IB CONTRACTORS LIMITED

CONSTRUCTION

Funds Raised

£25,650.00

Final AER

19.89%

Loan term

42 MONTHS

Auction Closed

2019-02-27

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£189.84 +7.00% £203.13 16.60%
£9.49 +8.00% £10.25 16.14%
£9.49 +8.50% £10.30 15.91%
£18.98 +8.90% £20.67 15.73%
£9.49 +8.90% £10.34 15.73%

About the Business

Company Name: IB CONTRACTORS LIMITED Company Number: 08474690
Business Type: CONSTRUCTION Years Trading: 5-10 years
Business Location: Cardiff

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from sole director

Est. Equity: 1500000.00

Risk Indicators Identified:

Notable Dividends Taken
More than 50% of Net Profit has been taken as dividends within at least one of the assessed periods
May not produce Management Accounts
This company may not prepare management accounts on a regular basis
Late Filing at Companies House
Either the financial statements, annual return or confirmation statement is currently overdue at Companies House

Important Files

Who are we?

IB Contractors was found in 2013, with over 20 years’ experience within the building industry. With our company consistently growing on a yearly basis we are at a current situation in which we require some funding to help our working capital. We are already projected to turnover 1 million pounds worth of building works this year and still have more quotes/meetings to book in further. With the current market and Wales new Government Launch within Wales we are looking to expand further.

Read more

Loan Offers

What is the loan for?

The loan will help our working capital. We require materials for various jobs as the initial outlay for most jobs is greater than during the period of works. We have a large number of projects starting at the same time and as such, this funding will be used for additional cashflow to help to purchase materials to allow work to start on our upcoming projects.

Why consider investing?

IB Contractors has great working relationships with clients and suppliers and many can give an excellent reference confirming our work and professionalism. We are consistently growing and moving with the current markets of the building industry.

Disclosure

This application was assessed based on VAT returns which were provided instead of Management Accounts. During our underwriting process, the applicant supplied a P&L account to December 2018 which they keep as Management Information. This attachment has been uploaded to the listing for lenders to review and download for illustrative purposes, however please bear in mind that: 1) This P&L has not been assessed by our underwriting team; and 2) We have not seen the corresponding Balance Sheet

Security

This loan is to be secured by way of a Personal Guarantee from the sole director, Mr Idris Kahn.

Mr Khan has an estimated net worth of £1.5m. This is derived from his ownership of a property portfolio comprising of 8 properties. These properties have a combined estimated value of £3.9m and £1.6m estimated equity.

DateAmountCapitalInterestReceived
30/03/2019£678.00£252.85£425.15
30/04/2019£678.00£257.04£420.96
30/05/2019£678.00£261.30£416.70
30/06/2019£678.00£265.63£412.37
30/07/2019£678.00£270.04£407.96
30/08/2019£677.96£274.51£403.49Not Due
30/09/2019£677.96£279.06£398.94Not Due
30/10/2019£677.96£283.69£394.31Not Due
30/11/2019£677.96£288.39£389.61Not Due
30/12/2019£677.96£293.17£384.83Not Due
30/01/2020£677.96£298.03£379.97Not Due
01/03/2020£677.96£302.97£375.03Not Due
30/03/2020£677.96£307.99£370.01Not Due
30/04/2020£677.96£313.10£364.90Not Due
30/05/2020£677.96£318.28£359.71Not Due
30/06/2020£677.96£323.56£354.44Not Due
30/07/2020£677.96£328.92£349.08Not Due
30/08/2020£677.96£334.38£343.62Not Due
30/09/2020£677.96£339.92£338.08Not Due
30/10/2020£677.96£345.55£332.45Not Due
30/11/2020£677.96£351.28£326.72Not Due
30/12/2020£677.96£357.10£320.90Not Due
30/01/2021£677.96£363.02£314.98Not Due
02/03/2021£677.96£369.04£308.96Not Due
30/03/2021£677.96£375.15£302.84Not Due
30/04/2021£677.96£381.37£296.63Not Due
30/05/2021£677.96£387.69£290.31Not Due
30/06/2021£677.96£394.12£283.88Not Due
30/07/2021£677.96£400.65£277.35Not Due
30/08/2021£677.96£407.29£270.71Not Due
30/09/2021£677.96£414.04£263.96Not Due
30/10/2021£677.96£420.91£257.09Not Due
30/11/2021£677.96£427.88£250.12Not Due
30/12/2021£677.96£434.98£243.02Not Due
30/01/2022£677.96£442.19£235.81Not Due
02/03/2022£677.96£449.51£228.48Not Due
30/03/2022£677.96£456.97£221.03Not Due
30/04/2022£677.96£464.54£213.46Not Due
30/05/2022£677.96£472.24£205.76Not Due
30/06/2022£677.96£480.07£197.93Not Due
30/07/2022£677.96£488.02£189.98Not Due
30/08/2022£677.96£496.11£181.89Not Due
28/09/2022£677.96£504.34£173.66Not Due
28/10/2022£677.96£512.69£165.30Not Due
28/11/2022£677.96£521.19£156.81Not Due
28/12/2022£677.96£529.83£148.17Not Due
28/01/2023£677.96£538.61£139.39Not Due
28/02/2023£677.96£547.54£130.46Not Due
28/03/2023£677.96£556.62£121.38Not Due
28/04/2023£677.96£565.84£112.16Not Due
28/05/2023£677.96£575.22£102.78Not Due
28/06/2023£677.96£584.76£93.24Not Due
28/07/2023£677.96£594.45£83.55Not Due
28/08/2023£677.96£604.30£73.70Not Due
28/09/2023£677.96£614.32£63.68Not Due
28/10/2023£677.96£624.50£53.50Not Due
28/11/2023£677.96£634.85£43.15Not Due
28/12/2023£677.96£645.37£32.63Not Due
28/01/2024£677.96£656.07£21.93Not Due
28/02/2024£677.96£666.94£11.05Not Due
Total:£25,650.00£15,029.96