Learning spaces school interior design ltd

Building Services

Funds Raised

£40,000.00

Final AER

19.21%

Loan term

60 MONTHS

Auction Closed

2016-03-15

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.

About the Business

Company Name: Learning spaces school interior design ltd Company Number: 8437491
Business Type: Building Services Years Trading: 2-3 years
Business Location: Harlow

About the Risk

Risk rating

C

Default rate

13.00%

Bad debt rate

5.33%

About the Security

Security Offered:

All Assets Debenture - Fixed and floating charge created over all assets of applicant company

Est. Equity: 0.00

Personal Guarantee - PG from Mr Stevens

Est. Equity: 0.00

Personal Guarantee Insurance - PGI with ReBS named as beneficiary

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Visit Our Website

Learning Spaces is a unique company. We design and install exciting and engaging 'Wow!' factor teaching and learning environments in Primary and Secondary schools across the UK, paying particular attention to IT enabled Learning Resource centres and Libraries to enhance and improve all important literacy and general education to our school clients. Schools need to constantly improve in line with government /OFSTED guidelines and are therefore compelled to work with companies who can help them do this. The clients comprise State and Privately funded schools: a very large and untapped market across the whole of the UK. Currently the only challenge is not being able to cope with demand and therefore we wish to grow the business over the next 2 years and to maximise the opportunities available. We feel as though, whilst generating good income, we are still only scratching the surface of the potential that is out there.

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Loan Offers

What is the loan for?

The Loan is for a number of reasons, including to pay off the outstanding high interest rate/ short term loan with Ezbob. The outstanding amount is £18,464.00. An additional £15,000 will be used to attend a 3 day trade show ‘The Education Show’, which runs from 17-19th March 2016, to generate business for the company as well as investing in a marketing campaign associated with the show and the attendees. We anticipate that this activity will generate a minimum of £30,000 profit within 6 months. Annual Delivery of furniture and solutions is expensive for the company and therefore £7000 will be used to purchase a good quality vehicle. The company desperately needs new IT equipment/ software which will cost £2000. The outstanding £7500 will be used as general cashflow for the company considering the increase in business.

Why consider investing?

The company is a unique business with a fantastic reputation across the education market in the UK built up over the Director's 14 years of trading. It has a solid business model with a Public client base which ensures no issues with bad debts. The company will generate in excess of £550,000 in revenue with £100,000 in net profit in the forthcoming year alone and is therefore a safe and secure business. The business intends to grow in revenue and staff year on year which would entail secure and repeat business for the lender.

Security

The loan is to be secured by way of a Personal Guarantee provided from the Director of the company and an All Assets Debenture. As the Director is not a home owner, and as a result has a limited estimated net-worth, the Personal Guarantee is also to be supported by Personal Guarantee Insurance.

DateAmountCapitalInterestReceived
15/04/2016£1,042.25£401.92£640.33
15/05/2016£1,042.25£408.35£633.90
15/06/2016£1,042.25£414.89£627.36
15/07/2016£1,042.25£421.53£620.72
15/08/2016£1,042.25£428.28£613.97
15/09/2016£607.12£0.00£607.12Interest only
15/10/2016£607.12£0.00£607.12Interest only
15/11/2016£1,042.25£435.13£607.121036 days overdue
15/12/2016£1,042.25£442.10£600.151006 days overdue
15/01/2017£1,042.25£449.18£593.07975 days overdue
15/02/2017£1,042.25£456.37£585.88944 days overdue
15/03/2017£1,042.25£463.67£578.58916 days overdue
15/04/2017£1,042.25£471.09£571.16885 days overdue
15/05/2017£1,042.25£478.64£563.61855 days overdue
15/06/2017£1,042.25£486.30£555.95824 days overdue
15/07/2017£1,042.25£494.08£548.17794 days overdue
15/08/2017£1,042.25£501.99£540.26763 days overdue
15/09/2017£1,042.25£510.03£532.22732 days overdue
15/10/2017£1,042.25£518.19£524.06702 days overdue
15/11/2017£1,042.25£526.49£515.76671 days overdue
15/12/2017£1,042.25£534.92£507.33641 days overdue
15/01/2018£1,042.25£543.48£498.77610 days overdue
15/02/2018£1,042.25£552.18£490.07579 days overdue
15/03/2018£1,042.25£561.02£481.23551 days overdue
15/04/2018£1,042.25£570.00£472.25520 days overdue
15/05/2018£1,042.25£579.13£463.12490 days overdue
15/06/2018£1,042.25£588.40£453.85459 days overdue
15/07/2018£1,042.25£597.82£444.43429 days overdue
15/08/2018£1,042.25£607.39£434.86398 days overdue
15/09/2018£1,042.25£617.11£425.14367 days overdue
15/10/2018£1,042.25£626.99£415.26337 days overdue
15/11/2018£1,042.25£637.02£405.23306 days overdue
15/12/2018£1,042.25£647.22£395.03276 days overdue
15/01/2019£1,042.25£657.58£384.67245 days overdue
15/02/2019£1,042.25£668.11£374.14214 days overdue
15/03/2019£1,042.25£678.81£363.44186 days overdue
15/04/2019£1,042.25£689.67£352.58155 days overdue
15/05/2019£1,042.25£700.71£341.54125 days overdue
15/06/2019£1,042.25£711.93£330.3294 days overdue
15/07/2019£1,042.25£723.33£318.9264 days overdue
15/08/2019£1,042.25£734.91£307.3433 days overdue
15/09/2019£1,042.25£746.67£295.582 days overdue
15/10/2019£1,042.25£758.62£283.63Not Due
15/11/2019£1,042.25£770.77£271.48Not Due
15/12/2019£1,042.25£783.11£259.14Not Due
15/01/2020£1,042.25£795.64£246.61Not Due
15/02/2020£1,042.25£808.38£233.87Not Due
15/03/2020£1,042.25£821.32£220.93Not Due
15/04/2020£1,042.25£834.47£207.78Not Due
15/05/2020£1,042.25£847.83£194.42Not Due
15/06/2020£1,042.25£861.40£180.85Not Due
15/07/2020£1,042.25£875.19£167.06Not Due
15/08/2020£1,042.25£889.20£153.05Not Due
15/09/2020£1,042.25£903.43£138.82Not Due
15/10/2020£1,042.25£917.90£124.35Not Due
15/11/2020£1,042.25£932.59£109.66Not Due
15/12/2020£1,042.25£947.52£94.73Not Due
15/01/2021£1,042.25£962.69£79.56Not Due
15/02/2021£1,042.25£978.10£64.15Not Due
15/03/2021£1,042.25£993.76£48.49Not Due
15/04/2021£1,042.25£1,009.66£32.59Not Due
15/05/2021£1,042.25£1,025.83£16.42Not Due
Total:£40,000.01£23,749.23