Facility
£1,000,000
Current balance
£823,355
All-in rate
9.75%
Term
72 months
Days past due
—
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Receipt £22,014
→Fees & charges
£440
Accrued interest
£8,125
Principal
£13,449
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 | 08 Jun 2026 | £8,125 | £13,889 | £22,014 | £986,111 |
| 2 | 08 Jul 2026 | £8,012 | £13,889 | £21,901 | £972,222 |
| 3 | 08 Aug 2026 | £7,899 | £13,889 | £21,788 | £958,333 |
| 4 | 08 Sept 2026 | £7,786 | £13,889 | £21,675 | £944,444 |
| 5 | 08 Oct 2026 | £7,674 | £13,889 | £21,563 | £930,556 |
| 6 | 08 Nov 2026 | £7,561 | £13,889 | £21,450 | £916,667 |
| 7 | 08 Dec 2026 | £7,448 | £13,889 | £21,337 | £902,778 |
| 8 | 08 Jan 2027 | £7,335 | £13,889 | £21,224 | £888,889 |
Facility history
Continuous, auditable record from application to closure
08 May 2026
Facility drawn
£1,000,000 released to solicitor client account
08 May 2026
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
08 May 2026
DD mandates live
2 mandates confirmed with BACS bureau
08 Jul 2026
First collection
£22,014 collected and allocated
08 Sept 2026
Covenant test — Q1
DSCR 2.10x against 1.25x floor
Credit profile
- Company number
- 07449366
- Sector
- Transportation
- Security
- Asset Backed
- LTV
- 71%
- Leverage
- 2.3x
- DSCR
- 2.10x
- Drawdown
- 08 May 2026
- Grade
- G3/5
Lender allocation
Attribution held in the ledger
Northgate Capital52.0%
£428,145 outstanding
Selwyn Nominees48.0%
£395,210 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file