CHANCERY CONSTRUCTION LIMITED

CONSTRUCTION

Funds Raised

£29,720.00

Final AER

10.94%

Loan term

48 MONTHS

Auction Closed

2019-05-23

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: CHANCERY CONSTRUCTION LIMITED Company Number: 04268660
Business Type: CONSTRUCTION Years Trading: More than 10 years
Business Location: London

About the Risk

Risk rating

A+

Default rate

0.00%

Bad debt rate

0.00%

About the Security

Security Offered:

Personal Guarantee - PG from Mr Reza Beygi

Est. Equity: 600000.00

Risk Indicators Identified:

Important Files

Who are we?

We are Chancery Construction Limited, an innovative construction company that specialises in providing construction, refurbishment and remodelling services within the United Kingdom. We have been in operation for almost two decades and have developed a healthy client list in and around the UK. We provide services to predominantly commercial entities; however, we also render construction services to individuals in need of residential structure services. We have consistently displayed growth year-on-year, and have increased turnover over the year with prudent financial management skills and cost-effective building methodologies.

Read more

Loan Offers

What is the loan for?

We require a loan facility for the completion of a contract with one of our top clients for the remodelling of an eight-bedroom apartment structure into an office complex. The total estimated cost of this project amounts to north of £275,000. Whilst we have healthy bank balances, we are unable to utilise our funds to cover the total project cost, as we also have other simultaneous projects and administrative cost obligations running concurrently. We therefore seek to partner with lenders to raise £100,000 to supplement our funding in order to successfully execute this project. The successful completion of this project will put us on track to achieve our £6.3m estimated turnover for the financial year.

Why consider investing?

Our team has displayed consistent growth over the years since inception. This has been achieved by impeccable attention to our client’s details, and prudent management of financial and human resources at our disposal.

Disclosure

This auction has been cancelled and relisted. The loan amount requested and the security on offer has been amended. Lenders who bid on the previous auction have had their bids cancelled and refunded. They are advised to re-review the new listing and security.

Security

This loan will be secured by way of a Personal Guarantee.

A PG will be provided by the sole director, Mr Reza Beygi. Mr Beygi has an estimated net worth of £600,000 which is derived from his ownership of his personal residence. This is a flat with an estimated value of £600,000 with no current charges.

DateAmountCapitalInterestReceived
27/06/2019£767.27£496.31£270.9653 days overdue
27/07/2019£767.27£500.83£266.4423 days overdue
27/08/2019£767.27£505.40£261.87Not Due
27/09/2019£767.27£510.01£257.26Not Due
27/10/2019£767.27£514.66£252.61Not Due
27/11/2019£767.27£519.35£247.92Not Due
27/12/2019£767.27£524.08£243.19Not Due
27/01/2020£767.27£528.86£238.41Not Due
27/02/2020£767.27£533.68£233.59Not Due
27/03/2020£767.27£538.55£228.72Not Due
27/04/2020£767.27£543.46£223.81Not Due
27/05/2020£767.27£548.42£218.85Not Due
27/06/2020£767.27£553.42£213.85Not Due
27/07/2020£767.27£558.46£208.81Not Due
27/08/2020£767.27£563.55£203.72Not Due
27/09/2020£767.27£568.69£198.58Not Due
27/10/2020£767.27£573.88£193.39Not Due
27/11/2020£767.27£579.11£188.16Not Due
27/12/2020£767.27£584.39£182.88Not Due
27/01/2021£767.27£589.72£177.55Not Due
27/02/2021£767.27£595.09£172.18Not Due
27/03/2021£767.27£600.52£166.75Not Due
27/04/2021£767.27£605.99£161.28Not Due
27/05/2021£767.27£611.52£155.75Not Due
27/06/2021£767.27£617.09£150.18Not Due
27/07/2021£767.27£622.72£144.55Not Due
27/08/2021£767.27£628.40£138.87Not Due
27/09/2021£767.27£634.13£133.14Not Due
27/10/2021£767.27£639.91£127.36Not Due
27/11/2021£767.27£645.74£121.53Not Due
27/12/2021£767.27£651.63£115.64Not Due
27/01/2022£767.27£657.57£109.70Not Due
27/02/2022£767.27£663.57£103.70Not Due
27/03/2022£767.27£669.62£97.65Not Due
27/04/2022£767.27£675.72£91.55Not Due
27/05/2022£767.27£681.88£85.39Not Due
27/06/2022£767.27£688.10£79.17Not Due
27/07/2022£767.27£694.37£72.90Not Due
27/08/2022£767.27£700.70£66.57Not Due
27/09/2022£767.27£707.09£60.18Not Due
27/10/2022£767.27£713.54£53.73Not Due
27/11/2022£767.27£720.04£47.23Not Due
27/12/2022£767.27£726.61£40.66Not Due
27/01/2023£767.27£733.23£34.04Not Due
27/02/2023£767.27£739.92£27.35Not Due
27/03/2023£767.27£746.66£20.61Not Due
27/04/2023£767.27£753.47£13.80Not Due
27/05/2023£767.27£760.34£6.93Not Due
Total:£29,720.00£7,108.96