Senior warehouse facility A · £20m commitment · matures Mar 2029
October 2026 performance
Data as at 31 Oct 2026 23:59 · reconciled to ledger 2 Nov · next cut-off 30 Nov
Funded loan book
£12.80m
+£0.40m MoM
Drawn on facility
£10.88m
85% advance · £0.9m headroom
Live loans
1,412
avg £9,065 · 21 mo term
Weighted APR
14.2%
−0.1pt MoM
30+ arrears
2.1%
limit 4.0%
Annualised net loss
1.6%
pricing assumed 2.4%
Funded loan book · last 12 months
£m outstandingNovDecJanFebMarAprMayJunJulAugSepOct
New originations (Oct)
£1.21m · 118 loans
Repaid / settled
£0.81m · 64 loans
Charged off
£14,250 · 2 loans
Recoveries
£3,980
Investor returns
9.42%
net IRR since inceptionCoupon (SONIA 4.70% + 4.75%)9.45%
Interest paid YTD£842,610
Interest paid Oct£86,420
Principal returned YTD£8.31m
Cash-on-cash multiple1.09×
Missed / deferred payments0
Monthly interest received
Repayment flows · monthly
| Month | Due | Collected | Early settlements | Charge-offs | Principal to funder |
|---|---|---|---|---|---|
| Oct 2026 | £1,284,610 | £1,198,220 | £72,140 | £14,250 | £812,400 |
| Sep 2026 | £1,241,980 | £1,171,050 | £58,300 | £12,630 | £944,100 |
| Aug 2026 | £1,196,420 | £1,102,880 | £81,920 | £11,620 | £701,800 |
| Jul 2026 | £1,158,300 | £1,089,410 | £57,600 | £11,290 | £1,020,500 |
| Jun 2026 | £1,112,750 | £1,051,900 | £49,800 | £11,050 | £866,000 |
Collection rate Oct 98.7%Direct Debit success 96.9%Retries recovered £41,280
October cash waterfall
Collections received£1,284,610
Servicing fee (1.0% p.a.)−£10,670
Senior interest to Atlas Fund II (SONIA + 4.75%)−£86,420
Principal amortisation−£812,400
Reserve top-up (to 2.0%)−£4,210
Excess spread released to Harbour£370,910
Reserve account £256,000 (2.0% of book) · held at Barclays, account in funder's name.
Credit grade mix
Grade A£3.97m · 31% · loss 0.4%
Grade B£4.86m · 38% · loss 1.1%
Grade C£2.38m · 18.6% · loss 2.9%
Grade D£1.59m · 12.4% · loss 5.8%
Grade D cap 15% — currently 12.4% (watch).
Sector concentration
Construction & trades
22%
Healthcare
14%
Logistics
13%
Food & drink
12%
Retail
10%
Professional services
9%
Other
20%
Sector cap 25% · largest obligor 1.6% (cap 2.5%)
Covenants
30+ arrears≤ 4.0%2.1%Within
Single obligor≤ 2.5%1.6%Within
Grade D concentration≤ 15%12.4%Watch
Excess spread (3m avg)≥ 6.0%8.9%Within
Advance rate≤ 85%85.0%Within
Cumulative net loss≤ 5.0%2.3%Within
Loan book · sample of pledged loans
1,412 loans · names shown under NDA| Loan | Borrower | Grade | Original | Outstanding | APR | Status |
|---|---|---|---|---|---|---|
| HB-104882 | Northgate Joinery Ltd | B | £45,000 | £31,482 | 13.9% | Current |
| HB-104731 | Hollin Freight Ltd | A | £210,000 | £188,904 | 10.4% | Current |
| HB-104655 | Seaview Physio Partners | B | £120,000 | £96,330 | 12.6% | Current |
| HB-104512 | Brightwire Electrical | C | £32,000 | £21,870 | 17.9% | 1–29 days |
| HB-104399 | Ashby Veterinary Group | B | £75,000 | £58,120 | 12.9% | Current |
| HB-104208 | Marlow Print Studio | D | £9,800 | £7,940 | 22.4% | 30+ days |
Reports
Monthly investor report — Oct 2026
PDF · 38 pages · 4 Nov 2026
Loan-level data tape — Oct 2026
CSV · 1,412 rows · 4 Nov 2026
Borrowing base certificate #22
PDF · signed · 1 Nov 2026
Covenant compliance certificate Q3
PDF · signed by CFO · 15 Oct 2026
Stress test — base / mild / severe
XLSX · 15 Oct 2026
Monthly investor report — Nov 2026
Draft · due 4 Dec 2026
Read-only view for Atlas Credit Fund II. Figures are illustrative. Reconciliation queries: funders@harbour.co.uk