loanLoan
Capital at risk
36
Months
16.0%
apr
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Monthly repayments
£

Cardiff Marine Services, trading as the Marine Group, are a team of boating experts who provide a range of services to boat owners, sailors and the boating industry. Founded in 2007 with 2 engineers, Cardiff Marine has grown consistently, now with over 70 enthusiastic staff members. The team includes specialists in every area, from marina operations to engineering and harbour management. They are a returning client of Crowd2Fund, with excellent repayment history.

Providing a first class, reliable service to our customers

Striving for excellence, we provide a positive boating experience to sailors and boat owners. In 2007 Cardiff Marine was formed after purchasing Cardiff boatyard, a ‘lifestyle’ business that employed 2 engineers. Since then, we've seen consistent growth. We launched an industrial engineering service range, our Marine Services department was appointed as the preferred repair centre for major insurers and we introduced Harbour Management Services. We also bought Port Dinorwic Marina and additional land.

Our team's expertise and passion for the marine way of life led to our growth. We offer services from storage to maintenance & repair. We also buy and sell used boats, for first-time sailors or those looking to trade in their current boat for an upgrade. As well as being able to take advantage of our marinas with secure fob-only access, CCTV, and pontoons with electricity and fresh water, we also offer a dry stack option for those looking for a more cost-effective alternative to marina berthing.

Providing flexible solutions to our clients is of paramount importance and we believe this is why we've built a positive reputation within the industry and why we see many returning and long-term clients. As we enter a phase of further expansion we are looking for funds for working capital.

Credit commentary:
The directors are providing a personal guarantee, this means that if the business fails, the directors become personally liable for the loan. The directors are homeowners, however, this does not ensure there are sufficient assets should the loan need to be recovered. The company advised that they are currently being restructured. The Equifax score and grade was based on 2020 filed accounts. We have performed our assessment on recent financial information, including 2022 group management accounts, which were not available to Equifax. The management accounts show that net equity was £31,859,097 as at August 2022. There are some credit policy exceptions as the main shareholder resides outside of the UK, one director had a recent delinquency on their credit card, and there are recent insolvencies in organisations that the directors have major control in. The financial accounts are self-prepared and unaudited. The bank statements demonstrate reasonable affordability and the accounts remain well in credit.

Inflation risk:
The company has been affected by higher input costs, but they are less exposed than average as their business mainly features fixed costs. Furthermore, energy costs are passed onto customers. Despite increasing living costs, the directors do not expect to draw dividends or salaries from the business for the next 12 months as all capital is vital for the growth of the business. As the majority of lending to the business is at a variable rate, they might be more exposed to interest rate increases. The business advised that there is currently a high marina berthing demand, which provides an opportunity for inflation to drive revenue above their forecasts.

X

Business keeps the raised amount even if target is not met.
Loan - product type
Maximum
£ 150k
Raised
£ 0
Investors
0
Est close date
Coming Soon

Where will the funds go?

Working Capital
£75,000
Expansion
£75,000

Key people

Christopher Odling Smee
Secretary

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Business brand

Cardiff, UK

"Providing a first class, reliable service to our customers"

Incorporated
43 years, 10 months

Risk warning

Past performance and forecasts are not reliable indicators of future results. Your capital invested is not covered for compensation in the event of a loss by the FSCS. Tax treatment will depend on the individual circumstances and may be subject to change. Please see our Risk section before making an investment decision.