Facility
£5,500,000
Current balance
£2,567,666
All-in rate
8.50%
Term
60 months
Days past due
—
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Receipt £130,625
→Fees & charges
£2,613
Accrued interest
£38,958
Principal
£89,054
Each tranche is then attributed across 1 lender position as a ledger fact — no batch recomputation.
Amortisation schedule
First eight periods
| # | Due | Interest | Principal | Total | Closing balance |
|---|---|---|---|---|---|
| 1 | 19 Sept 2023 | £38,958 | £91,667 | £130,625 | £5,408,333 |
| 2 | 19 Oct 2023 | £38,309 | £91,667 | £129,976 | £5,316,667 |
| 3 | 19 Nov 2023 | £37,660 | £91,667 | £129,326 | £5,225,000 |
| 4 | 19 Dec 2023 | £37,010 | £91,667 | £128,677 | £5,133,333 |
| 5 | 19 Jan 2024 | £36,361 | £91,667 | £128,028 | £5,041,667 |
| 6 | 19 Feb 2024 | £35,712 | £91,667 | £127,378 | £4,950,000 |
| 7 | 19 Mar 2024 | £35,062 | £91,667 | £126,729 | £4,858,333 |
| 8 | 19 Apr 2024 | £34,413 | £91,667 | £126,080 | £4,766,667 |
Facility history
Continuous, auditable record from application to closure
19 Aug 2023
Facility drawn
£5,500,000 released to solicitor client account
19 Aug 2023
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
19 Aug 2023
DD mandates live
1 mandate confirmed with BACS bureau
19 Oct 2023
First collection
£130,625 collected and allocated
19 Dec 2023
Covenant test — Q1
DSCR 1.62x against 1.25x floor
Credit profile
- Company number
- 04185831
- Sector
- Health Care Equipment
- Security
- Cash Flow
- LTV
- 66%
- Leverage
- 1.6x
- DSCR
- 1.62x
- Drawdown
- 19 Aug 2023
- Grade
- G2/5
Lender allocation
Attribution held in the ledger
Northgate Capital100.0%
£2,567,666 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file