Pursuit Training Limited

Investment Requests for Debt Re-Finance for Expansion

Overview
Funds raised
£75,000
Final AER
18.43%
Loan Term
60
Completed:
04/08/2015
About the Business
Company Name: PURSUIT TRAINING LIMITED Company Number: 06905677
Business Type: Education Years Trading: 4-5 years
Business Location: WESTON-SUPER-MARE
About the Risk
Risk Rating: C

Default rate

14.2%

Bad debt rate

0.14%

About the Security
Security Offered:
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All Assets Debenture - Fixed and floating charge created over all assets of applicant company
Est. Equity: £0.00

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Personal Guarantee - Done (PG from director and majority shareholder)
Est. Equity: £0.00

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Who are we?

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Pursuit Training Limited is a provider of vocational education. Utilising several contracts both direct and indirect via the government we deliver government funded Traineeships, Apprenticeships, Programs for the Unemployed and other bespoke training solutions in the Health & Social Care sector.

We have secured contracts for in excess of £2 million for 2015/16 which has taken significant investment and hard work. Voted North Somerset Small Business of the Year in 2013 we have doubled in size year on year since we began trading in 2010 and turnover for the financial year that has just finished is in excess of £1.2 million. We operate across the South West Region and are now expanding beyond into neighbouring regions due to high demand and our growing reputation. We take great pride in not only giving the training required to start a new career but also using our extensive employer network to secure job opportunities for our students. In addition to our government funded provision we are also about to launch our commercial training packages due to constant request and demand from our clients.

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Details

Who are we?

Visit Our Website

Pursuit Training Limited is a provider of vocational education. Utilising several contracts both direct and indirect via the government we deliver government funded Traineeships, Apprenticeships, Programs for the Unemployed and other bespoke training solutions in the Health & Social Care sector.

We have secured contracts for in excess of £2 million for 2015/16 which has taken significant investment and hard work. Voted North Somerset Small Business of the Year in 2013 we have doubled in size year on year since we began trading in 2010 and turnover for the financial year that has just finished is in excess of £1.2 million. We operate across the South West Region and are now expanding beyond into neighbouring regions due to high demand and our growing reputation. We take great pride in not only giving the training required to start a new career but also using our extensive employer network to secure job opportunities for our students. In addition to our government funded provision we are also about to launch our commercial training packages due to constant request and demand from our clients.

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The loan would be to re-finance 2 short term high interest, high monthly repayment loans.

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Business Profile

What is the loan for?

The loan would be to re-finance 2 short term high interest, high monthly repayment loans.

Why consider investing?

As a government funded organisation we have to go through severe due diligence processes in order to qualify for public funding. We are therefore on the governments approved Register of Training Organisations. In addition to this we are inspected by Ofsted and audited by the PfA, both of which are government organisations. We currently hold yearly rolling contracts, with 2 direct contracting organisations, and one held directly that total over £2 million and have the opportunity to increase these depending on our ability to deliver increased volumes. All of our work in 2015 will secure income for 2016 as income is secured for 12-18 months at a time. Security by the way of a commercial property or directors guarantee can be offered.

Security

The loan is to be secured by way of a personal Guarantee and a 2nd charge on a property owned by the company

The director has an estimate net worth of £20k. This is through co-ownership of a personal property with an estimate value of £165k and estimate equity of £ 40k.

The 2nd charge will be registered on a property with an estimate value of £240k and estimate equity of £98k

Recovery News
This loan may be behind with its repayment schedule and so microloan trading has been suspended while we work to help the business recover its repayment form. Please see the Loan Updates tab for recent updates.
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