Northern Civils Groundworks Limited

Construction

Funds raised

£27,500.00

Offered so far

£0.00

Loan term

60 MONTHS

Deadline

2015-11-12

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This loan is now passed its deadline, lender funds will soon be released.

About the Business

Company Name: Northern Civils Groundworks Limited Company Number: 07246245
Business Type: Construction Years Trading: 4-5 years
Business Location: YEADON

About the Risk

Risk rating

C

Default rate

14.10%

Bad debt rate

5.04%

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 - Done (PG from director and majority shareholder)

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Northern Civils Groundworks Limited is a well established groundworks and highways maintenance company contracted into various local authorities in Yorkshire, most notably Bradford and Calderdale councils.

The company was formed by brothers, Lee and Neil Jones in 2010.

Read more

Loan Offers

What is the loan for?

The company seek a loan of £27500.

Part of this loan will be used to repay an £8500 loan arranged through Ezbob four months or so ago. These funds, originally £11K, were used to settle an outstanding HMRC bill and, whilst we can continue to repay the contracted payment of approximately £1000 per month over the residual 13 months, the rate is high at 30% per annum and with no early repayment penalty, the company would prefer to switch the borrowing onto a longer term at a finer rate.

Additional funds are required to help fund continued growth. As workflow through Bradford and Calderdale councils has increased, there has been an impact on the working capital requirement.

Why consider investing?

The company has a solid reputation with their customers.

They have continued to grow through the recession in spite of local authority cut backs and the directors feel well placed to take advantage of opportunities to grow the work they do through both councils, direct and sub contracted through Amey, with the benefit of additional working capital.

The directors recognise that the business has been run historically as an income source for the two brothers rather than generating sizeable reserves but it is the directors' intention to remedy that going forward with profits to be retained within the business to fund its growth in the future.

Neither director owns their own property and it is recognised that lenders will seek the comfort of a first debenture over the company's assets to provide security as well as the Directors' PGs.

The debenture picks up plant and equipment, owned unencumbered valued at approximately £30K together with the debtor book which fluctuates from £20K or so in summer to £50K or thereabouts in winter, the latter reflecting gritting activities particularly. All outstanding debt is paid within 30 days term with the company's sub contractors being paid on a weekly basis.

Security

The loan is to be secured by way of 2 director guarantees (supported by Personal Guarantee Insurance) as well as an all assets debenture.

Neither Director is a property owner and do not own any other personal assets.

DateAmountCapitalInterestReceived
28/11/2015£646.31£315.16£331.15
28/12/2015£646.31£318.96£327.35
28/01/2016£646.31£322.80£323.51
28/02/2016£646.31£326.69£319.62
28/03/2016£646.31£330.62£315.69
28/04/2016£646.31£334.60£311.71
28/05/2016£646.31£338.63£307.68
28/06/2016£646.31£342.71£303.60 (6 days late)
28/07/2016£646.31£346.84£299.47
28/08/2016£646.31£351.01£295.30 (12 days late)
28/09/2016£646.31£355.24£291.07
28/10/2016£24,102.99£23,816.23£286.75
28/11/2016£0.00£0.00£0.00
28/12/2016£0.00£0.00£0.00
28/01/2017£0.00£0.00£0.00
28/02/2017£0.00£0.00£0.00
28/03/2017£0.00£0.00£0.00
28/04/2017£0.00£0.00£0.00
28/05/2017£0.00£0.00£0.00
28/06/2017£0.00£0.00£0.00
28/07/2017£0.00£0.00£0.00
28/08/2017£0.00£0.00£0.00
28/09/2017£0.00£0.00£0.00
28/10/2017£0.00£0.00£0.00
28/11/2017£0.00£0.00£0.00
28/12/2017£0.00£0.00£0.00
28/01/2018£0.00£0.00£0.00
28/02/2018£0.00£0.00£0.00
28/03/2018£0.00£0.00£0.00
28/04/2018£0.00£0.00£0.00
28/05/2018£0.00£0.00£0.00
28/06/2018£0.00£0.00£0.00
28/07/2018£0.00£0.00£0.00
28/08/2018£0.00£0.00£0.00
28/09/2018£0.00£0.00£0.00
28/10/2018£0.00£0.00£0.00
28/11/2018£0.00£0.00£0.00
28/12/2018£0.00£0.00£0.00
28/01/2019£0.00£0.00£0.00
28/02/2019£0.00£0.00£0.00
28/03/2019£0.00£0.00£0.00
28/04/2019£0.00£0.00£0.00
28/05/2019£0.00£0.00£0.00
28/06/2019£0.00£0.00£0.00
28/07/2019£0.00£0.00£0.00
28/08/2019£0.00£0.00£0.00
28/09/2019£0.00£0.00£0.00
28/10/2019£0.00£0.00£0.00
28/11/2019£0.00£0.00£0.00
28/12/2019£0.00£0.00£0.00
28/01/2020£0.00£0.00£0.00
28/02/2020£0.00£0.00£0.00
28/03/2020£0.00£0.00£0.00
28/04/2020£0.00£0.00£0.00
28/05/2020£0.00£0.00£0.00
28/06/2020£0.00£0.00£0.00
28/07/2020£0.00£0.00£0.00
28/08/2020£0.00£0.00£0.00
28/09/2020£0.00£0.00£0.00
28/10/2020£0.00£0.00£0.00
Total:£27,499.49£3,712.90