PICK IT PACK IT SEND IT LIMITED

WHOLESALE AND RETAIL TRADE INCLUDING REPAIR OF MOTOR VEHICLES

Funds Raised

£27,700.00

Final AER

19.54%

Loan term

36 MONTHS

Auction Closed

2017-10-18

Micro Loan Opportunities
Buy Capital Seller's
Premium
Price Buyer's
Rate
BuyBack
£22.95 +8.00% £24.79 9.80%

About the Business

Company Name: PICK IT PACK IT SEND IT LIMITED Company Number: 08395577
Business Type: WHOLESALE AND RETAIL TRADE INCLUDING REPAIR OF MOTOR VEHICLES Years Trading: 2-3 years
Business Location: rugby

About the Risk

Risk rating

C

Default rate

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

Personal Guarantee - PG from Chris Pearson

Est. Equity: 25000.00

Personal Guarantee - PG from Sophie Pearson

Est. Equity: 25000.00

Risk Indicators Identified:

May not produce Management Accounts
This company may not prepare management accounts on a regular basis
Low Security Coverage
The security offered on this loan is below desirable levels
Notable Dividends Taken
More than 50% of Net Profit has been taken as dividends within at least one of the assessed periods
Discharged bankruptcies
The director(s) have been declared bankrupt and been discharged from bankruptcy in the past

Important Files

Who are we?

Disclosure

This company has elected to submit VAT returns instead of Management Accounts. As a result, this listing is presented to lenders with the previous two years of filed accounts, the 12 months to 28-02-2015, and the 15 months to 30-06-2016.

More recent financial information is presented in the form of VAT Returns, which have been uploaded to the listing for lenders to download.

http://www.pickitpackitsendit.co.uk/

Pick it Pack it Send it does exactly what our name suggests! We offer a professional and affordable order fulfilment service to companies of any size. We particularly specialise in small companies that have got to the stage of needing extra help but are not yet in the position to rent their own warehouse space. We provide the ideal solution with our easy to use service and our friendly, helpful and dedicated team. By taking the stress out of storage and order processing we allow our clients to concentrate on other areas of their business.

Read more

Loan Offers

What is the loan for?

A loan of £25,000 plus fees is sought. From this, £11,000 will be used to consolidate short-term lenders. It is estimated that this consolidation will save roughly £1,000 per month and prove cheaper overall. The remaining funds will be used as follows. £3,000 will be used to cover the first 3 months of wages towards new staff for the training to sell Pick it and Pack It on ebay and amazon. £1,000 has been set aside for the purchase of new computers and a printer. £5,000 will be used to purchase racking to cover a new client and the remaining funds will be used for working capital.

Why consider investing?

Security

This loan is to be secured on a Personal Guarantee from the directors, Mr Chris Pearson and Mrs Sophie Pearson.

Together they have an estimated net worth of £35,000.

This is derived from their joint ownership of their domestic residence, a property with an estimated value of £240,000 (based on online estimates) with £50,000 estimated equity. There are other personal liabilities totalling £14,250, leaving an estimated net worth of around £35,000.

ReBS Disclosure

The attention of lenders is drawn to the fact that the directors and loan guarantors, Mr Christopher Pearson and Mrs Sophie Pearson, have been previously adjudged bankrupt. An underwriting question containing further details and the applicant's explanation is provided to lenders and is visible on the discussion forum.

DateAmountCapitalInterestReceived
22/11/2017£1,022.98£571.88£451.10
22/12/2017£1,022.98£581.20£441.78
22/01/2018£1,022.98£590.66£432.32
22/02/2018£1,022.98£600.28£422.70
22/03/2018£1,022.98£610.05£412.93
22/04/2018£1,022.98£619.99£402.99
22/05/2018£1,022.98£630.09£392.89
22/06/2018£1,022.98£640.35£382.63
22/07/2018£1,022.98£650.78£372.20
22/08/2018£1,022.98£661.37£361.61
22/09/2018£1,022.98£672.14£350.84
22/10/2018£1,022.98£683.09£339.89
22/11/2018£1,022.98£694.21£328.77
22/12/2018£1,022.98£705.52£317.46
22/01/2019£1,022.98£717.01£305.97
22/02/2019£1,022.98£728.69£294.29
22/03/2019£1,022.98£740.55£282.43
22/04/2019£1,022.98£752.61£270.37
22/05/2019£258.11£0.00£258.11Interest only
22/06/2019£258.11£0.00£258.11Interest only
22/07/2019£258.11£0.00£258.11Interest only
22/08/2019£1,022.98£764.87£258.11Not Due
22/09/2019£1,022.98£777.33£245.65Not Due
22/10/2019£1,022.98£789.98£233.00Not Due
22/11/2019£1,022.98£802.85£220.13Not Due
22/12/2019£1,022.98£815.92£207.06Not Due
22/01/2020£1,022.98£829.21£193.77Not Due
22/02/2020£1,022.98£842.71£180.27Not Due
22/03/2020£1,022.98£856.44£166.54Not Due
22/04/2020£1,022.98£870.39£152.59Not Due
22/05/2020£1,022.98£884.56£138.42Not Due
22/06/2020£1,022.98£898.97£124.01Not Due
22/07/2020£1,022.98£913.61£109.37Not Due
22/08/2020£1,022.98£928.48£94.50Not Due
22/09/2020£1,022.98£943.60£79.38Not Due
22/10/2020£1,022.98£958.97£64.01Not Due
22/11/2020£1,022.98£974.59£48.39Not Due
22/12/2020£1,022.98£990.46£32.52Not Due
22/01/2021£1,022.98£1,006.59£16.39Not Due
Total:£27,700.00£9,901.61