AUTO CLAIMS ASSIST LTD

Automotive

Funds Requested

£40,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2013-05-01

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About the Business

Company Name: AUTO CLAIMS ASSIST LTD Company Number: 06852246
Business Type: Automotive Years Trading: 4-5 years
Business Location: MANCHESTER

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 - PG from Simon Parry

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Auto Claims Assist Limited is a vehicle hire company. It provides small, medium and large cars as well as commercial vehicles. The business was launched in 2009 with 10 vehicles all financed by the sole director personally and since its incorporation the business has gone from strength to strength with a current day fleet in excess of 50 vehicles. As well as general public business, Auto Claims Assist Limited offers credit hire to a panel of law firms. The business also offers a 24 hour vehicle recovery service. There are a number of garages, lawyers and vehicle traders who regularly use this service. This generates a number of new hires for the company as Auto Claims Assist is the first company to come into contact with the client when their vehicle is unusable. The company has a number of members of staff including a full time accountant. The director of the business takes the management accounting extremely seriously and feels his stronghold over income and expenditure has been the reason why the company has grown as it has.

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Loan Offers

What is the loan for?

The director of the company wishes to expand his business and add to his fleet of vehicles. His vehicle usage is constantly at a maximum and he is at a point where he is turning business away. He has worked particularly hard since the launch of the business in 2009 to build a database of high quality business introducers and the company accounts evidence his success in this. He does not want to constantly turn business away and jeopardise the relationships he has worked so hard to build. A £40,000 cash injection will enable this business to go to the next level, increasing turnover and profits. The cashflow injection will be used to add to his fleet and continue to build on quality business relationships he has developed to date.

Why consider investing?

An all-asset debenture has been offered by the director to cover this loan. The business has shown steady growth in what is a particularly tough economic climate. The director has shown great resilience, management and business acumen in not only surviving in these times, but also growing the business. The client has shown commitment and dedication both financially and time-wise in investing into this business since 2009 both his own cash and time.

DateAmountCapitalInterestReceived
07/06/2013£1,035.86£405.30£630.56
07/07/2013£1,035.86£411.69£624.17
07/08/2013£1,035.86£418.18£617.68
07/09/2013£1,035.86£424.77£611.09
07/10/2013£1,035.86£431.46£604.40
07/11/2013£1,035.86£438.26£597.60
07/12/2013£1,035.86£445.17£590.69
07/01/2014£1,035.86£452.18£583.68
07/02/2014£1,035.86£459.31£576.55
07/03/2014£1,035.86£466.55£569.31
07/04/2014£1,035.86£473.90£561.96
07/05/2014£1,035.86£481.37£554.49
07/06/2014£1,035.86£488.95£546.91
07/07/2014£1,035.86£496.66£539.20
07/08/2014£1,035.86£504.48£531.38
07/09/2014£1,035.86£512.43£523.43
07/10/2014£1,035.86£520.51£515.35
07/11/2014£1,035.86£528.71£507.15
07/12/2014£1,035.86£537.04£498.82
07/01/2015£1,035.86£545.51£490.35
07/02/2015£1,035.86£554.10£481.76
07/03/2015£1,035.86£562.83£473.03
07/04/2015£1,035.86£571.70£464.16
07/05/2015£1,035.86£580.71£455.15
07/06/2015£1,035.86£589.86£446.00
07/07/2015£1,035.86£599.16£436.70
07/08/2015£1,035.86£608.60£427.26
07/09/2015£1,035.86£618.19£417.67
07/10/2015£1,035.86£627.93£407.93
07/11/2015£1,035.86£637.83£398.03
07/12/2015£1,035.86£647.88£387.98
07/01/2016£1,035.86£658.09£377.77
07/02/2016£1,035.86£668.46£367.40
07/03/2016£1,035.86£678.99£356.87
07/04/2016£1,035.86£689.69£346.17
07/05/2016£1,035.86£700.56£335.30
07/06/2016£1,035.86£711.60£324.26
07/07/2016£1,035.86£722.82£313.04
07/08/2016£1,035.86£734.21£301.65
07/09/2016£1,035.86£745.78£290.08
07/10/2016£1,035.86£757.53£278.33
07/11/2016£1,035.86£769.47£266.39
07/12/2016£1,035.86£781.59£254.27
07/01/2017£1,035.86£793.91£241.95
07/02/2017£1,035.86£806.42£229.44
07/03/2017£1,035.86£819.13£216.73
07/04/2017£1,035.86£832.04£203.82
07/05/2017£1,035.86£845.15£190.71
07/06/2017£1,035.86£858.46£177.40
07/07/2017£1,035.86£871.99£163.87
07/08/2017£1,035.86£885.73£150.13
07/09/2017£1,035.86£899.69£136.17
07/10/2017£1,035.86£913.87£121.99
07/11/2017£1,035.86£928.27£107.59
07/12/2017£1,035.86£942.90£92.96
07/01/2018£1,035.86£957.76£78.10
07/02/2018£1,035.86£972.85£63.01
07/03/2018£1,035.86£988.18£47.68
07/04/2018£1,035.86£1,003.75£32.11
07/05/2018£1,035.86£1,019.57£16.29
Total:£39,999.68£22,151.92