67£3,959.62
08/05/2015£7,759.29£3,852.20£3,907.08
08/06/2015£7,759.29£3,905.46£3,853.83
08/07/2015£7,759.29£3,959.45£3,799.84
08/08/2015£7,759.29£4,014.19£3,745.10
08/09/2015£7,759.29£4,069.69£3,689.60
08/10/2015£7,759.29£4,125.95£3,633.34
08/11/2015£7,759.29£4,182.99£3,576.29
08/12/2015£7,759.29£4,240.82£3,518.47
08/01/2016£7,759.29£4,299.45£3,459.84
08/02/2016£7,759.29£4,358.89£3,400.40
08/03/2016£7,759.29£4,419.15£3,340.13
08/04/2016£7,759.29£4,480.25£3,279.04
08/05/2016£7,759.29£4,542.19£3,217.10
08/06/2016£7,759.29£4,604.98£3,154.30
08/07/2016£7,759.29£4,668.65£3,090.64
08/08/2016£7,759.29£4,733.19£3,026.10
08/09/2016£7,759.29£4,798.63£2,960.66
08/10/2016£7,759.29£4,864.97£2,894.32
08/11/2016£7,759.29£4,932.23£2,827.06
08/12/2016£7,759.29£5,000.41£2,758.87
08/01/2017£7,759.29£5,069.54£2,689.74
08/02/2017£7,759.29£5,139.63£2,619.66
08/03/2017£7,759.29£5,210.69£2,548.60
08/04/2017£7,759.29£5,282.72£2,476.56
08/05/2017£7,759.29£5,355.76£2,403.53
08/06/2017£7,759.29£5,429.80£2,329.49
08/07/2017£7,759.29£5,504.87£2,254.42
08/08/2017£7,759.29£5,580.97£2,178.31
08/09/2017£7,759.29£5,658.13£2,101.16
08/10/2017£7,759.29£5,736.35£2,022.93
08/11/2017£7,759.29£5,815.66£1,943.63
08/12/2017£7,759.29£5,896.06£1,863.23
08/01/2018£7,759.29£5,977.57£1,781.71
08/02/2018£7,759.29£6,060.21£1,699.07
08/03/2018£7,759.29£6,143.99£1,615.29
08/04/2018£112,255.67£110,713.65£1,542.02
08/05/2018£0.00£0.00£0.00
08/06/2018£0.00£0.00£0.00
08/07/2018£0.00£0.00£0.00
08/08/2018£0.00£0.00£0.00
08/09/2018£0.00£0.00£0.00
08/10/2018£0.00£0.00£0.00
08/11/2018£0.00£0.00£0.00
08/12/2018£0.00£0.00£0.00
08/01/2019£0.00£0.00£0.00
08/02/2019£0.00£0.00£0.00
08/03/2019£0.00£0.00£0.00
08/04/2019£0.00£0.00£0.00
08/05/2019£0.00£0.00£0.00
08/06/2019£0.00£0.00£0.00
08/07/2019£0.00£0.00£0.00
Total:£315,019.22£138,645.07