Personal Property Ltd

Business Services

Funds Raised

£25,000.00

Final AER

12.58%

Loan term

60 MONTHS

Auction Closed

2015-03-31

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack

About the Business

Company Name: Personal Property Ltd Company Number: 07396068
Business Type: Business Services Years Trading: 4-5 years
Business Location: MARGATE

About the Risk

Risk rating

B

Default rate

6.90%

Bad debt rate

5.67%

About the Security

Security Offered:

Personal Guarantee - Done (PG from director and majority shareholder)

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

Who are we?

Personal Property is a family run business with focus on providing a personal service to our clients.

Our business has grown from day one to service a range needs from our customers. Our core business continues to be that of a financial brokerage specialising in short term bridging loans and commercial finance. In the last two years we have expanded to offer high value debt negotiation and management consultancy.

As we continue into our fifth year our expansion plans include lending our own retained profits and developing an In-house underwriting and loan management system focused on the short term bridging loan market. All business expansions considered focus on business to business offerings and must be of high margin as are all of our activities. .

Read more

Loan Offers

What is the loan for?

The Loan is to Purchase a Client Bank from a retiring broker. The client bank is being sold for £40,000 and the client is funding part from within the business and part through finance. The return from the client bank is expected to increase turnover by approx £50k per annum, increasing profitability by circa £22,000 per annum. Whilst it is expected that the company may be in a position to repay the loan early, they do not want it to be a strain on their cash flow at this time.

They have recently invested circa £50,000 in new technology to streamline the business and a further £23,000 credit Checking Software/Subscription with Experian.

Why consider investing?

Growing company that has never defaulted and always kept borrowing to a minimum. The company has never defaulted on any loans or credit agreement.

Previous Businesses: Cultivation Group (UK), Seedling Finance, Glass Finance and 7 Bridging Finance

A group of companies were set up under the name Cultivation Group (UK) Ltd which hold 100% shares in Seedling Finance Ltd, Glass Finance Ltd and 7 Bridging Finance Ltd. They were set up to begin raising funds for lending out on bridging and commercial mortgage rates. The only trading put through any of them is between Glass Finance and Seedling Finance. Beyond that we haven't traded at all with them.

Notes on Accounts

The Year End 2014 Accounts have not yet been filed, but the Borrower has agreed to file these ahead of completion

Security

The loan is to be secured by way of Directors guarantee.

The director has an estimate net worth of £75k. This is primarily through ownership of a property with an estimate value of £240k, and approximate equity of £104k

DateAmountCapitalInterestReceived
30/04/2015£563.47£301.38£262.09
30/05/2015£563.47£304.54£258.93
30/06/2015£563.47£307.74£255.73
30/07/2015£563.47£310.96£252.51
30/08/2015£563.47£314.22£249.25
30/09/2015£563.47£317.52£245.95
30/10/2015£563.47£320.84£242.63
30/11/2015£563.47£324.21£239.26
30/12/2015£563.47£327.61£235.86
01/02/2016£563.47£331.04£232.43
29/02/2016£563.47£334.51£228.96
30/03/2016£563.47£338.02£225.45
30/04/2016£563.47£341.56£221.91
30/05/2016£563.47£345.14£218.33
30/06/2016£563.47£348.76£214.71
30/07/2016£563.47£352.42£211.05
30/08/2016£563.47£356.11£207.36
30/09/2016£563.47£359.84£203.63
30/10/2016£563.47£363.62£199.85
30/11/2016£563.47£367.43£196.04
30/12/2016£563.47£371.28£192.19
02/02/2017£563.47£375.17£188.30
28/02/2017£563.47£379.11£184.36
30/03/2017£563.47£383.08£180.39
30/04/2017£563.47£387.10£176.37
30/05/2017£563.47£391.15£172.32
30/06/2017£563.47£395.25£168.22
30/07/2017£563.47£399.40£164.07
30/08/2017£563.47£403.58£159.89
30/09/2017£563.47£407.82£155.65
30/10/2017£563.47£412.09£151.38
30/11/2017£563.47£416.41£147.06
30/12/2017£563.47£420.78£142.69
02/02/2018£563.47£425.19£138.28
28/02/2018£563.47£429.65£133.82
30/03/2018£563.47£434.15£129.32
30/04/2018£563.47£438.70£124.77
30/05/2018£563.47£443.30£120.17
30/06/2018£563.47£447.95£115.52
30/07/2018£563.47£452.64£110.83
30/08/2018£563.47£457.39£106.08
30/09/2018£563.47£462.18£101.29
30/10/2018£563.47£467.03£96.44
30/11/2018£563.47£471.92£91.55
30/12/2018£563.47£476.87£86.60
02/02/2019£563.47£481.87£81.60
28/02/2019£563.47£486.92£76.55
30/03/2019£563.47£492.03£71.44
30/04/2019£563.47£497.19£66.28
30/05/2019£563.47£502.40£61.07
30/06/2019£563.47£507.66£55.81
30/07/2019£563.47£512.99£50.48
30/08/2019£563.47£518.36£45.11
30/09/2019£563.47£523.80£39.67Not Due
30/10/2019£563.47£529.29£34.18Not Due
30/11/2019£563.47£534.84£28.63Not Due
30/12/2019£563.47£540.44£23.03Not Due
01/02/2020£563.47£546.11£17.36Not Due
29/02/2020£563.47£551.84£11.63Not Due
30/03/2020£563.47£557.62£5.85Not Due
Total:£25,000.02£8,808.18