Shri Maa Limited

Other

Funds Raised

£45,000.00

Final AER

13.93%

Loan term

60 MONTHS

Auction Closed

2014-09-26

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: Shri Maa Limited Company Number: 07582238
Business Type: Other Years Trading: 4-5 years
Business Location: HASTINGS

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

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 - Done (PG from director and majority shareholder)

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

We run a convenience store selling all of your grocery needs and other items such as paypoint, lottery, postal and courier services, we also have an alcohol license.

The client has been in the retail industry for the last 10 years but he is also an accountant working for a large firm and so can take that corporate mentality into a small business. The client’s wider family are also very experienced retailers. They also have experience of running a number of other stores in the past.

Read more

Loan Offers

What is the loan for?

The loan is to buy another convenience store

The new store is in Sussex, however the client cannot currently publicly disclose more information due to the ongoing negotiations around the purchase of the shop

Why consider investing?

We have been running this business for a number of years and have a good loyal local client base. We are able to buy well and so therefore can focus on our margins at the same time as being able to offer our clients good deals on their shopping.

Security

The Loan is to be secured by an All Assets Debenture and Directors Guarantees

The Directors have a combined net worth of £425k. Primarily from equity in 4 properties with a combined estimate value £995k and an estimate equity of £454k

DateAmountCapitalInterestReceived
06/11/2014£1,045.44£523.06£522.38
06/12/2014£1,045.44£529.14£516.30
06/01/2015£1,045.44£535.28£510.16
06/02/2015£1,045.44£541.49£503.95
06/03/2015£1,045.44£547.78£497.66
06/04/2015£1,045.44£554.14£491.30
06/05/2015£1,045.44£560.57£484.87
06/06/2015£1,045.44£567.08£478.36
06/07/2015£1,045.44£573.66£471.78
06/08/2015£1,045.44£580.32£465.12
06/09/2015£1,045.44£587.05£458.39
06/10/2015£1,045.44£593.87£451.57
06/11/2015£1,045.44£600.76£444.68
06/12/2015£1,045.44£607.74£437.70
06/01/2016£1,045.44£614.79£430.65
06/02/2016£1,045.44£621.93£423.51
06/03/2016£1,045.44£629.15£416.29
06/04/2016£1,045.44£636.45£408.99
06/05/2016£1,045.44£643.84£401.60
06/06/2016£1,045.44£651.31£394.13
06/07/2016£1,045.44£658.87£386.57
06/08/2016£1,045.44£666.52£378.92
06/09/2016£1,045.44£674.26£371.18 (6 days late)
06/10/2016£1,045.44£682.09£363.35
06/11/2016£1,045.44£690.01£355.43
06/12/2016£1,045.44£698.01£347.43
06/01/2017£1,045.44£706.12£339.32
06/02/2017£1,045.44£714.31£331.13
06/03/2017£1,045.44£722.61£322.83
06/04/2017£1,045.44£730.99£314.45
06/05/2017£1,045.44£739.48£305.96
06/06/2017£1,045.44£748.06£297.38
06/07/2017£1,045.44£756.75£288.69
06/08/2017£1,045.44£765.53£279.91
06/09/2017£1,045.44£774.42£271.02
06/10/2017£1,045.44£783.41£262.03 (11 days late)
06/11/2017£1,045.44£792.50£252.94
06/12/2017£1,045.44£801.70£243.74
06/01/2018£1,045.44£811.01£234.43
06/02/2018£1,045.44£820.42£225.02
06/03/2018£1,045.44£829.95£215.49 (6 days late)
06/04/2018£1,045.44£839.58£205.86
06/05/2018£1,045.44£849.33£196.11 (8 days late)
06/06/2018£1,045.44£859.19£186.25 (121 days late)
06/07/2018£1,045.44£869.16£176.28 (129 days late)
06/08/2018£166.19£0.00£166.19Interest only
06/09/2018£166.19£0.00£166.19Interest only
06/10/2018£166.19£0.00£166.19Interest only
06/11/2018£166.19£0.00£166.19Interest only
06/12/2018£166.19£0.00£166.19Interest only
06/01/2019£166.19£0.00£166.19Interest only
06/02/2019£1,045.44£879.25£166.19 (9 days late)
06/03/2019£1,045.44£889.46£155.98
06/04/2019£1,045.44£899.78£145.66
06/05/2019£1,045.44£910.23£135.21
06/06/2019£1,045.44£920.79£124.65
06/07/2019£113.96£0.00£113.96Interest only
06/08/2019£113.96£0.00£113.96Interest only
06/09/2019£1,045.44£931.48£113.96Not Due
06/10/2019£1,045.44£942.30£103.14Not Due
06/11/2019£1,045.44£953.23£92.21Not Due
06/12/2019£1,045.44£964.30£81.14Not Due
06/01/2020£1,045.44£975.49£69.95Not Due
06/02/2020£1,045.44£986.82£58.62Not Due
06/03/2020£1,045.44£998.27£47.17Not Due
06/04/2020£1,045.44£1,009.86£35.58Not Due
06/05/2020£1,045.44£1,021.58£23.86Not Due
06/06/2020£1,045.44£1,033.44£12.00Not Due
Total:£44,999.98£18,951.48