Facility
£4,000,000
Current balance
£3,007,445
All-in rate
8.50%
Term
72 months
Days past due
—
Repayment waterfall
How the next receipt is applied, per Formance ledger configuration
Each tranche is then attributed across 3 lender positions as a ledger fact — no batch recomputation.
Amortisation schedule
First eight periods
| # | Due | Interest | Principal | Total | Closing balance |
|---|---|---|---|---|---|
| 1 | 03 May 2021 | £28,333 | £55,556 | £83,889 | £3,944,444 |
| 2 | 03 Jun 2021 | £27,940 | £55,556 | £83,495 | £3,888,889 |
| 3 | 03 Jul 2021 | £27,546 | £55,556 | £83,102 | £3,833,333 |
| 4 | 03 Aug 2021 | £27,153 | £55,556 | £82,708 | £3,777,778 |
| 5 | 03 Sept 2021 | £26,759 | £55,556 | £82,315 | £3,722,222 |
| 6 | 03 Oct 2021 | £26,366 | £55,556 | £81,921 | £3,666,667 |
| 7 | 03 Nov 2021 | £25,972 | £55,556 | £81,528 | £3,611,111 |
| 8 | 03 Dec 2021 | £25,579 | £55,556 | £81,134 | £3,555,556 |
Facility history
Continuous, auditable record from application to closure
03 Apr 2021
Facility drawn
£4,000,000 released to solicitor client account
03 Apr 2021
Conditions precedent satisfied
Debenture, personal guarantee and legal opinion received
03 Apr 2021
DD mandates live
3 mandates confirmed with BACS bureau
03 Jun 2021
First collection
£83,889 collected and allocated
03 Aug 2021
Covenant test — Q1
DSCR 1.62x against 1.25x floor
Credit profile
- Company number
- 12283186
- Sector
- Software & Services
- Security
- Cash Flow
- LTV
- 60%
- Leverage
- 2.3x
- DSCR
- 1.62x
- Drawdown
- 03 Apr 2021
- Grade
- G2/5
Lender allocation
Attribution held in the ledger
£1,028,863 outstanding
£949,719 outstanding
£1,028,863 outstanding
Documents
- Facility agreement (executed)On file
- Debenture & MR01 filingOn file
- Completion statementOn file
- Valuation reportOn file
- Personal guaranteeOn file
- Latest management accountsOn file