Business Borrower

[Image: OLIVEENO1]

OLIVEENO1

Year Established:
05-04-2011
Bigcarrots member since:
27-04-2011
Number of CCJs:
0
Businesses Credit Rating
  • 2/5 Stars
Affordability
  • 1.25/5 Stars
Strength
  • 1.5/5 Stars

BUSINESS EXPANSION (Immediate Fund)

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Loan Purpose
Business Expansion
Loan Amount
£5,000.00
Loan Term
12 Months
Target Interest Rate
9.00 %
Progress Bar
0%

£0 from 0 offers

Listing Ends
26-02-2012 12:00:03 AM (3 days)

Company Profile

For what purpose is the company borrowing
The loan is primarily for advertising of our services, including leafleting, website building, stationery and a vehicle (through leasing) for our property management team to use for visits, as our properties are spread far and wide, as well as an upgraded house clearance vehicle to enable us to accommodate more capacity and therefore deliver an even more efficient service. The loan is essentially a "leg-up" for our company, which we project will become self-sufficient by the end of Year 1.
Why I think it is affordable
It is affordable because we have existing rental properties, which are cashflow positive and can, by themselves, cover the loan repayment. In addition, we have income from our building services and house clearance services, which are increasing month on month. The Below Market Value properties are added every quarter, bringing in additional income and increasing the stability and sustainability of our company. All team members, who will eventually become shareholders and/or directors, including the Company Secretary, have agreed to put in £200 per month as a "safety net", which shows the total commitment of everyone to the ongoing and long-term health, growth and development of the company.
What the company does
Our company is a property lettings management company, which has got into an area of Norfolk, where there is a great need for our type of service. We manage properties for landlords, providing services such as inventories, rent collection, finding and vetting of tenants, repairs, and overall care of the properties, tenants and landlords. We also buy Below Market Value properties all over the country, which are already tenanted and managed by us as a company. They are all cashflow positive and have equity, enabling us to buy more properties to add to our portfolio. In addition, we have a building services arm of our company, which provides services such as repairs, loft conversions, extensions and general building services. We also provide a licensed house clearance service, in a professional and courteous. In fact, we provide a comprehensive service, according to the needs analysis that we conducted. Our reputation is building through word of mouth recommendation in all departments already
Brief company history
Our company is 4 months old, although the relevant experience of our team spans more than 20 years in building, management, Human Resources, marketing & advertising, security, Health & Safety, etc. It is a company that was formed because we wanted to harness the skills, knowledge, expertise and hands-on experience of a group of trusted brains under one umbrella, providing essential services and filling any gaps in the market, through our dynamic and pragmatic approach.
No.of Directors
1
No.of Employees
4
Why support my business
I am a safe pair of hands because I have good credit and I am mature and experienced. I oversee all operations and have put in place an experienced and dedicated team of people to ensure that all financial commitments are met in a timely manner, which is how I do things personally. The team that I have put together includes members of my family, such as my son and son-in-law, as well as other trusted people whom I have known for 30 years+. All in all, I feel that our company has a good profitability profile and will only go from strength to strength with your help. Furthermore, we have an established property broker, who sources our properties and does all the necessary due diligence, as well as providing a regular and constant supply of quality Below Market Value properties to us on demand. Therefore, the net profit shown so far is a conservative projection and the profitability of our business is likely to be much greater.

Business turnover and Business Costs

Annual turnover
£81,541.00
Net Profit
£2,796.00
Gearing %
0.00%

Business Summary

Property lettings is still a growing market, although the company is young they have a good management team behind it. Could be one to watch.

Lending offers

Lender Amount Rate Date Status
No Listing Offers available

ANY QUESTIONS?

We like to encourage dialogue between all members of the Bigcarrots marketplace. You can ask the business a question, but they do not have to answer every question and they may not wish to divulge sensitive information.

  1. No Listing Questions available