Duty Free Concept #3

Presentation of the company

Created in 2010, Duty Free Concept is active in the duty free product sector. The company, managed by Philippe Perraud has 5 employees and is based in Paris. 

The company operates in France, Cameroun, Togo and Cote d’Ivoire.

The company’s main activities are:

• Sales of duty free products in airplanes.
• Sales of duty free products in airports shops.

The company works with 3 airlines and 4 airports.

Project Description

This company is experiencing a decrease in income as a result of COVID-19’s economic impact. To recover, the company needs credit. The credit will be used to cover the next 12 installments of the current loan giving the company cash to pay its operating expenses.

The French government supports this company with a State Guarantee. 90% capital lent 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 duty free concept in 2016 and 2018 with 250k€ and 259k€ € to finance shop openings in airport.

The amount offered on the platform is limited to 37.730€, which is in line with the regulatory limits.