Mercia College Limited

Education

Funds Requested

£43,000.00

Offered so far

£0.00

Loan term

24 MONTHS

Auction Closed

2015-01-18

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

About the Business

Company Name: Mercia College Limited Company Number: 06672390
Business Type: Education Years Trading: 6-10 years
Business Location: 8A MARKET PLACE

About the Risk

Risk rating

C

Default rate

13.00%

Bad debt rate

5.33%

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 [name of director(s)]

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 Mercia College'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 .

Mercia College is a National Training provider that delivers apprenticeship qualifications in the workplace. We deliver qualifications in various subject areas such as; Health and Social Care, Business Administration, Customer Service, Team Leading, Warehousing and Storage and Management from Level 2 through to Level 7.

We support organisations to up skill their current workforce through our qualifications, which in turn could increase staff morale, productivity and staff retention. We also support unemployed individuals to gain employment through our apprenticeship scheme. We work closely with local employers who support this scheme by employing an apprentice within their business. We engage with various people every day that are out of work and seeking employment.

We particularly specialize in 16-19 year old candidates who are not in education, training or employment. We support each individual with CV and cover letter writing, interview skills and techniques, we find out what pathway they wish to follow and support this process until they are in education, training or employment. Candidates that are not yet work ready have the option to undertake our Study Course which is aimed at 16-19 year old candidates and gives them the skills needed to get into employment. This course is a vital part of how we are able to get candidates into work through an apprenticeship scheme. This course gives the candidates the skills needed to get through the interview stage and also gives them knowledge of their chosen sector through work experience and gaining qualifications upon completion of the course.

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Loan Offers

What is the loan for?

The loan will help us to expand our existing provision, giving us the opportunity to open our doors to further candidates that are unemployed. The loan will be used for new computer equipment to enable the delivery of 40 candidates over a 6 month duration. I will run two courses in any one year which means that 80 candidates per year will receive the benefits of our training and gain employment once the course has been completed.

Why consider investing?

I have an existing loan at the moment with Rebuilding Society. I have a good track record of re-payments and in February 2015 it will be one year. I am very passionate about what my business stands for and I have a huge commitment to both the candidates and employers we engage with. This loan will help me to expand my business which in turn will give more people the opportunity to gain skills, qualifications and employment.

Security

The loan is to be secured by way of Director guarantee and an All Assets Debenture

The director has no tangible assets and has declared est. liquid assets of approx £4k.

DateAmountCapitalInterestReceived
19/02/2015£2,128.70£1,514.88£613.82
19/03/2015£2,128.70£1,536.50£592.20
19/04/2015£2,128.70£1,558.44£570.26
19/05/2015£2,128.70£1,580.68£548.02
19/06/2015£2,128.70£1,603.25£525.45
19/07/2015£2,128.70£1,626.14£502.56
19/08/2015£2,128.70£1,649.35£479.35
19/09/2015£2,128.70£1,672.89£455.81
19/10/2015£2,128.70£1,696.77£431.93
19/11/2015£2,128.70£1,720.99£407.71
19/12/2015£2,128.70£1,745.56£383.14
19/01/2016£2,128.70£1,770.48£358.22
19/02/2016£2,128.70£1,795.75£332.95
19/03/2016£2,128.70£1,821.39£307.31
19/04/2016£2,128.70£1,847.39£281.31
19/05/2016£2,128.70£1,873.76£254.94
19/06/2016£2,128.70£1,900.51£228.19
19/07/2016£2,128.70£1,927.64£201.06
19/08/2016£2,128.70£1,955.15£173.55
19/09/2016£2,128.70£1,983.06£145.64
19/10/2016£2,128.70£2,011.37£117.33
19/11/2016£2,128.70£2,040.08£88.62
19/12/2016£2,128.70£2,069.21£59.49
19/01/2017£2,128.70£2,098.74£29.96 (6 days late)
Total:£42,999.98£8,088.82