Integral It Services Limited

Investment Requests for Funds Required to Build Cloud Hosting Platform

Overview
Funds raised
£25,000
Final AER
15.50%
Loan Term
60
Completed:
12/11/2017
About the Business
Company Name: INTEGRAL IT SERVICES LIMITED Company Number: 05837913
Business Type: INFORMATION AND COMMUNICATION Years Trading: More than 10 years
Business Location: Harrogate
About the Risk
Risk Rating: B

Default rate

7.1%

Bad debt rate

5.84%

Risk Indicators
Identified:
Low Security Coverage
The security offered on this loan is below desirable levels
About the Security
Security Offered:
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All Assets Debenture - Fixed and floating charge over all assets of the company
Est. Equity: £0.00

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Personal Guarantee - PG from director, Mr Jonathan Edwards
Est. Equity: £0.00

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Personal Guarantee - PG from third party guarantor, Mrs Edwards
Est. Equity: £215000.00

Important Files
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Who are we?

Visit our Website

Integral IT has raised money through rebuildingsociety.com previously. You can view their original loan application here

Our business provides IT consultancy and locally based cloud services to customers with between 5-150 IT users. We're now in our 11th year of trading and our business grows each year. We're now heavily involved in providing cloud services to customers.

READ MORE...

Details

Who are we?

Visit our Website

Integral IT has raised money through rebuildingsociety.com previously. You can view their original loan application here

Our business provides IT consultancy and locally based cloud services to customers with between 5-150 IT users. We're now in our 11th year of trading and our business grows each year. We're now heavily involved in providing cloud services to customers.

READ MORE...

Five years ago we built a cloud platform which we sell to our customers. The platform now needs to be replaced with something bigger and more recent in order to cope with new demand. We've had orders recently which will represent a significant increase in turnover and profits.

Part of the funds raised through ReBS will also be used to redeem an existing loan.

Loan Offers
Business Profile

What is the loan for?

Five years ago we built a cloud platform which we sell to our customers. The platform now needs to be replaced with something bigger and more recent in order to cope with new demand. We've had orders recently which will represent a significant increase in turnover and profits.

Part of the funds raised through ReBS will also be used to redeem an existing loan.

Why consider investing?

We're a previous customer of Rebuilding Society. The first finance we got paid for our last cloud solution and our payment history was spotless.

Cloud services is growing so fast. Every business needs IT and more businesses are now using cloud IT. We want to build on the solid foundation we have created.

Security

This loan is to be secured by a Personal Guarantee provided by sole director Mr Jonathan Edwards, a third-party guarantee provided by Mrs Karen Edwards and an All Asset Debenture over the applicant company.

Mr Edwards will be providing a personal guarantee, but as he is not a property owner, a third party guarantee will also be provided from Mrs K Edwards. Mrs Edwards owns a property with an estimated value of £250,000 and an estimated £225,000 equity.

In addition to the PGs, an all assets debenture will be taken over the business. This will create a first priority fixed and floating charge over all assets of the business. Whilst there are no fixed assets lists in the most recent filed accounts, there are net current assets of approximately £78,000 (as 30 September 2017) and £40,583 shareholder funds.

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