Business Borrower
![[Image: mechanics4u]](/img/medium_thumb/UserAvatar/1.ea06b5eae27d268c1483ee63ab2425e7.jpg "mechanics4u")
mechanics4u
- Year Established:
- 17-09-2009
- Bigcarrots member since:
- 17-09-2009
- Number of CCJs:
- 0
Business Summary
Businesses Credit Rating
Affordability
Strength
This listing has Expired
Car body repair centre wanting to buy new equipment
- Loan Purpose
- Plant/Machinery
- Loan Amount
- £25,000.00
- Loan Term
- 36 Months
- Target Interest Rate
- 15.00 %
- Progress Bar
-
£1750 from 4 offers
- Listing Ends
- Listing expired
Company Profile
- For what purpose is the company borrowing
- We want to buy a new respray booth with state of the art ventilation system, these things are not cheap, but will help speed up the process and will allow us to do more cars in one day. We will add this to our existing booth and double our capacity.
- Why I think it is affordable
- We have some profits, I take most of my money as salary so the profit shown is what is left to reinvest in the business and for any dividends. Because we get good work I think it is affordable to expand right now.
- What the company does
- We are a car body repair centre in Leeds and we have been going for over 10 years now. The business went limited in 2003 and we repair cars that need body work doing from dents and bumpers to full resprays.
- Brief company history
- I have run this with other staff full time and part time for 10 years now, the company gets most of its work from insurance contracts that we have to pick up the customers car on a trailer, repairs done according to the insurance company specs get authorised for payment and quotes and return the car to the customer.
- No.of Directors
- 1
- No.of Employees
- 4
- Why support my business
- We have been trading for 10 years now and think that being well established we can service this loan, we have no other loans outstanding and have just finished payment of compressor system which was £210 per month for 12 months.
Business turnover and Business Costs
- Annual turnover
- 185,000.00
- Net Profit
- 23,000.00
- Gearing %
- 1.77%
Business Summary
We want to buy a new respray booth with state of the art ventilation system, these things are not cheap, but will help speed up the process and will allow us to do more cars in one day. We will add this to our existing booth and double our capacity.Lending offers
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