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loanLoan
Capital at risk
36
Months
16.5%
apr
Capital at risk
Amount
£
You make
£
Minimum investment is £100
Total return
£
Monthly repayments
£

Manna Housing Ltd is a provider of Supported Living Services, currently an approved provider by Waltham Forest and Redbridge councils. Led by a career Osteopath, Manna aims to provide support to enable vulnerable adults aged 18 to 65 to gain stability in the community and increase their independence, facilitating positive outcomes that fulfil their housing and support-related needs. They are planning to expand their facilities throughout the East and North East London and boroughs in Essex.

To provide a safe, nurturing and stimulating environment for our service users.

Manna Housing was born opportunely to benefit the needs of the community with mental and physical health support needs. We use an innovative service model to deliver a holistic approach to enhance recovery and promote independence. I am a qualified and registered osteopathic healthcare professional, and before starting Manna I spent 12 years running a joint venture/family business, giving me a solid foundation on which to build Manna.

The management team at Manna Housing believe passionately in the benefits of a holistic approach to recovery and aims to create a vibrant community hub; promoting a way of life that gives people as many opportunities as possible to remain mentally, physically, spiritually and socially active. The Local Authorities in East London have a reviewed target of providing 20% more homes at Local Housing Authority (LHA) rate, with support services to individuals who need help with day-to-day activities and help them to reach their personal goals. There is also a need for more community / day activity and retreat services for people with additional needs to attend and re-skill. Retreats and wellbeing centres offer a range of well-being and holistic care services and case studies have shown that they reduce stress, relapses and enhance the mental and physical wellbeing of people, including those with additional needs. This is where Manna Housing comes in.

Manna Housing Group aims to provide support to enable vulnerable adults aged 18 to 65 to gain stability in the community and increase their independence, facilitating positive outcomes that fulfil their housing and support-related needs. We aim to provide a safe, nurturing and stimulating environment for our service users, with purpose-led activities that improve their quality of life and integrate them into the community through live-in and day retreats/wellbeing centres. Our accommodations provide self-contained, ensuite rooms to promote independence and dignity for our residents. Through this model of care and support, our mission is to expand Manna Housing throughout the East and North East London and Essex Boroughs through franchises.

Credit commentary:
The directors Esther and Russel Donaghey are providing a personal guarantee, which means should the business fail and have insufficient assets within the business to repay the loan, we can look to the guarantor(s) to repay any shortfall on repayment. Additionally, the business is offering a debenture to secure the repayment of the loan.There have been no CCJs for the business or director. Our assessment of risk is that there have been no CCJs for the business or director. The Equifax score and grade, which we use to assess risk, are based on the 2023 accounts.The company is financially strong, with total EBITDA of £125k and £72k, covering all obligations. Turnover increased by 3.37% from 2023 to 2024, indicating the need for additional funding to support growth. The company’s stability is underscored by an increase in TNW to £38k and a DSC of 9.42. Effective capital raising is evident in the rise in net cash from financing activities. The company’s liquidity is supported by consistent and positive cash flows. Current debt with Funding Circle is substantial, and retained earnings in 2023 stand at £38,335, showcasing the company’s profitability and prudent financial management.

Inflation risk:
The company has stated that inflation will not affect their business. Since the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases.

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Business keeps the raised amount even if target is not met.
Loan - product type
Maximum
£ 109k
Raised
£ 50k
Investors
157
Est close date
Funded 7 days ago in 29 days

Where will the funds go?

New Property Renovation
£62,000
Equipment and Furnishings
£18,000
Franchise Marketing
£4,000
Social media, website updates, with professional photography
£6,000
Set-up of community wellbeing retreat and holistic services including the hire, recruitment of healthcare professionals and therapists for 12 months.
£10,000

Key people

Esther Evelena Donaghey
Director

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Business brand

London, UK

"To provide a safe, nurturing and stimulating environment for our service users."

Incorporated
5 years, 7 months
Credit risk indicator

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.