Facility
£5,500,000
Current balance
£2,201,445
All-in rate
8.50%
Term
24 months
Days past due
—
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Receipt £268,125
→Fees & charges
£5,363
Accrued interest
£38,958
Principal
£223,804
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 | 17 Oct 2024 | £38,958 | £229,167 | £268,125 | £5,270,833 |
| 2 | 17 Nov 2024 | £37,335 | £229,167 | £266,502 | £5,041,667 |
| 3 | 17 Dec 2024 | £35,712 | £229,167 | £264,878 | £4,812,500 |
| 4 | 17 Jan 2025 | £34,089 | £229,167 | £263,255 | £4,583,333 |
| 5 | 17 Feb 2025 | £32,465 | £229,167 | £261,632 | £4,354,167 |
| 6 | 17 Mar 2025 | £30,842 | £229,167 | £260,009 | £4,125,000 |
| 7 | 17 Apr 2025 | £29,219 | £229,167 | £258,385 | £3,895,833 |
| 8 | 17 May 2025 | £27,595 | £229,167 | £256,762 | £3,666,667 |
Facility history
Continuous, auditable record from application to closure
17 Sept 2024
Facility drawn
£5,500,000 released to solicitor client account
17 Sept 2024
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
17 Sept 2024
DD mandates live
1 mandate confirmed with BACS bureau
17 Nov 2024
First collection
£268,125 collected and allocated
17 Jan 2025
Covenant test — Q1
DSCR 1.91x against 1.25x floor
Credit profile
- Company number
- 04994620
- Sector
- Commercial Services
- Security
- Hybrid
- LTV
- 43%
- Leverage
- 1.6x
- DSCR
- 1.91x
- Drawdown
- 17 Sept 2024
- Grade
- G2/5
Lender allocation
Attribution held in the ledger
Northgate Capital100.0%
£2,201,445 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file