Facility
£1,000,000
Current balance
£835,100
All-in rate
11.00%
Term
36 months
Days past due
—
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Receipt £36,944
→Fees & charges
£739
Accrued interest
£9,167
Principal
£27,039
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 | 11 Apr 2021 | £9,167 | £27,778 | £36,944 | £972,222 |
| 2 | 11 May 2021 | £8,912 | £27,778 | £36,690 | £944,444 |
| 3 | 11 Jun 2021 | £8,657 | £27,778 | £36,435 | £916,667 |
| 4 | 11 Jul 2021 | £8,403 | £27,778 | £36,181 | £888,889 |
| 5 | 11 Aug 2021 | £8,148 | £27,778 | £35,926 | £861,111 |
| 6 | 11 Sept 2021 | £7,894 | £27,778 | £35,671 | £833,333 |
| 7 | 11 Oct 2021 | £7,639 | £27,778 | £35,417 | £805,556 |
| 8 | 11 Nov 2021 | £7,384 | £27,778 | £35,162 | £777,778 |
Facility history
Continuous, auditable record from application to closure
11 Mar 2021
Facility drawn
£1,000,000 released to solicitor client account
11 Mar 2021
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
11 Mar 2021
DD mandates live
1 mandate confirmed with BACS bureau
11 May 2021
First collection
£36,944 collected and allocated
11 Jul 2021
Covenant test — Q1
DSCR 1.27x against 1.25x floor
Credit profile
- Company number
- 01426974
- Sector
- Transportation
- Security
- Cash Flow
- LTV
- 54%
- Leverage
- 3.2x
- DSCR
- 1.27x
- Drawdown
- 11 Mar 2021
- Grade
- G4/5
Lender allocation
Attribution held in the ledger
Northgate Capital100.0%
£835,100 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file