As one door closes, another opens. The £500,000 B-rated loan offer by soft furnishings manufacturer, Ultimate 99, is 81 per cent funded, and will close in nine days. Meanwhile, we are pleased to welcome a new £500,000 loan offer on site.
Globavista has obtained an A rating from our credit-analysis process, and is seeking a four-year loan. The indicative gross yield is currently 8.5 per cent.
Below, we reproduce some of the detail about the loan. We have used our best efforts to ensure that this information is correct, but we do not warrant that this is the case. These representations come to you directly from Globavista. To see the full loan offer detail, you need to register or login.
"[Globavista] commands an international reputation for developing sophisticated asset monitoring solutions in remote, secure and/or hostile environments, be it 1,500 miles offshore, on mountain peaks or in desert environments. Its clients include DEFRA, Heathrow Airport, the Volvo Ocean Race, British Aerospace and the Kuwaiti security forces. Globavista was originally born out of the Racal defence business 30 years ago and has been a cash-cow for a series of technology companies ever since, most recently Masternaut Ltd.
"Globavista trades with 100+ clients on a recurring basis; initially on a project basis and supported by service contracts for years thereafter. Such support contracts are customarily renewed by reflex. Sercel is the single largest customer contributing 35 per cent of sales on the back of a 7 year contract which will be renewed. AON has agreed to pay a premium for exclusive rights to distribute Globavista technology for application in kidnap/recovery insurance operations as they think it is a powerful differentiator for them.
"Globavista has contracted orders of £1.6M over the next 4+ years backed up by a £15 million pipeline of well qualified prospects. The order book and the prospect pipeline is expected to support growth of 10 per cent in 2015 and accelerating as sales of Globavista's Big Data applications prosper with the growth of the Internet of Things. Globavista is adept at helping organisations interrogate their extremely large and unwieldy data sets (Big Data) for the gems of intellegence that drive shareholder value. This capability is powerful against the backdrop of the Internet of Things (inanimate objects communicating with other inanimate objects without human intervention), an enormous market ranging from smart televisions to F1 racing cars to satellites growing at 35 per cent p.a."
*** It is very important that lenders appreciate that, while we vet loan offerings very carefully, lending carries risk. Please read the risk warnings on our Home page, and in our Frequently Asked Questions. See also this video, which explains more about lending, including the potential benefits of spreading capital across a range of loans to lower risk.