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loanLoan
Capital at risk
36
Months
17.5%
apr
Director
guaranteed
Capital at risk
Director guaranteed
Amount
£
You make
£
Minimum investment is £100
Total return
£
Monthly repayments
£

We’re thrilled to have Spanish Slate Quarries return, they’re an existing client, having done multiple rounds on the platform with perfect repayment history. Ahmed founded Spanish Slate Quarries UK Ltd over forty years ago. He spotted a gap in the market for beautiful, natural slate and quickly became the first company to import quality slate into the UK market from their Argentinian quarry. They now supply to homeowners, architects, contractors, and heritage projects.

To be Britain's foremost importer of high-quality slate.

Natural slate is deemed as the most cost-effective roof-covering material on the market and we've successfully tapped into this market. Our founder and director, Ahmed, had the bright idea to import our quality roofing slate into the UK over forty years ago, and thereon we experienced great success as Spanish Slate Quarries. We now operate on a global scale, with teams posted in twenty-two countries, primarily in Spain and Argentina. The latter is where you can find our quarry, which is 1,560 million years old and situated between the stunning Pampas and Andes in La Repressa.

We're passionate about our material: every single one of our slates are split by hand - and we have a minimum holding of 2 million at any given time! We stock seven varieties of slate as well as a revolutionary phyllite material known as Riverstone Architectural, which is only available from a handful of source worldwide. As the first company to import these kind of of slates into the UK market, we are in high demand with a variety of customer bases, from contractors to architects, homeowners to local authorities. All of our slate comes with a 100 year guarantee and access to our expert resource centre and product support services. Examples of our successful projects include The Cowyards in Oxfordshire, the Hilton in Helsinki, and the Grand Lisboa in Macau.

Our growth has been phenomenal over the past few years. We are returning on this 4th round with Crowd2Fund, having had 7 years with a perfect repayment history. This round the money raised will be used to finance further stock purchases, machinery and to continue to keep up with our growing client list. As we move into our busier season and with our showroom opening up we are excited about the next phase of development and look forward to offering investors the opportunity to join us on this expansion.

Credit Commentary:
The director Vildan Haroun and Ahmed Haroun El-Helw 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. 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 financial data presented, verified by an independent accounting firm, confirms the accuracy of the figures. The company reported a significant increase in EBITDA from £168k in 2022 to £1.63M in 2023, demonstrating strong financial growth well above the requested amount. Despite a 19% decrease in turnover from 2022 to 2023, the company’s net tangible worth increased to £5M by 2024, providing substantial physical assets to secure a borrowing facility. Improvements in credit days indicate enhanced efficiency in debt repayment. The decrease in stock levels from £8.26M in 2022 to £7.29M in 2024 suggests effective inventory management. Consistent and positive cash flow from recent bank statements underscores the company’s capacity to repay new loans. Although the net gearing ratio is high at 117%, indicating a reliance on debt financing, the steady increase in retained earnings, now at £5M, reflects a robust profit retention strategy. The company maintains existing debts with Bizlend, LDF Finance, and White Oak, alongside a mortgage with White Oak N.6. Overall, the financial stability and effective management practices highlight the company’s ability to secure and service additional debt.
The company has two outstanding debts with C2F, and the repayments for each of them have been up to date.

Inflation Risk:
The company has stated that they pass on any price increases to our customers every year, and the customers accept this as normal in their industry. The Quarries increase prices by 5-7% every year, and this cost is passed on to the customers. Additionally, their stock value increases annually and is nonperishable.

X

Business keeps the raised amount even if target is not met.
Loan - product type
Tranche (1 of 3)
£ 130k
Raised
£ 59k
Investors
141
Est close date
Funded 2 months ago in 28 days

Where will the funds go?

Working Capital
£130,000

Key people

Ahmed Haroun El-helw
Director
VH
Vildan Haroun El-helw
Director

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Business brand

London, UK

"To be Britain's foremost importer of high-quality slate."

Incorporated
11 years, 5 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.