Facility
£250,000
Current balance
£242,918
All-in rate
12.25%
Term
24 months
Days past due
128
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Each tranche is then attributed across 2 lender positions as a ledger fact — no batch recomputation.
Amortisation schedule
First eight periods
| # | Due | Interest | Principal | Total | Closing balance |
|---|---|---|---|---|---|
| 1 | 04 Aug 2024 | £2,552 | £10,417 | £12,969 | £239,583 |
| 2 | 04 Sept 2024 | £2,446 | £10,417 | £12,862 | £229,167 |
| 3 | 04 Oct 2024 | £2,339 | £10,417 | £12,756 | £218,750 |
| 4 | 04 Nov 2024 | £2,233 | £10,417 | £12,650 | £208,333 |
| 5 | 04 Dec 2024 | £2,127 | £10,417 | £12,543 | £197,917 |
| 6 | 04 Jan 2025 | £2,020 | £10,417 | £12,437 | £187,500 |
| 7 | 04 Feb 2025 | £1,914 | £10,417 | £12,331 | £177,083 |
| 8 | 04 Mar 2025 | £1,808 | £10,417 | £12,224 | £166,667 |
Facility history
Continuous, auditable record from application to closure
04 Jul 2024
Facility drawn
£250,000 released to solicitor client account
04 Jul 2024
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
04 Jul 2024
DD mandates live
2 mandates confirmed with BACS bureau
04 Sept 2024
First collection
£12,969 collected and allocated
04 Nov 2024
Covenant test — Q1
DSCR 0.56x against 1.25x floor
04 Jan 2025
Direct debit failed
Funds moved to suspense, lender sweep stopped
04 Feb 2025
Arrears clock started — 128 days
Notice issued under Monitoring & Recoveries Policy
Credit profile
- Company number
- 11631104
- Sector
- Specialty Retail
- Security
- Asset Backed
- LTV
- 51%
- Leverage
- 5.3x
- DSCR
- 0.56x
- Drawdown
- 04 Jul 2024
- Grade
- G5/5
Lender allocation
Attribution held in the ledger
£126,317 outstanding
£116,601 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file