KADCO FASHION & TEXTILES LTD

WHOLESALE AND RETAIL TRADE INCLUDING REPAIR OF MOTOR VEHICLES

Funds Raised

£105,000.00

Final AER

18.92%

Loan term

60 MONTHS

Auction Closed

2018-12-20

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£91.45 +2.50% £93.74 17.70%
£45.73 +2.50% £46.87 17.70%
£9.15 +2.49% £9.37 17.70%
£18.29 +3.45% £18.92 17.22%
£9.15 +3.49% £9.46 17.20%

About the Business

Company Name: KADCO FASHION & TEXTILES LTD Company Number: 08133224
Business Type: WHOLESALE AND RETAIL TRADE INCLUDING REPAIR OF MOTOR VEHICLES Years Trading: 5-10 years
Business Location:

About the Risk

Risk rating

C

Default rate

13.00%

Bad debt rate

5.33%

About the Security

Security Offered:

Personal Guarantee - PG from Samir Kader

Est. Equity: 0.00

Personal Guarantee - PG from Sabra Kader

Est. Equity: 1000000.00

Debenture - First priority all assets debenture over the applicant business

Est. Equity: 27248.96

Corporate Guarantee - Corporate guarantee from the parent company, KADCO GROUP HOLDINGS LTD

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
Below Average Business Credit Rating
A 3rd party credit rating agency has indicated that this business is above average risk.
Low Quick Ratio Score
The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet its short-term obligations with its most liquid assets
Low Liquidity
This business has a lower than average ratio of liquid assets to current liabilities
Satisfied CCJs
The business has incurred County Court Judgements in the past. Whilst now satisfied, this can still be indicative of poor creditor management

Important Files

Who are we?

Kadco has raised money through rebuildingsociety.com previously. This new loan will be used to refinance the old loan. If you currently have Capital Outstanding on the existing loan you can transfer this to the new application, by making use of Transfer Bids.

Visit the existing loan here

Bombay Stores Retail is a 51 year old business, and the UK’s largest Asian and Multicultural Department Store. We specialise in the retail of Wedding garments for ladies, gents, kids, footwear, jewellery, handbags, loose textiles and much more. Based in Bradford at our 30,000 square ft premises, we thrive to ensure that we offer as much variety in our products as possible under one roof.

Read more

Loan Offers

What is the loan for?

We are looking to ease cash flow by consolidating some of our debts into this loan, allowing us the ability to fund growth through our own cash flow. Currently we have £110k worth of debts which account for £12.2k worth of monthly repayments. By consolidating all of these, it would reduce the payments against these loans from £12.2k a month to a simple repayment of this new loan only of approx. £3.2k a month, giving us an extra £9k per month in our cash flow automatically. The remaining capital raised would also give us a small buffer in our cash flow, allowing us the space to renovate during the Christmas period and get ready for our upcoming season.

Why consider investing?

We are a 51 year old business, and have grown from strength to strength over the past few years. Our sales are increasing year on year at the moment, and the future looks good to grow even further, with a lot of new opportunities with our loose textiles department, namely increasing in our craft, cotton and dress fabric ranges. This also proves itself to be a lot more profitable, and we are confident that ongoing this growth will improve margins in the business as well.

Security

This loan will be secured by way of Personal Guarantees from the directors and an All Assets Debenture.

Personal Guarantees will be provided by the two directors, Mr Samir Kader and Ms Sabra Kader. Mr Samir Kader is not a homeowner and has a negligible estimated net worth. Ms Kader has an estimated net worth of £1m derived from her ownership of two residential properties and one commercial property. The residential properties have an estimated value of £600,000 and £650,000 respectively (based on online estimates). The commercial property, which is the location this business trades from, has an estimated value of £1.9m. The three properties have a combined estimated equity of £1m.

An All Assets Debenture will also be taken over the business. This will create a first priority fixed and floating charge over all assets of the business, replacing the existing charge in favour of the company's factoring facility. The charge will cover all of the assets of the company, primarily comprised of a debtor book with a total current balance of £97,315.78 and fixed assets that were valued in the 2017 filed accounts at a value of £38,929.

