Funds Raised


Final AER


Loan term


Auction Closed


Micro Loan Opportunities
Buy Capital Seller's
Price Buyer's
£91.79 +12.99% £103.72 9.00%
£91.79 +15.00% £105.56 8.16%
£9.18 +15.00% £10.56 8.16%

About the Business

Company Name: JORVIK REMOVALS & SELF STORAGE LTD Company Number: 10377999
Business Type: TRANSPORTATION AND STORAGE Years Trading: 2-3 years
Business Location: York

About the Risk

Risk rating


Default rate


Bad debt rate


About the Security

Security Offered:

2nd Charge on Commercial Property - A legal second priority charge on the commercial premises being purchased

Est. Equity: 160000.00

Personal Guarantee - PG from Melvyn Hughes

Est. Equity: 0.00

Personal Guarantee - PG from Melissa Hughes

Est. Equity: 0.00

Risk Indicators Identified:

May not produce Management Accounts
This company may not prepare management accounts on a regular basis
Notable Dividends Taken
More than 50% of Net Profit has been taken as dividends within at least one of the assessed periods
Low Liquidity
This business has a lower than average ratio of liquid assets to current liabilities

Important Files

Who are we?

This loan has benefited from a 5% reduction in the starting interest rate, due to the security offered in support of the loan. Find out more Here.

Jorvik Removals and Self Storage Ltd is a family owned removals and storage business with over 70 years experience handed down from father to son over 3 generations.

Now owned by husband and wife team Melvyn and Melissa the business has grown to be a well known and respected York company.

The business is growing year on year and owning our own premises will give us the springboard to further growth across Yorkshire. Self-storage is a growing sector as we seek to de-clutter our lives but without losing those items which have been passed down to us or which we’ll need in the future.

Jorvik Removals and Self Storage offers local storage at a competitive rate, they have expert staff and transportation to collect even the bulkiest items of furniture with ease and care.

Read more

Loan Offers

What is the loan for?

We are looking for a contribution of £28,000 plus fees from ReBS lenders to go towards the purchasing of our commercial premises.

We’ve been given the opportunity to purchase the property we currently rent at a reduced price. Although these things never come at the right time (we’ve just invested in two vans!) it’s an opportunity too good to miss and will allow us to further build the business.

The total price for the property is £X. Along with the £28,000 sought from ReBS, £180,000 has been offered from a bridging company and the remaining consideration will be met from the personal funds of the directors.

The current rent comes to £1,800 per month. Even in the short-term, the aggregate payments of the bridge and the ReBS loan will represent a monthly saving to the business of around £200 per month.

Further, we anticipate being able to remortgage the property onto a term loan within a 6-12 month period which will repay this loan in full. The business already fits the lending criteria for a number of commercial mortgage lenders through the Acorn Finance lending panel, but as the property has been bought at undervalue they cannot fund the initial purchase.

Why consider investing?

Jorvik Removals and Storage Ltd is a great local business, growing in a sustainable way. Our turnover is growing year on year and owning our own premises will give us greater security, allow us better access to future financial products for vehicle and equipment finance thus helping us to accelerate our growth. The loan will be secured by a second charge over our business premises to provide confidence and additional security.

There is also further potential within the property with office space which has been unused during the lease. This constitutes around 1/4 of the whole property and under the terms of the lease, this is unable to be sublet. This space will be sublet as office in the short term allowing the business to grow into the space as demand dictates.


This loan will be secured by a Personal Guarantee from the two directors, and a legal charge over the commercial property being purchased.

A Personal Guarantee will be provided by each of the two directors - husband and wife Melvyn and Melissa Hughes. Mr and Mrs Hughes are not homeowners, and have a negligible estimated net worth.

A legal charge will also be taken as security for this loan. A second priority legal charge will be taken over the commercial premises being purchased with the loan proceeds. The property has an estimated market value of £340,000. There will be a first priority charge created in favour of the bridging company with £180,000 outstanding. Therefore our second charge will capture the remaining equity, estimated to be £160,000. A full professional valuation report is attached to the listing for the perusal of lenders.

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