loanLoan
Capital at risk
36
Months
12.5%
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.

Whatever the project, we’ve got you covered

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.

Covid Resilience:
The general findings of surveys show that the majority of construction related businesses have been hit hard by COVID-19. Spanish Slate Quarries UK Ltd has moved through challenges presented and is proving good resilience.

Credit Commentary:
The director is providing a personal guarantee and indemnity. This means that if the business fails to make payments on the loan the director will be liable to make the payments or settle the loan. The director is a homeowner, however this does not ensure there are sufficient assets should the loan need to be recovered. A guarantee and indemnity is to be taken from Zavric Investments Ltd. This means that if the business fails to make payments on the loan then the guarantor will be liable to make the payments or settle the loan. This is a company registered in the Isle of Man and its main asset is the property form where Spanish Slate Quarries UK Ltd trades in London. We are advised by the Director that there is a temporary legal charge secured on the property in favour of Nucleus Commercial Finance Ltd and a debenture over all assets and that Zavric Investments Ltd has not provided any other guarantees. However, Zavric Investments Ltd may grant further guarantees or security over the property in the future and this may mean that the loan may not be recovered from this source. Although Zavric Investments Ltd is registered in the Isle of Man the guarantee and indemnity is written under English Law. This means that the security can be enforced through the English Courts. We are also benefiting from the guarantees and indemnities of the following connected companies: SSQ Global Holdings Ltd, SSQ Europe Ltd and SSQ Overseas Ltd. This means that if the business fails to make payments on the loan these companies will be liable to make the payments or settle the loan. There may be insufficient assets in these companies to cover the loan. There is a debenture over the assets for the company. This will mean that the secured creditor will rank ahead of the loan if the company is subject to an insolvency action. There have been no CCJs for the business or directors. The bank statements demonstrate reasonable affordability.

X

Business keeps the raised amount even if target is not met.
Loan - product type
Tranche (2 of 2)
£ 91k
Raised
£ 36k
Investors
119
Est close date
Completed

Where will the funds go?

Expansion
£45,000
Stock
£46,000

Key people

Ahmed Haroun El-helw
Director

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Business brand

London, UK

"Whatever the project, we’ve got you covered"

Incorporated
9 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.