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Cotélac #3

presented by October France



12 months


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Douvres, France




Presentation of the company

Created in 1990, Cotélac is active in the clothing design and retail sector. The company, managed by Pierre Pernod and Raphaëlle Cavalli has 295 employees and is based in Amberieu en bugey. 

The group is composed of an holding (PPO) and a main company (Cotelac). There are also some subsidiaries for foreign shops.

The company’s main activity is the sales of clothes in physical shops, partners, and on Internet.

The company works with retails customers and professional distributors.

Project Description

The company requests 1 327 000 € with 12 months of deferred repayment to finance to ensure continuity following the impact of the COVID-19 crisis on its activity. 

This company is experiencing a decrease in income as a result of COVID-19’s economic impact. To ensure it’s continuity, the company needs liquidity. The credit can be used, for example, to invest in new business channels or to keep paying fixed costs until business activities pick up again. The French government supports this company with a State Guarantee. 90% of the principle is secured. If the company cannot repay the loan, the state will partially repay lenders on behalf of the company. Thereby, the government makes it safer for lenders to lend. This state guaranteed loan is initially a 12 month differed loan with payment of 2% interests and capital at the end of the loan. After 12 months the borrower can (partially) repay the loan. If (part of) the loan is not repaid, the borrower will repay the loan over a period from 1 to 5 years. A new interest rate of 4. 91% will then be applied.

As a reminder, the October lending community supported Cotélac in 2018 with 342 000 € to finance recruitment, process improvement, development of Internet sales and 1 759 000 € nance the partial refinancing of debt. During the health crisis, the October community granted a 6-month capital freeze.

This project is a medium-term loan with a capital amortisation deferment and as such presents a different method of capital repayment than standard projects. The first 12 months, the lenders will only receive interest; the following 60 months, the lenders will receive interest and principal amortization. This principal repayment profile matches the borrower’s financing needs while allowing lenders to earn a higher amount of interest.

The amount offered on the platform is limited to 650.230€, which is in line with the regulatory limits.