Prima Cleaners Limited

Investment Requests for To Purchase Machines for Our New Store and Our App Based Launderette

Overview
Funds raised
£53,000
Final AER
18.60%
Loan Term
60
Completed:
02/04/2017
About the Business
Company Name: PRIMA CLEANERS LIMITED Company Number: 08685005
Business Type: Other service activities Years Trading: 3-5 years
Business Location: Southport
About the Risk
Risk Rating: C

Default rate

17.0%

Bad debt rate

0.14%

Risk Idicators
Identified:
Low Security Coverage
The security offered on this loan is below desirable levels
Below Average Business Credit Rating
A 3rd party credit rating agency has indicated that this business is above average risk.
Previous Failed Businesses
One or more of the directors has been involved in a failed business
High Debt-to-Equity Ratio
This company has a higher than average level of company debt in relation to its equity
Low Quick Ratio Score
The quick ratio is an indicator of a company’s short-term liquidity. The quick ratio measures a company’s ability to meet its short-term obligations with its most liquid assets
High level of borrowings
This business has a high level of borrowings in relation to its turnover
About the Security
Security Offered:
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All Assets Debenture - Fixed and Floating Asset Debenture, with Fixed charge to be placed on the new machinery to be purchased
Est. Equity: £23477.00

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Personal Guarantee - Personal Guarantee from G. Davies
Est. Equity: £0.00

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Who are we?

This loan has benefited from a starting rate interest rate reduction due to the security offered, you can find out more information on this here

. Visit Our Website Here

Prima Cleaners has gone from being a traditional dry cleaners to a new exciting chemical free sought after Dry cleaners using only water and light detergents in all our processes. Prima now boasts being able to clean all our own Leather and Suedes /handbags/shoes/Gowns/silks all on site with our Miele wetcare system.

Prima has four trading stores and is soon to open its fifth we are also in the process of opening two receiver stores one with general laundry and one with garment alterations and repairs this allows us to use all our spare capacity in our main stores .

Prima Cleaners has also secured a small site in Liverpool city center to pilot its new MOBILE APP based Launderette this enables customer to use a totally cashless self service laundry system. Prima has secured the UK rights to use the software and will commence to approach Universities and student accommodation developers in the coming weeks.

READ MORE...

Details

Who are we?

This loan has benefited from a starting rate interest rate reduction due to the security offered, you can find out more information on this here

. Visit Our Website Here

Prima Cleaners has gone from being a traditional dry cleaners to a new exciting chemical free sought after Dry cleaners using only water and light detergents in all our processes. Prima now boasts being able to clean all our own Leather and Suedes /handbags/shoes/Gowns/silks all on site with our Miele wetcare system.

Prima has four trading stores and is soon to open its fifth we are also in the process of opening two receiver stores one with general laundry and one with garment alterations and repairs this allows us to use all our spare capacity in our main stores .

Prima Cleaners has also secured a small site in Liverpool city center to pilot its new MOBILE APP based Launderette this enables customer to use a totally cashless self service laundry system. Prima has secured the UK rights to use the software and will commence to approach Universities and student accommodation developers in the coming weeks.

READ MORE...

Prima plan to use this round of funding to complete the development and launch of their new mobile launderette app and purchase a number of machines for the launderette in Liverpool.

Following the successful roll out and launch of the app and new machines, Prima may seek to return for a further round of funding to fund the roll out of the app launderettes at new locations.

Loan Offers
Business Profile

What is the loan for?

Prima plan to use this round of funding to complete the development and launch of their new mobile launderette app and purchase a number of machines for the launderette in Liverpool.

Following the successful roll out and launch of the app and new machines, Prima may seek to return for a further round of funding to fund the roll out of the app launderettes at new locations.

Why consider investing?

Prima is a fast growing brand in our sector using up to the minute technology in all our processes. Prima believes our new mobile Launderette App will be welcomed by all new developments were laundry facilities are a requirement.

Note

Rebuildingsociety.com will oversee the purchase of the new machines that are to be purchased form the proceeds of this loan.

Security

The loan is to be secured by a Personal Guarantee from the director, Mr G Davies as well as by an All Assets Debenture over the business.

Mr Davies is not a homeowner and as such does not hold any personal assets

The All Assets Debenture will include a fixed charge on the new machines which are to be bought with the funds raised

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