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BH Partners

presented by October France

€208,000

6.7%

48 months

C

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location

Location

Rungis, France

activity

Activity

Commerce

Presentation of the company

Created in 2013, Easymeal is active in the retail food sector. The company, managed by Georges Badra, has 30 employees and is based in Rungis.

The company’s main activity is: the sale of food products via vending machines.

The company works with with student residences, hotels, companies, or incubators.

The company stands out by offering vending machines for microwaveable dishes served hot, accessible 24 hours a day, 7 days a week.

The company is present in the regions of Ile de France, PACA, Rhones-Alpes and Occitanie.

Project Description

The company requests a loan of 208 000 € over 48 months to finance the purchase of new automatic vendors machines. This project will be realised this quarter.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

The amount offered on the platform is limited to 101920€, which is in line with the regulatory limits.

Like all projects presented to individual lenders on Lendix, it is co-financed with institutional investors, sophisticated investors, and Lendix management, subscribers to the Lendix Fund.

Analyst’s Opinion

With a turnover of 1 605 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

Overs the 3 last years, the increase of turnover is linked to organic growth. The forecast is based on previsional 2018.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,72 and an excellent financial structure, with a forecast net debt / ebitda ratio of 1 and a net debt / shareholder equity of 27%.

The analysis of the project leads to a credit rating of C and a 6,70% annual interest rate.

*The multiple of FCCR at 1,72 means that the company has a safety margin of 72% relative to its ability to repay its credit maturities.

The expert opinion is given as an indication on the basis of the elements provided by the project holder and information from our databases (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

Strong points:

  • Good historical performance based on diversified client base.
  • Good repayment ability with a forecasted FCCR of 1,72.
  • Strong reputation.

Points of caution:

  • Fast growing company.