Elite Training Assessing & Development CIC

Education

Funds Raised

£40,000.00

Final AER

16.39%

Loan term

60 MONTHS

Auction Closed

2016-04-18

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£22.42 +5.00% £23.54 11.40%
£8.97 +7.50% £9.64 8.73%
£4.48 +7.50% £4.82 8.73%
£4.48 +10.00% £4.93 6.16%
£22.42 +10.99% £24.88 5.16%

About the Business

Company Name: Elite Training Assessing & Development CIC Company Number: 8299254
Business Type: Education Years Trading: 3-5 years
Business Location: Wigan

About the Risk

Risk rating

B

Default rate

7.10%

Bad debt rate

5.84%

About the Security

Security Offered:

1st Charge Residential Property

Est. Equity: 0.00

All Assets Debenture

Est. Equity: 0.00

Personal Guarantee - PG from cngwenya

Est. Equity: 0.00

Risk Indicators Identified:

Previous Failed Businesses
One or more of the directors has been involved in a failed business

Important Files

Who are we?

We are a private Training Provider based in Wigan and Manchester. We specialise in Teacher Training qualifications which we deliver both through e-learning and classroom based. We offer from Level 3 to Level 5 and also specialist pathways, including Literacy, Numeracy, ESOL and Learning Disabilities. We deliver Assessor qualifications and Teaching Assistant courses. We have recently become accredited to deliver AAT Accounting qualifications from Level 1 to 4. We want to market and deliver these nationally and we need to employ additional staff to help us with this. We need additional Tutors, administration and marketing staff. We also want to take on more contracts, we deliver Apprenticeships, Traineeships and Functional Skills. We are looking to work with some Colleges as partners to run our own contract as a sub contractor and again we need more staff to help us to manage these contract. We also want to offer young people the opportunity to work for us as Apprentices and give them the opportunity to experience first class training and development.

In our 3 years of trading we have managed to become accredited by 3 Awarding Organisations, Pearson Edexcel, Highfield ABC and TQUK. This is a great achievement as the copliance for accreditation is a difficult process. In our first year we were nominated for Wigans Best Start Up Business. We have moved to a larger office in Wigan and employ 5 local people and we have opened a Manchester office where we employ 3 local people. We have won contracts to deliver courses to unemployed people, we were allocated to deliver to 60 people and we delivered to 90 people. We are passionate about helping people and working with the community to help to improve lives for as many people as possible.

Read more

Loan Offers

What is the loan for?

To ease the cashflow and build capacity by employing more staff so we can take on more contracts. We would like to employ 2 AAT Tutors and 1 admin staff to help with marketing and essential paperwork. We would like to offer an accountancy apprenticeship to a Young Person and also a Business Admin Apprenticeship so we can develop them and give them a great start in their careers. We also need some help with cash flow as we want to move to larger premises.

Why consider investing?

We are a growing business, we can offer a future to Young People and bring employment to deprived areas in Manchester and Wigan. We are educating and training people to improve lives and give people confidence and new skills.

Security

The loan is to be secured by way of a Personal Guarantee provided from two of the Directors of the company.

The Directors have a combined estimated net worth of £552,000. This primarily comes from the personal property portfolios of each Director. The first Director owns two properties with a combined estimated value of £410k and an estimated equity of £180k, and the second Director owns three properties with a combined estimated value of £400k and an estimated equity of £372k.

DateAmountCapitalInterestReceived
19/05/2016£981.03£434.70£546.33
19/06/2016£981.03£440.63£540.40
19/07/2016£981.03£446.65£534.38
19/08/2016£981.03£452.75£528.28
23/09/2016£981.03£458.94£522.09
23/10/2016£981.03£465.21£515.82
23/11/2016£981.03£471.56£509.47
23/12/2016£981.03£478.00£503.03
23/01/2017£981.03£484.53£496.50
23/02/2017£981.03£491.15£489.88
23/03/2017£981.03£497.85£483.18
23/04/2017£981.03£504.65£476.38
23/05/2017£981.03£511.55£469.48
23/06/2017£981.03£518.53£462.50
23/07/2017£981.03£525.62£455.41
23/08/2017£981.03£532.80£448.23
23/09/2017£981.03£540.07£440.96
23/10/2017£981.03£547.45£433.58
23/11/2017£981.03£554.93£426.10
23/12/2017£981.03£562.51£418.52 (19 days late)
23/01/2018£981.03£570.19£410.84
23/02/2018£981.03£577.98£403.05
23/03/2018£981.03£585.87£395.16 (5 days late)
23/04/2018£981.03£593.87£387.16 (7 days late)
23/05/2018£981.03£601.98£379.05 (6 days late)
23/06/2018£981.03£610.21£370.82 (6 days late)
23/07/2018£981.03£618.54£362.49
23/08/2018£981.03£626.99£354.04
23/09/2018£981.03£635.55£345.48
23/10/2018£981.03£644.23£336.80
23/11/2018£981.03£653.03£328.00
23/12/2018£981.03£661.95£319.08
23/01/2019£981.03£670.99£310.04
23/02/2019£981.03£680.16£300.87
23/03/2019£981.03£689.45£291.58
23/04/2019£981.03£698.86£282.17 (23 days late)
23/05/2019£981.03£708.41£272.62 (8 days late)
23/06/2019£981.03£718.08£262.95
23/07/2019£981.03£727.89£253.14
23/08/2019£981.03£737.83£243.20Not Due
23/09/2019£981.03£747.91£233.12Not Due
23/10/2019£981.03£758.13£222.90Not Due
23/11/2019£981.03£768.48£212.55Not Due
23/12/2019£981.03£778.98£202.05Not Due
23/01/2020£981.03£789.62£191.41Not Due
23/02/2020£981.03£800.40£180.63Not Due
23/03/2020£981.03£811.33£169.70Not Due
23/04/2020£981.03£822.42£158.61Not Due
23/05/2020£981.03£833.65£147.38Not Due
23/06/2020£981.03£845.04£135.99Not Due
23/07/2020£981.03£856.58£124.45Not Due
23/08/2020£981.03£868.28£112.75Not Due
23/09/2020£981.03£880.14£100.89Not Due
23/10/2020£981.03£892.16£88.87Not Due
23/11/2020£981.03£904.34£76.69Not Due
23/12/2020£981.03£916.69£64.34Not Due
23/01/2021£981.03£929.21£51.82Not Due
23/02/2021£981.03£941.91£39.12Not Due
23/03/2021£981.03£954.77£26.26Not Due
23/04/2021£981.03£967.81£13.22Not Due
Total:£39,999.99£18,861.81