La Drape International Limited

Manufacturing

Funds Requested

£120,000.00

Offered so far

£0.00

Loan term

60 MONTHS

Auction Closed

2015-06-01

Thank you for stopping by...
This loan is now passed its deadline, lender funds will soon be released.

About the Business

Company Name: La Drape International Limited Company Number: 07073059
Business Type: Manufacturing Years Trading: 4-5 years
Business Location: PRESTON BROOK

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

1st Charge Residential Property

Est. Equity: 0.00

All Assets Debenture

Est. Equity: 0.00

2nd Charge Commercial Property

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

New 'Transfer Bids' available for use on this loan! If you already hold a Microloan for La Drape's previous loan, you can transfer your capital on that loan across to this new loan request. Visit Your

La Drape International Ltd continues to innovate quilted bedspread design and manufacture, leading the field for almost 20 years, supplying major hotel groups, cruise ships and interior designers internationally.

Our directors hail from Interior Design backgrounds and we believe this helps us fully understand our customers requirements and allows us to exceed their expectations. We recognise that Designers and Project Managers often like to source their own fabrics in order to create a specific vibe for a project. We provide an efficient and professional service to help them realise their vision and we have an extensive network of contacts that we can call upon to source fabrics for customers should the need arise.

We are highly flexible and pride ourselves on our ability to go the extra mile for our customers whatever their size or nature of their business. We can produce bedspreads in a whole range of sizes with anything from a small throw to Emperor size bedspreads all at highly competitive prices.

The quality and attention to detail within our products is superb with panels being joined before quilting to ensure both stitching styles and fabric patterns work in harmony. This also improves the durability of the product which is a key consideration for end users.

We have a range of standard stitching styles and we can also produce bespoke styles to add a flavour of individuality to your projects.

Our continued success stems from a strong desire to work closely with our customers producing products that really hit the mark and add value to the projects you are working on.

From bespoke bed spreads to uniquely designed soft furnishings; we can tailor high quality products to suit your established aesthetic. Some of the bespoke services we provide include;

Traditional & Contemporary Soft Furnishings;

•Bed Spreads

•Cushions

•Bolsters

•Curtains

•Fillings & Linings

Thanks for your interest in and previous support of our organisation and we look forward to building a positive relationship with you.

Read more

Loan Offers

What is the loan for?

We are always growing and now our business is bigger than ever. We need to improve our income by reinvesting in to new ventures. Last year we successfully raised a loan from the lenders of rebuildingsociety.com to improve our turnover through the purchase of new equipment and improvemnet of facilities.

We want to grow the existing business by around 100% based on the experience and projects we are successfully completing in various sectors. Targeting the bigger more specialist and profitable project that the team has proved it can do.

We have already purchased a second quilting machine which is newer than the one we currently use.

Initially we need to upgrade our existing storage area and make it a well lit production area with modern storage facilities. See drawings attached.

We need to buy new plotting equipment to plug into the 2nd machine – we wish to leave our current one less sophisticated to do very precise small hand programmed stitching which is essential to certain customers

This will be linked to a new computer network server and allow update of the database and accounting system.

We need to be getting our websites up to date getting rid of “flash” as it can’t be used on Apps, we need to load many new images which show the level and expertise across various markets. The design director has been travelling around finished projects so these images are already to hand and will not incur any further costs. We have not promoted the business for a couple of years and have a database of worldwide interior designer consultants and architects this marketing will grow the business within our speciality niche market.

Our Specialities:

• Simple Stitching for upholstery onto leather or faux leather diamonds, car seats and any logos – this work is only on the quilting machine and then trimmed by hand. Market is generally UK seating or upholstery maker supply only

• Stitching designs on to silks, leather, and faux in very great detail – copying designs and repeating them to designers’ specification. Market worldwide completed installations, Mandarin Oriental Taipei, Lutraki Casino Greece, Peninsular Hotel Paris, Ritz Carlton Macau – this for 5* Hotels this is supply only. Client for some is Helen Amy Murray.

• Stitching and making of bedspreads and bed throws for Interior Designers, Major Hotel Groups and Independent Hoteliers. Principle Hayley, Q Hotels, St Pancras, W Leicester Sq, St Ermins. The George of Stamford.

• Supplying and install bespoke stitched panels, exclusive specialist leathers or fabrics to wall, horsehair and shagreen finishes to wardrobe doors, fire doors, bedhead walls – generally installed on Fabrilok exclusive import from Calgary Canada manufacture. One Hyde Park, Carlton Gardens, County Hall Moquettes and 26 St James Place Mayfair,

• Make up of related goods to go with bedspreads and throws, detailed bespoke cushions using very expensive fabrics and trimmings and run of the mill quantity production, lined and interlined bed valances for Penthouse installations in London for CEOs apartments in London Ebury Square currently 4 apartments on Kensington High Street (Berkeley Homes)

• Padded plain and stitched media walls branded property marketing receptions at the high end (London Sq Fulham and 261 City Road) and upholstery onto MDF panelling.

• Make up of handmade soft curtains and blinds for local interior designers and London interior designers - all hand sewn in designer silks with complicated trims and details fitting and dressing on site Hawthorn Hall Wilmslow the Old Rectory Gawsworth, footballers of course!

• Low margin high volume mass production for Large National & International Hotel Brands. Also work for Care Homes, curtain making for most of Oxford University and Eton.

We successfully completed the installation of bespoke designed Wind and Water VIP lounges at the Foster Architects designed SSE Hydro Arena on Clydebank Glasgow with every single panel different – image attached.

