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Engine2repair B.V.

presented by October Netherlands

€158,000

4.75%

24 months

A

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location

Location

Farmsum, Netherlands

activity

Activity

Marketing surveys & consulting

Presentation of the company

Created in 2013, Engine2repair B. V. is active in the shipping sector. The company, managed by Johannes Zwerwer has 11 employees and is based in Farmsum. Engine2repair is specialised in the revision and repair of larger marine engines.

The company’s main activities are:

  • revision of marine engines.
  • repair of marine engines.
  • supply of spareparts for engines.

The company works with suppliers all over the world and larger shipping companies in North Europe.

The company’s engineers travel all over Europe and North America to repair ships when these are docked. Most of these revisions and repairs are planned but the company also helps out in times of emergency. Planned revisions and repairs can also be done at the company’s location in Farmsum.

Project Description

The company requests 158. 000 € with 6 months of deferred repayment to finance the purchase of spare parts to restore inventory levels. This project will be realised in the next few months.

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 6 months, the lenders will only receive interest; the following 18 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 77420€, which is in line with the regulatory limits.