B Smart Properties Ltd

Investment Requests for Growing Construction Business

Overview
Funds raised
£33,480
Final AER
11.89%
Loan Term
60
Completed:
24/04/2018
About the Business
Company Name: B SMART PROPERTIES LTD Company Number: 09429907
Business Type: CONSTRUCTION Years Trading: 3-5 years
Business Location: Poole
About the Risk
Risk Rating: B

Default rate

6.6%

Bad debt rate

0.15%

Risk Idicators
Identified:
Below Average Business Credit Rating
A 3rd party credit rating agency has indicated that this business is above average risk.
High Debt-to-Equity Ratio
This company has a higher than average level of company debt in relation to its equity
Low Quick Ratio Score
The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet its short-term obligations with its most liquid assets
About the Security
Security Offered:
content
Personal Guarantee - PG from director Ben Butler
Est. Equity: £0.00

content
Property Charge - 2nd priority legal charge over a domestic property owned by the business
Est. Equity: £80000.00

Important Files
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Who are we?

This loan has benefited from a starting rate interest rate reduction due to the security offered, you can find out more information on this here

.

This is a property development business run by Ben Butler, which in the last two years has built three new houses and refurbished two more. One is held as an investment and one is sold subject to contract. The company is currently building a new house for completion in February and has bought another property with a building plot.

The company property assets and liabilities at present are:

1. Investment property: value £275k mortgage £202k. (rent £1k pm)

2. House sold STC for £250k debt £200k (will be cleared on sale)

3. Current development value £250k debt £50k a further £50k is agreed to finish the house which will be completed by February and offered for sale at £340k

4. New property with building plot. Purchase price £320k, mortgage £205k. The plan is for the existing property to be refurbished and sold for £250k and a new property built in the garden. Build costs are £100k and the estimated sale price £265k. Full planning is in place.

READ MORE...

Details

Who are we?

This loan has benefited from a starting rate interest rate reduction due to the security offered, you can find out more information on this here

.

This is a property development business run by Ben Butler, which in the last two years has built three new houses and refurbished two more. One is held as an investment and one is sold subject to contract. The company is currently building a new house for completion in February and has bought another property with a building plot.

The company property assets and liabilities at present are:

1. Investment property: value £275k mortgage £202k. (rent £1k pm)

2. House sold STC for £250k debt £200k (will be cleared on sale)

3. Current development value £250k debt £50k a further £50k is agreed to finish the house which will be completed by February and offered for sale at £340k

4. New property with building plot. Purchase price £320k, mortgage £205k. The plan is for the existing property to be refurbished and sold for £250k and a new property built in the garden. Build costs are £100k and the estimated sale price £265k. Full planning is in place.

READ MORE...

The loan is required for flexibility. There is usually very strong demand for single building plots and therefore Ben has to react quickly to secure good deals. A business loan will enable him to have this flexibility.

Until recently Ben has borrowed from his mother but she is moving house and her funds will be tied up.

Whilst the borrower has excellent relationships with existing funders, they are often slow to react. This loan will give Ben the working capital to take advantage of upcoming good deals as well as help to fund existing developments pending drawdowns from the lender. Such existing developments can often be delayed whilst Surveyors reports are produced. An example of such a delay in the receipt of funds has been in the house (No. 2) sold STC. There is a buyer who is very keen to move in but the sale is under the government's "right to buy" scheme which has presented lengthy delays.

Loan Offers

Please note that only the top 100 microloans are listed for sale.

ID
ID
Micro loan identification number.
Price
Price
Price for each individual micro loan.
Total repayable / interest
Total repayable / interest
Total amount to be repaid including interests.
Disc / Prem
Discount or premium for microloan
Discount or premium for microloan.
Buyer's Rate
Buyer's Rate
The buyer's rate is the reference rate for the buyer when a microloan is listed on the secondary marketplace.
Monthly Payments
Monthly Payments
Monthly payment based on amount borrowed, interest rate and constant repayment schedule (term).
Buy
Buy
Click on check box for micro loans you're interested on buying.
1240777 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242245 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242257 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242433 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240725 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242255 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242523 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242437 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248609 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248613 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240741 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242455 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240735 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242427 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242459 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242445 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242451 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240795 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242267 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248607 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240759 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242237 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240793 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248631 £147.04£129.34 / £-16.97+0.50%11.77%£2.23
1242469 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242223 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240791 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240783 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242453 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242425 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242221 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240723 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240775 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240781 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248767 £147.04£129.34 / £-16.97+0.50%11.77%£2.23
1248765 £147.04£129.34 / £-16.97+0.50%11.77%£2.23
1242481 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242475 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242431 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242261 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248771 £196.05£129.34 / £-65.74+0.50%11.77%£2.23
1242231 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240719 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248625 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242465 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242447 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242225 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240785 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242247 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240721 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240771 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242439 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242229 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242435 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240773 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240737 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248603 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242241 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242461 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240761 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248759 £196.05£129.34 / £-65.74+0.50%11.77%£2.23
1242457 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242263 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248769 £196.05£129.34 / £-65.74+0.50%11.77%£2.23
1242251 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242233 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240767 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248627 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240769 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242429 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240787 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242243 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242443 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240739 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242483 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242227 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242239 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240779 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248757 £147.04£129.34 / £-16.97+0.50%11.77%£2.23
1248611 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242249 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242259 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248763 £147.04£129.34 / £-16.97+0.50%11.77%£2.23
1242463 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1242467 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1248615 £98.03£129.34 / £31.8+0.50%11.77%£2.23
1240689 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240717 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240749 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240751 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1242403 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1242407 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240753 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240757 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240745 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240681 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1242401 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1242411 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240683 £98.51£129.34 / £31.8+1.00%11.55%£2.23
1240691 £98.51£129.34 / £31.8+1.00%11.55%£2.23
Business Profile

What is the loan for?

The loan is required for flexibility. There is usually very strong demand for single building plots and therefore Ben has to react quickly to secure good deals. A business loan will enable him to have this flexibility.

Until recently Ben has borrowed from his mother but she is moving house and her funds will be tied up.

Whilst the borrower has excellent relationships with existing funders, they are often slow to react. This loan will give Ben the working capital to take advantage of upcoming good deals as well as help to fund existing developments pending drawdowns from the lender. Such existing developments can often be delayed whilst Surveyors reports are produced. An example of such a delay in the receipt of funds has been in the house (No. 2) sold STC. There is a buyer who is very keen to move in but the sale is under the government's "right to buy" scheme which has presented lengthy delays.

Why consider investing?

This is a growing business which is very profitable. Importantly profits were retained in the business. Ben Butler is a young, extremely committed, hard working builder who is experienced and has built some very desirable property. There are very good profitable new builds in the pipeline

Security

This loan is to be secured by way of a Personal Guarantee and a charge over property.

A Personal Guarantee is being provided by the company's sole director, Ben Butler. Mr Butler is not a homeowner.

A second priority legal charge will be taken over a property owned by the business. The property, a 2 bedroom semi-detached house, is currently valued at £290,000 by online estimates. There is one existing charge, a mortgage with £202,000 outstanding. This leaves an estimated £80,000 equity to be covered by our charge.

Selected Micro Loan

Opportunities...

Buy Capital Seller's
Premium
Price Buyer's
Rate
£195.08 +0.50% £196.05 11.77%
£146.31 +0.50% £147.04 11.77%
£97.54 +0.50% £98.03 11.77%
£97.54 +1.00% £98.51 11.55%
£39.02 +1.00% £39.41 11.55%
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