PURSUIT TRAINING LIMITED

Education

Funds Raised

£75,000.00

Final AER

18.43%

Loan term

60 MONTHS

Auction Closed

2015-08-04

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.

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

13.30%

Bad debt rate

5.47%

About the Security

Security Offered:

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

Est. Equity: 0.00

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

Est. Equity: 0.00

Risk Indicators Identified:

Important Files

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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Loan Offers

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

DateAmountCapitalInterestReceived
04/09/2015£1,922.09£770.22£1,151.87
04/10/2015£1,922.09£782.05£1,140.04
04/11/2015£1,922.09£794.06£1,128.03 (12 days late)
04/12/2015£1,922.09£806.26£1,115.83
04/01/2016£1,922.09£818.64£1,103.45
04/02/2016£1,922.09£831.21£1,090.88
04/03/2016£1,922.09£843.98£1,078.11
04/04/2016£1,922.09£856.94£1,065.151232 days overdue
04/05/2016£1,922.09£870.10£1,051.991202 days overdue
04/06/2016£1,922.09£883.46£1,038.631171 days overdue
04/07/2016£1,922.09£897.03£1,025.061141 days overdue
04/08/2016£1,922.09£910.81£1,011.281110 days overdue
04/09/2016£1,922.09£924.80£997.291079 days overdue
04/10/2016£1,922.09£939.00£983.091049 days overdue
04/11/2016£1,922.09£953.42£968.671018 days overdue
04/12/2016£1,922.09£968.07£954.02988 days overdue
04/01/2017£1,922.09£982.93£939.16957 days overdue
04/02/2017£1,922.09£998.03£924.06926 days overdue
04/03/2017£1,922.09£1,013.36£908.73898 days overdue
04/04/2017£1,922.09£1,028.92£893.17867 days overdue
04/05/2017£1,922.09£1,044.72£877.37837 days overdue
04/06/2017£1,922.09£1,060.77£861.32806 days overdue
04/07/2017£1,922.09£1,077.06£845.03776 days overdue
04/08/2017£1,922.09£1,093.60£828.49745 days overdue
04/09/2017£1,922.09£1,110.40£811.69714 days overdue
04/10/2017£1,922.09£1,127.45£794.64684 days overdue
04/11/2017£1,922.09£1,144.77£777.32653 days overdue
04/12/2017£1,922.09£1,162.35£759.74623 days overdue
04/01/2018£1,922.09£1,180.20£741.89592 days overdue
04/02/2018£1,922.09£1,198.33£723.76561 days overdue
04/03/2018£1,922.09£1,216.73£705.36533 days overdue
04/04/2018£1,922.09£1,235.42£686.67502 days overdue
04/05/2018£1,922.09£1,254.39£667.70472 days overdue
04/06/2018£1,922.09£1,273.66£648.43441 days overdue
04/07/2018£1,922.09£1,293.22£628.87411 days overdue
04/08/2018£1,922.09£1,313.08£609.01380 days overdue
04/09/2018£1,922.09£1,333.25£588.84349 days overdue
04/10/2018£1,922.09£1,353.72£568.37319 days overdue
04/11/2018£1,922.09£1,374.51£547.58288 days overdue
04/12/2018£1,922.09£1,395.62£526.47258 days overdue
04/01/2019£1,922.09£1,417.06£505.03227 days overdue
04/02/2019£1,922.09£1,438.82£483.27196 days overdue
04/03/2019£1,922.09£1,460.92£461.17168 days overdue
04/04/2019£1,922.09£1,483.36£438.73137 days overdue
04/05/2019£1,922.09£1,506.14£415.95107 days overdue
04/06/2019£1,922.09£1,529.27£392.8276 days overdue
04/07/2019£1,922.09£1,552.76£369.3346 days overdue
04/08/2019£1,922.09£1,576.61£345.4815 days overdue
04/09/2019£1,922.09£1,600.82£321.27Not Due
04/10/2019£1,922.09£1,625.41£296.68Not Due
04/11/2019£1,922.09£1,650.37£271.72Not Due
04/12/2019£1,922.09£1,675.72£246.37Not Due
04/01/2020£1,922.09£1,701.45£220.64Not Due
04/02/2020£1,922.09£1,727.58£194.51Not Due
04/03/2020£1,922.09£1,754.12£167.97Not Due
04/04/2020£1,922.09£1,781.06£141.03Not Due
04/05/2020£1,922.09£1,808.41£113.68Not Due
04/06/2020£1,922.09£1,836.19£85.90Not Due
04/07/2020£1,922.09£1,864.39£57.70Not Due
04/08/2020£1,922.09£1,893.02£29.07Not Due
Total:£75,000.01£40,325.39