loanLoan
Capital at risk
24
Months
11.0%
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Monthly repayments
£

Established for more than 40 years the award-winning 606 Club is widely recognised as one of the UK's most important live music venues. They have a strong reputation as one of the most popular music venues in London thanks to their appreciation and display of local talent, mixed with a chilled 'speakeasy' atmosphere. The 606 Club is now looking to raise its profile even further, with investment in promotion, marketing, and a live streaming portal featuring the Club's unique atmosphere with a view to monetising the 606 Club experience world wide.

Presenting the finest British live music since 1976.

Having started from humble beginnings as a 30-seater basement venue, and equipped with a passion for creating a relaxed atmosphere for jazz musicians and aficionados alike, 606 Club has paved the way for some of Britain's most talented artists to showcase their work. Putting on a mix of Jazz, Soul, R&B, Latin, Indie and Gospel 7 nights a week 51 weeks of the year, those who choose to join us in appreciating local musical talent can also take advantage of the imaginative and varied menu, which includes freshly-prepared fish dishes and Welsh rack of lamb.

We have seen our club outgrow its original surroundings situated at 606 Kings Road, to expand into a 120-seater venue in 90 Lot's Road. Some of the most well-known musicians in the British jazz scene have delighted and entertained our patrons before going on to have a bright future in the industry including: Jason Rebello, Liane Carroll, and Jamie Cullum, who describes our club as "London's best music venue". Our live music isn't just limited to our club though, with upcoming events including our "Jazz on the Lawn" show at Fulham Palace taking place this summer.

Over the last few decades we have prided ourselves on showcasing the best British and UK-based musicians, and want to reach out to even more people to experience the unique vibes and talent that our venue has to offer. To do this, we are looking for investment into our promotion and marketing, as well as introducing a live streaming portal to our website, which will allow us to monetise the 606 Club experience worldwide.

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Business keeps the raised amount even if target is not met.
Loan - product type
Tranche (1 of 2)
£ 50k
Raised
£ 41k
Investors
286
Estimated close date
Funded 11 days ago in 11 days

Where will the funds go?

Promotion and marketing
£10,000
Website maintenance and upkeep
£8,000
Loan consolidation
£32,000

Key people

Stephen Mark Rubie
Owner

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A. No, no changes in people per se. Two members changed their addresses which needed to be updated and very sadly we lost two members (independently) to illness, which needed to be noted, The rules of the LLP are that deceased member's holdings remain within the current membership (i.e. current members will purchase them), so no new members or significant membership changes.

A. I have underwritten the debt from my (fairly extensive) personal assets. The Business itself is profitable and successful but my overall indebtedness was affected by the downturn in 2008. I have been working my way through that debt, which has reduced significantly so this loan is for cash flow and expansion. All debts are personally secured so the Club and any debts are effectively ring fenced.

A. Saving money, it's to pay down a more expensive, shorter term, loan. Plus to move in to setting up a live streaming portal which I have a plan to monetize..

A. No, I don't own the premises but we do have a protected lease (within the act), hence us being in the same premises for more than 30 years. The only business liabilities are normal trading liabilities (suppliers etc). HMRC up to date, rent & rates up to date.

A. Our Financial year finishes at the end of April so we are still collating information to produce final accounts for 18/19. Is there any other information I could supply that may help?

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Business brand

London, UK

"Presenting the finest British live music since 1976."

Incorporated
12 years, 0 months
Equifax score
30 / 100
Equifax Grading
powered by Equifax
Lower than average score
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