Connexin Limited

Technology

Funds Requested

£37,510.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2015-05-05

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

About the Business

Company Name: Connexin Limited Company Number: 05823408
Business Type: Technology Years Trading: 6-10 years
Business Location: Cambridge

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

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 director and majority shareholder

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Visit Our Website

Connexin is a leading provider of Hybrid Connectivity and Hosted services, building and utilising high speed networks to deliver, unify and host services that we have come to rely on such as email, voice, video and apps across multiple platforms. At Connexin we commercialise these into cost effective products targeting the residential, SME and Enterprise markets

Our ability to build and deploy cost effective high speed wireless city-wide networks capable of delivering up to 10Gbps symmetrical speeds means Connexin can own the complete customer experience from infrastructure to end user, making Connexin a unique offering.

Read more

Loan Offers

What is the loan for?

The loan will be used to invest in further infrastructure in both Hull and Leeds but also to expand their newest networks in Birmingham, Bradford and York. The company are targeting those locations identified in the Governments Super Connected cities programme to provide high speed internet and cloud based services without the need for heavy infrastructure cabling used by fibre and cable operators.

The company are seeking short term debt funding to provide the funds to purchase additional transmitters and IT backbone with a medium term drive to introduce additional equity capital.

Why consider investing?

Connexin has been at the forefront of this technology revolution since 2006 and have been early adopters of wide range wireless services. The business leases a 10Gbps high speed fibre line which feeds the wireless network by way of strategically placed transponders. The investment to date has come directly from the shareholders and has enabled the business to build growing monthly revenue streams of £77k. The infrastructure used creates a greener method of deployment and operation giving a 50% smaller carbon footprint than traditional internet systems.rnrnProjections show the business to grow revenues from £750k in the current to £2.6M (YR1),£8.336M (YR2) and £17.82M (YR3) with an increasing spread of clients in the lucrative business telecoms sector.

Security

The loan is to be secured by way of 2 director guarantees and a 3rd party guarantee as well as an All Assets Debenture

The directors do not own any tangible assets and as such their net worth rest solely in value of the applicant company. The directors have opted to back their guarantees with Personal Guarantee Insurance. The amount of the insurance cover increases over a period of five years up to 90% of the amount of the guarantee

The third party guarantor is a minority shareholder of the business, and has an estimate net worth of £284k, primarily from ownership of a personal property with an estimate value of £310k and equity of £289k.

DateAmountCapitalInterestReceived
05/06/2015£925.78£404.39£521.39
05/07/2015£925.78£410.01£515.77
05/08/2015£925.78£415.71£510.07
05/09/2015£421.49£421.49£0.00
05/10/2015£427.35£427.35£0.00
05/11/2015£433.29£433.29£0.00
05/12/2015£439.31£439.31£0.00
05/01/2016£445.42£445.42£0.00
05/02/2016£451.61£451.61£0.00
05/03/2016£457.88£457.88£0.00
05/04/2016£464.25£464.25£0.00
05/05/2016£470.70£470.70£0.00
05/06/2016£477.24£477.24£0.00
05/07/2016£483.88£483.88£0.00
05/08/2016£490.60£490.60£0.00
05/09/2016£497.42£497.42£0.00
05/10/2016£504.34£504.34£0.00
05/11/2016£511.35£511.35£0.00
05/12/2016£518.46£518.46£0.00
05/01/2017£525.66£525.66£0.00
05/02/2017£532.97£532.97£0.00
05/03/2017£540.38£540.38£0.00
05/04/2017£547.89£547.89£0.00
05/05/2017£555.50£555.50£0.00
05/06/2017£563.23£563.23£0.00
05/07/2017£571.05£571.05£0.00
05/08/2017£578.99£578.99£0.00
05/09/2017£587.04£587.04£0.00
05/10/2017£595.20£595.20£0.00
05/11/2017£603.47£603.47£0.00
05/12/2017£611.86£611.86£0.00
05/01/2018£620.37£620.37£0.00
05/02/2018£628.99£628.99£0.00
05/03/2018£637.73£637.73£0.00
05/04/2018£646.60£646.60£0.00
05/05/2018£655.58£655.58£0.00
05/06/2018£664.70£664.70£0.00
05/07/2018£673.94£673.94£0.00
05/08/2018£683.30£683.30£0.00
05/09/2018£692.80£692.80£0.00
05/10/2018£702.43£702.43£0.00
05/11/2018£712.20£712.20£0.00
05/12/2018£722.10£722.10£0.00
05/01/2019£732.13£732.13£0.00
05/02/2019£742.31£742.31£0.00
05/03/2019£752.63£752.63£0.00
05/04/2019£763.09£763.09£0.00
05/05/2019£773.70£773.70£0.00
05/06/2019£784.45£784.45£0.00
05/07/2019£795.35£795.35£0.00
05/08/2019£806.41£806.41£0.00
05/09/2019£817.62£817.62£0.00
05/10/2019£828.98£828.98£0.00
05/11/2019£840.51£840.51£0.00
05/12/2019£852.19£852.19£0.00
05/01/2020£864.04£864.04£0.00
05/02/2020£876.05£876.05£0.00
05/03/2020£888.22£888.22£0.00
05/04/2020£900.57£900.57£0.00
05/05/2020£913.09£913.09£0.00
Total:£37,510.00£1,547.23