Facility
£400,000
Current balance
£261,897
All-in rate
12.25%
Term
24 months
Days past due
66
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Each tranche is then attributed across 5 lender positions as a ledger fact — no batch recomputation.
Amortisation schedule
First eight periods
| # | Due | Interest | Principal | Total | Closing balance |
|---|---|---|---|---|---|
| 1 | 10 Aug 2022 | £4,083 | £16,667 | £20,750 | £383,333 |
| 2 | 10 Sept 2022 | £3,913 | £16,667 | £20,580 | £366,667 |
| 3 | 10 Oct 2022 | £3,743 | £16,667 | £20,410 | £350,000 |
| 4 | 10 Nov 2022 | £3,573 | £16,667 | £20,240 | £333,333 |
| 5 | 10 Dec 2022 | £3,403 | £16,667 | £20,069 | £316,667 |
| 6 | 10 Jan 2023 | £3,233 | £16,667 | £19,899 | £300,000 |
| 7 | 10 Feb 2023 | £3,062 | £16,667 | £19,729 | £283,333 |
| 8 | 10 Mar 2023 | £2,892 | £16,667 | £19,559 | £266,667 |
Facility history
Continuous, auditable record from application to closure
10 Jul 2022
Facility drawn
£400,000 released to solicitor client account
10 Jul 2022
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
10 Jul 2022
DD mandates live
5 mandates confirmed with BACS bureau
10 Sept 2022
First collection
£20,750 collected and allocated
10 Nov 2022
Covenant test — Q1
DSCR 0.92x against 1.25x floor
10 Jan 2023
Direct debit failed
Funds moved to suspense, lender sweep stopped
10 Feb 2023
Arrears clock started — 66 days
Notice issued under Monitoring & Recoveries Policy
Credit profile
- Company number
- 09439418
- Sector
- Machinery
- Security
- Hybrid
- LTV
- 74%
- Leverage
- 3.8x
- DSCR
- 0.92x
- Drawdown
- 10 Jul 2022
- Grade
- G5/5
Lender allocation
Attribution held in the ledger
£54,042 outstanding
£49,885 outstanding
£54,042 outstanding
£49,885 outstanding
£54,042 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file