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Frank B.V.

presented by October Netherlands



48 months


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Groningen, Netherlands




Presentation of the company

Frank International BV is active in the e-commerce sector and managed by Reinier de Jonge (CEO) and Benjamin Derksen (COO), has 164 employees and is based in Groningen. Reinier de Jonge started the business in 2004 and has been running the business ever since. His business partner Benjamin joined the company in 2012 as COO.

The company’s main activities are:

  • Running over 250 webshops trading a large variety of products, divided into 4 main categories: Living & Interior, Sports & Outdoor, Cooking & Table and Toys & Hobby
  • Selling goods through these websops to both B2B and B2C customers in The Netherlands, Belgium, Germany, the UK, France, Denmark, Sweden, Austria, Ireland and Finland

On the independent review site they use, Trusted Shops, FrankNL gets an excellent 4,7/5 rating

Project Description

The company requests a loan of 1.000.000 € over 48 months to finance the development of their own brand products. This requires a long-term investment to follow the long term strategy of the company. This project will be realised in the next few months.  

The amount offered on the platform is limited to 490 000€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 22 911 000 € in 2017 and an experienced team, the company has a good track record combined with an acceptable operating margin.

Over the past years , increase of turnover is related to organic growth driven by a market positioning in niche markets and selected A-brands. Forecast is based on the 2018 performance and the business plan provided by the company.

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,63 and a strong financial structure, with a forecast net debt / ebitda ratio of 1,99 and a net debt / shareholder equity of 1,56%.

The analysis of the project leads to a credit rating of B+ and a 4.50% annual interest rate.

*The multiple of FCCR at 1,63 means that the company has a safety margin of 63% 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 (External data provider). 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.
  • Solid repayment ability with a forecasted FCCR of 1,63.
  • Operating in a growth market

Points of caution

  • Posible competition for large international players