Facility
£2,000,000
Current balance
£896,687
All-in rate
12.25%
Term
48 months
Days past due
92
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Each tranche is then attributed across 3 lender positions as a ledger fact — no batch recomputation.
Amortisation schedule
First eight periods
| # | Due | Interest | Principal | Total | Closing balance |
|---|---|---|---|---|---|
| 1 | 14 Jan 2024 | £20,417 | £41,667 | £62,083 | £1,958,333 |
| 2 | 14 Feb 2024 | £19,991 | £41,667 | £61,658 | £1,916,667 |
| 3 | 14 Mar 2024 | £19,566 | £41,667 | £61,233 | £1,875,000 |
| 4 | 14 Apr 2024 | £19,141 | £41,667 | £60,807 | £1,833,333 |
| 5 | 14 May 2024 | £18,715 | £41,667 | £60,382 | £1,791,667 |
| 6 | 14 Jun 2024 | £18,290 | £41,667 | £59,957 | £1,750,000 |
| 7 | 14 Jul 2024 | £17,865 | £41,667 | £59,531 | £1,708,333 |
| 8 | 14 Aug 2024 | £17,439 | £41,667 | £59,106 | £1,666,667 |
Facility history
Continuous, auditable record from application to closure
14 Dec 2023
Facility drawn
£2,000,000 released to solicitor client account
14 Dec 2023
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
14 Dec 2023
DD mandates live
3 mandates confirmed with BACS bureau
14 Feb 2024
First collection
£62,083 collected and allocated
14 Apr 2024
Covenant test — Q1
DSCR 0.98x against 1.25x floor
14 Jun 2024
Direct debit failed
Funds moved to suspense, lender sweep stopped
14 Jul 2024
Arrears clock started — 92 days
Notice issued under Monitoring & Recoveries Policy
Credit profile
- Company number
- 11344670
- Sector
- Machinery
- Security
- Cash Flow
- LTV
- 47%
- Leverage
- 4.8x
- DSCR
- 0.98x
- Drawdown
- 14 Dec 2023
- Grade
- G5/5
Lender allocation
Attribution held in the ledger
£306,761 outstanding
£283,164 outstanding
£306,761 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file