Our aim is to build on stitching and installation part of the business by employing and training people over the next 12 – 18 depending on the speed of growth. We can manage this by how we price projects cherry picking the most suitable ones if we are inundated.

We have had some success with retail fit outs and did a Shoe Shop for Manolo Blahnik and Nicole Farhi and Sue has a target of this market. Additionally we are doing a 1200 printed flyer mailshot followed by 4 monthly emails to prop buyers for the film and TV industry this is in conjunction with Bernard Kay who provides the Directory and the network.

We are also interacting in marketing with a specialist leather company based in London who have other expertise which will combined give us both new markets. They can meet designers with live projects with no travel involved. We have been invited to do a presentation to the European arm of “Relais & Chateaux” after submitting samples of our products

We undertook an international worldwide roll out for Van Cleef and Arpels window dressing for Helen Amy Murray – we have recently programmed and run a sample bedroom for both headboards and TV wall feature for Helen for a Ritz Carlton Hotel in China and expect to be receiving the order in around 8-10 weeks time. This will keep one machine busy for 10 months. This project has been sampled over a 9 month period.

Costings:-

Conversion of storage to production facility £35,000

Create modern storage facility £18,000

Plotting equipment £20,000

Refurbish original machine £12,000

Develop website £14,000

Promotion campaign £15,000

Upgrade IT £16,000

Refurbishment of machining area £12,000

Two new machining work stations £5,000

Total £147,000

Why consider investing?

We have got through the recession and retained our asset base and reputation.

We have a stellar repayment record with rebuildingsociety and have managed to use the loan previously provided to grow and develop our business further. We hope that this record and trust we have built with you as lenders will allow you to once again place your trust in us.

Security

The loan is to be secured on directors guarantees and an equitable charge over the commercial property and an All Assets debenture

The directors have an estimate combined net worth of £300k, through ownership of a property with an estimate value of £370k and equity of £300k

The equitable charge will be placed on the Commercial property with an estimate value of £1,065,000 and approximate equity of £573,370

DateAmountCapitalInterestReceived
03/07/2015£3,144.65£1,196.65£1,948.00 (12 days late)
15/08/2015£3,144.65£1,216.07£1,928.57
15/09/2015£3,144.65£1,235.81£1,908.83
15/10/2015£3,144.65£1,255.87£1,888.77 (15 days late)
15/11/2015£3,144.65£1,276.26£1,868.39 (17 days late)
15/12/2015£3,144.65£1,296.98£1,847.67 (6 days late)
15/01/2016£3,144.65£1,318.03£1,826.61 (17 days late)
15/02/2016£1,783.47£0.00£1,783.47Interest only
15/03/2016£3,144.65£1,339.43£1,805.22
15/04/2016£1,361.17£1,361.17£0.00
15/05/2016£1,383.27£1,383.27£0.00
15/06/2016£1,405.72£1,405.72£0.00
15/07/2016£1,428.54£1,428.54£0.00
15/08/2016£1,451.73£1,451.73£0.00
15/09/2016£1,475.30£1,475.30£0.00
15/10/2016£1,499.25£1,499.25£0.00
15/11/2016£1,523.59£1,523.59£0.00
15/12/2016£1,548.32£1,548.32£0.00
15/01/2017£1,573.45£1,573.45£0.00
15/02/2017£1,599.00£1,599.00£0.00
15/03/2017£1,624.95£1,624.95£0.00
15/04/2017£1,651.33£1,651.33£0.00
15/05/2017£1,678.14£1,678.14£0.00
15/06/2017£1,705.38£1,705.38£0.00
15/07/2017£1,733.06£1,733.06£0.00
15/08/2017£1,761.20£1,761.20£0.00
15/09/2017£1,789.79£1,789.79£0.00
15/10/2017£1,818.84£1,818.84£0.00
15/11/2017£1,848.37£1,848.37£0.00
15/12/2017£1,878.37£1,878.37£0.00
15/01/2018£1,908.86£1,908.86£0.00
15/02/2018£1,939.85£1,939.85£0.00
15/03/2018£1,971.34£1,971.34£0.00
15/04/2018£2,003.34£2,003.34£0.00
15/05/2018£2,035.86£2,035.86£0.00
15/06/2018£2,068.91£2,068.91£0.00
15/07/2018£2,102.50£2,102.50£0.00
15/08/2018£2,136.63£2,136.63£0.00
15/09/2018£2,171.31£2,171.31£0.00
15/10/2018£2,206.56£2,206.56£0.00
15/11/2018£2,242.38£2,242.38£0.00
15/12/2018£2,278.78£2,278.78£0.00
15/01/2019£2,315.78£2,315.78£0.00
15/02/2019£2,353.37£2,353.37£0.00
15/03/2019£2,391.57£2,391.57£0.00
15/04/2019£2,430.39£2,430.39£0.00
15/05/2019£2,469.85£2,469.85£0.00
15/06/2019£2,509.94£2,509.94£0.00
15/07/2019£2,550.69£2,550.69£0.00
15/08/2019£2,592.09£2,592.09£0.00
15/09/2019£2,634.17£2,634.17£0.00
15/10/2019£2,676.93£2,676.93£0.00
15/11/2019£2,720.39£2,720.39£0.00
15/12/2019£2,764.55£2,764.55£0.00
15/01/2020£2,809.43£2,809.43£0.00
15/02/2020£2,855.03£2,855.03£0.00
15/03/2020£2,901.38£2,901.38£0.00
15/04/2020£2,948.48£2,948.48£0.00
15/05/2020£2,996.34£2,996.34£0.00
15/06/2020£3,044.98£3,044.98£0.00
15/07/2020£3,094.41£3,094.41£0.00
Total:£120,000.00£16,805.53