Olympus Eyewear Europe Ltd

Agents specialized in the sale of other particular products

Funds Requested


Offered so far


Loan term


Auction Closed


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

About the Business

Company Name: Olympus Eyewear Europe Ltd Company Number: 8933434
Business Type: Agents specialized in the sale of other particular products Years Trading: 3-5 years
Business Location: Leicester

About the Risk

Risk rating


Default rate


Bad debt rate


About the Security

Security Offered:

Personal Guarantee - PG from Mr Barry Love

Est. Equity: 125000.00

Personal Guarantee - PG from Ms Susan Fisher, majority shareholder - £0 value assigned as a property charge is also being offered over her home

Est. Equity: 0.00

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

Est. Equity: 28272.40

All Assets Debenture - Fixed and floating charge over all assets of Olympus Eyewear Group Limited (08900758)

Est. Equity: 23733.00

Corporate Guarantee - Corporate Guarantee from Olympus Eyewear Group Limited (08900758) - £0 value assigned as a debenture is also offered over this company

Est. Equity: 0.00

Property Charge - Second priority legal charge over the home of Ms Fisher

Est. Equity: 95000.00

Risk Indicators Identified:

Below Average Business Credit Rating
A 3rd party credit rating agency has indicated that this business is above average risk.
Decreasing turnover
Recent financial reports indicate that this business has experienced declining turnover
Inter-company Loans
We have identified loans made from the applicant business to another connected company

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.

Olympus Eyewear Europe is a privately-owned spectacle frame distributor based in Leicester which was founded in 2014. The company’s product portfolio comprises of its own generic brands which are aimed at the middle market sector and the company commenced it sales to the independent opticians via several sales agents throughout the UK. Limited business has been conducted with major multiples when possible. Turnover increased quickly in the first two years to circa 175-200K, but growth has been hindered by the lack of further working capital to purchase stock against orders and pay up front for the product. The initial loan monies deposited in the company by directors and senior management was used to fund salesman’s sample sets, start up costs such as computers, accounting software, on line website and a secured purchasing portal. The growth during the infancy of the company was generated through the sales agents and senior management via face to face appointments with customers. The website, www.olympuseyewear.com has contributed as a point of reference for the product and availability. We are also active in the social media arena and employ a talented individual who manages all this side of the business for us. This programme carries on today and our year ending 2018 finished in a similar position to 2017.

In early 2018 the company entered into a distribution arrangement to extend its portfolio of brands into a different sector moving into a higher price selling point and a product that cannot be copied which is totally unique to the consumer. The brand ULTRA LIMITED was launched in February 2018 at an optical exhibition in London and the response was very encouraging. The exhibition has also lead to a business arrangement with the satellite laboratories owned by Essilor to promote the brand as part of the packages they offer. During the last months the company has increased it turnover by 20% with the new brand through just two sales people and the wish is to seek funding to grow the business even further. This growth has come through new accounts to the company who grasp the concept of individuality and wish to have product totally different to other surrounding practices. We have adopted a policy of only having selected practices selling the product in each town/city.

We have a close relationship with the manufacturer who we have known for over a decade. The new products which are scheduled for the coming years are based on the original concept, (unique pieces), will guarantee our longevity.

Please see the attachments which will give you a good feel for the new product we are selling.

Read more

Loan Offers

What is the loan for?

Currently the company has been able to obtain short term funding to address working capital needs to meet rising sales and funding for salesman’s sample sets. These requirements have always been short term and costly. Fortunately, our margins allow us the luxury to cover these costs, but it is not always good practice to operate in this way. Our objective for the use of the funds is to take out our existing loans with a more long-term financing package which will reduce our monthly repayment programme. These monthly saving’s will be used to relieve pressure on monthly timings of cleared funds against liabilities.

The residual funds, (£25K), would be used to fund and bring on additional sales agents specifically to just sell the Ultra Limited brand. The collection of products is up-dated every six months with new eye shapes and concepts but the overall stock holding would remain at the same level with more sample sets out in the field being used by our agents. This would now give us up to six agents covering the UK with average sales of £30K per month, exclusively with the Ultra Ltd brand within 3-4 months is very achievable.

Why consider investing?

Albeit the company is only 4 years old the senior management have worked in the industry for over 30 years and during that period they are well versed into all sectors of running a business from financial expectations and understandings to sales and marketing and product development and distribution.

The collective opinion of the directors and senior management is that the Ultra Limited collection is so different and unique to the UK market that with the right level of financial backing and management the company has the ability to increase its turnover substantially over the coming period. In Italy where the concept and product was born they now have over 1800 doors selling the collection. If Olympus can achieve 500 doors in two years that will be a reasonable achievement.

As most of the stock is held by our partners 450 in Italy we indent on a back to back basis against our orders, so we operate a just in time system and have no investment into large stock holding. The company also operates a selective invoice discounting facility with a leading Fintech company to assist in cash flow requirement for our larger clients who are limited companies and the debt is duly insured under the selective arrangement.

As is common practice with a company of our current size our bankers are not in a position to assist so we have no liabilities what so ever with Barclays Bank our current bankers.


This loan will be secured by way of a Personal Guarantee, a property charge, two debentures and a corporate guarantee.

A PG will be provided by the sole director, Mr Barry Love. Mr Love has an estimated net worth of £125,000.00 derived from his ownership of his domestic residence. The property is jointly owned by Mr Love and his partner. The property is worth an estimated £250,000 based on online estimates, and is unencumbered with no mortgage.

A PG is also provided by the majority shareholder of the business, Ms Susan Fisher. Ms Fisher has an estimated net worth of £95,000 deriving from her ownership of her domestic residence. £0 value has been assigned to the PG due to the fact that a property charge is also being offered to us over this property.

A property charge is also being offered over the majority shareholder's home. A second priority legal charge will be taken over Ms Fisher's residential home, a flat with an estimated value of £195,000 (based on online estimates) and £95,000 equity.

An All Assets Debenture will be taken over the applicant company. This will be a first priority charge, and will cover the fixed assets of c£2,000, c£42,000 of stock and the c£97,000 debtor book, along with all other assets of the business. A second debenture will also be taken of Mr Love's other company, Olympus Eyewear Group Limited (08900758). This charge will cover the c£28,000 of fixed assets, c£32,000 of stock and the c£58,000 debtor book.

To complete the security package, a corporate guarantee will be taken over Olympus Eyewear Group Limited.

08/02/2019£713.64£406.77£306.87 (6 days late)