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loanLoan
Capital at risk
24
Months
18.0%
apr
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Monthly repayments
£

OBL Aggregates & Excavation Ltd is a Grab Hire business based in West Yorkshire. In operation for over 8 years, OBL maintains a fleet of grabs of varying sizes as well as a staff of experienced drivers. They aim to provide a one-stop shop for clearance hardware for groundwork, as well as providing aggregates. Their director is an experienced Grab driver, and aims to continue filling a valuable market gap.

To be the best Grab Hire & Aggregates Retailer in Yorkshire

Looking for efficient site clearance and muck away services in West Yorkshire? Look no further! Our fleet of lorries and skilled drivers are at your disposal, offering flexible day rates and contract options to suit your requirements. We offer haulage and excavation services thanks to our aforementioned lorries and drivers, and on top of this we also sell hardcore to ensure that work can always continue as planned.

From initial site surveys to the final sweep, we provide a comprehensive start-to-finish service tailored to your specific site clearance and excavation needs. Our team is equipped with the latest machinery and vehicles, ensuring efficient and thorough execution of every project. The construction industry produces plenty of waste, all of which needs clearing and hauling. That is where we come in. With government plans to massively increase house building efforts, as well as a continuing demand for new construction work in other sectors, there is unlikely to be a shortage of work sites, nor a shortage of construction waste. Not only do we offer grab hire, but we also provide construction aggregates for groundwork. Whether it’s rubble, gravel, or sand that you need, we can help.

Whether you need a single machine and driver or a complete solution including trucks and sweepers, we’ve got you covered. Trust us to handle your site clearance needs with professionalism and precision. We believe in getting the job done right, which is why we pride ourselves on a skilled staff of operators and drivers to support any clients and meet their professional needs. We also understand that the construction industry needs to be more environmentally conscious in order to stay up to date. As a result, many of the aggregates we offer are recycled, and we maintain a high standard for disposal of construction waste.

Credit commentary:
The director Oliver Lannen is 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. 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 filled accounts for the company show a robust financial performance, with total EBITDA rising significantly from £109k in 2023 to £273k in 2024, comfortably surpassing the amount requested. This growth is supported by a 16% increase in turnover between 2023 and 2024, reflecting a healthy expansion in sales. Additionally, the company’s tangible net worth has improved, reaching £11k, which provides a physical asset to secure a borrowing facility. However, there is an 8.25% increase in trade debtors year-on-year, indicating the company is taking longer to collect payments from customers, potentially due to inefficiencies in the collection process. Despite this, the bank statements from previous months indicate a consistent and positive cash flow, with average balances in July maintaining around a five-figure number. The company’s Debt Service Coverage ratio is 1.41, suggesting adequate coverage of debt obligations, although the net gearing ratio above 50% indicates a high reliance on equity to finance operations. Current debts include obligations to Federals, BIZCAP, and LDF.

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

X

Business keeps the raised amount even if target is not met.
Loan - product type
Tranche (1 of 2)
£ 50k
Raised
£ 14k
Investors
61
Est close date
Funded 3 months ago in 29 days

Where will the funds go?

Debt settlement
£50,000

Key people

Oliver Barrie Lannen
Director

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Business brand

Cleckheaton, UK

"To be the best Grab Hire & Aggregates Retailer in Yorkshire"

Incorporated
8 years, 0 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.