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
£

Established in 1998 Prestige Roofing Services Ltd is well-known in the construction industry, working for many of the major house builders. They have approximately 50 + subcontractors working on at least 15 live sites of usually 200+ units each. They are currently seeking funds for materials and working capital.

We pride ourselves on giving a well-organised and safe service and endeavour to work with our clients to provide a quality end product.

I have been in the construction industry for over 40 years. Since then, we have grown from a small roofing company to a business with approximately 50 + subcontractors working on at least 15 live sites, usually 200+ units each, at any one time for the major housebuilders. We offer a wide range of services such as roof tiling and slating works, roof-associated leadworks and fibre-glass flat roofing. Some of our past and present clients include Berkeley Group, Barratt Homes, Bellway, Crest Nicholson, Bovis & Linden Homes (now Vistry), Cala, McCarthy & Stone, Redrow, Persimmon and Taylor Wimpey.

We have built a list of long-term and repeat clients and seen our company go from success to success. Our growth derives from our dedication to providing the highest-quality service, combined with our expert roofing solutions. We’ve seen many sites through, from phase one to completion, some projects spanning many years. For example, Edenbrook/Grove Farm in Fleet was a ten-year project, and Kennet Island in Reading took seven- years. Recently we were also awarded PH9, Harvest Ride in Warfield, which is a great endorsement, proving customer satisfaction.

The mission of the company has been to provide an efficient, safe and high-quality roofing solutions service. Our teams are highly skilled and respected within the industry and have helped us grow Prestige Roofing Solutions into what it is today. We are thrilled to bring you this opportunity to invest as we seek funds for materials and 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 did not have a website prior to their application for a loan from Crowd2Fund as they mentioned that they have worked for major house builders for approximately 25 years so have never needed one. Crowd2Fund requested that the company create a website as a condition to a loan offer. The Equifax score and grade, on which we base our assessment of risk, are based on the 2021 accounts. We have performed our assessment on recent financial information, including 2022 filed accounts, which were not available to Equifax. The bank statements demonstrate reasonable affordability and the accounts remain well in credit.

Inflation risk:
The business advised that they are affected by higher input costs but they receive a fixed site price for materials such as tiles, which is usually held for around 6-12 months. Therefore, the costs to clients are maintained during this period and then reviewed. As the majority of lending to the business is at a fixed rate, they will not be immediately affected by interest rate increases. The directors are taking steps to reduce their outgoings and do not expect to draw money much from the business. Prestige Roofing Services Ltd advised that they do not expect inflationary pressure to impact production too much as the majority of their sites have large elements of Housing Association/Social Housing which needs to be built. Furthermore, their tenders are held for a set amount of time so costs will be reviewed.

X

Business keeps the raised amount even if target is not met.
Loan - product type
Maximum
£ 106k
Raised
£ 7k
Investors
28
Est close date
24d 3h

Where will the funds go?

Materials
£53,192
Working Capital
£53,191

Key people

BM
Bob Mcgrath
Director

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Business brand

Berkshire, UK

"We pride ourselves on giving a well-organised and safe service and endeavour to work with our clients to provide a quality end product."

Incorporated
16 years, 9 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.