DateAmountCapitalInterestReceived
23/01/2019£2,718.97£1,063.72£1,655.25 (7 days late)
23/02/2019£2,718.97£1,080.49£1,638.48
23/03/2019£2,718.97£1,097.53£1,621.45
23/04/2019£2,718.97£1,114.83£1,604.15 (20 days late)
23/05/2019£2,718.97£1,132.40£1,586.57
23/06/2019£2,718.97£1,150.25£1,568.72
23/07/2019£2,718.97£1,168.39£1,550.59 (9 days late)
23/08/2019£2,718.97£1,186.80£1,532.17
23/09/2019£2,718.97£1,205.51£1,513.46Not Due
23/10/2019£2,718.97£1,224.52£1,494.46Not Due
23/11/2019£2,718.97£1,243.82£1,475.15Not Due
23/12/2019£2,718.97£1,263.43£1,455.54Not Due
23/01/2020£2,718.97£1,283.35£1,435.63Not Due
23/02/2020£2,718.97£1,303.58£1,415.40Not Due
23/03/2020£2,718.97£1,324.13£1,394.85Not Due
23/04/2020£2,718.97£1,345.00£1,373.97Not Due
23/05/2020£2,718.97£1,366.20£1,352.77Not Due
23/06/2020£2,718.97£1,387.74£1,331.23Not Due
23/07/2020£2,718.97£1,409.62£1,309.35Not Due
23/08/2020£2,718.97£1,431.84£1,287.13Not Due
23/09/2020£2,718.97£1,454.41£1,264.56Not Due
23/10/2020£2,718.97£1,477.34£1,241.63Not Due
23/11/2020£2,718.97£1,500.63£1,218.34Not Due
23/12/2020£2,718.97£1,524.28£1,194.69Not Due
23/01/2021£2,718.97£1,548.31£1,170.66Not Due
23/02/2021£2,718.97£1,572.72£1,146.25Not Due
23/03/2021£2,718.97£1,597.52£1,121.46Not Due
23/04/2021£2,718.97£1,622.70£1,096.27Not Due
23/05/2021£2,718.97£1,648.28£1,070.69Not Due
23/06/2021£2,718.97£1,674.26£1,044.71Not Due
23/07/2021£2,718.97£1,700.66£1,018.32Not Due
23/08/2021£2,718.97£1,727.47£991.51Not Due
23/09/2021£2,718.97£1,754.70£964.27Not Due
23/10/2021£2,718.97£1,782.36£936.61Not Due
23/11/2021£2,718.97£1,810.46£908.51Not Due
23/12/2021£2,718.97£1,839.00£879.97Not Due
23/01/2022£2,718.97£1,867.99£850.98Not Due
23/02/2022£2,718.97£1,897.44£821.54Not Due
23/03/2022£2,718.97£1,927.35£791.62Not Due
23/04/2022£2,718.97£1,957.73£761.24Not Due
23/05/2022£2,718.97£1,988.59£730.38Not Due
23/06/2022£2,718.97£2,019.94£699.03Not Due
23/07/2022£2,718.97£2,051.79£667.19Not Due
23/08/2022£2,718.97£2,084.13£634.84Not Due
23/09/2022£2,718.97£2,116.99£601.99Not Due
23/10/2022£2,718.97£2,150.36£568.61Not Due
23/11/2022£2,718.97£2,184.26£534.72Not Due
23/12/2022£2,718.97£2,218.69£500.28Not Due
23/01/2023£2,718.97£2,253.67£465.31Not Due
23/02/2023£2,718.97£2,289.19£429.78Not Due
23/03/2023£2,718.97£2,325.28£393.69Not Due
23/04/2023£2,718.97£2,361.94£357.04Not Due
23/05/2023£2,718.97£2,399.17£319.80Not Due
23/06/2023£2,718.97£2,436.99£281.98Not Due
23/07/2023£2,718.97£2,475.41£243.56Not Due
23/08/2023£2,718.97£2,514.43£204.54Not Due
23/09/2023£2,718.97£2,554.07£164.90Not Due
23/10/2023£2,718.97£2,594.34£124.64Not Due
23/11/2023£2,718.97£2,635.23£83.74Not Due
23/12/2023£2,718.97£2,676.78£42.20Not Due
Total:£105,000.00£58,138.39