Herederos Tabernillas SL

Presentation of the company

Created in 2016, Herederos Tabernillas S.L. is active in the restaurant sector. The company, managed by David Alvarez, has 8 employees and is based in Zaragoza. The company manages two restaurant-bars in very good locations in the city center of Zaragoza.

The company’s main activity is on site food and beverages.

The company works with more than 150 daily customer through "Tabernilla de Sagasta" a renovated tapas-bar and recently opened cafe-bar "Meraki".

Project Description

The company wishes to borrow 90 000 € over 36 months to finance the refurbishment of the kitchen. This project will be realised next month.

The amount offered on the platform is limited to 44 100€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 1 246 971 € in 2017 and an experienced team, the company has a good track record combined with a strong operating margin.

Increase of turnover mainly driven by an increase of tourism in the area and start activity of Meraki. The forecast is based on the performance of 2017.

The borrower has an excellent repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 2,07 and a good financial structure, with a forecast net debt / ebitda ratio of 1,01 and a net debt / shareholder equity of 122%.

The analysis of the project leads to a credit rating of B+ and a 4,80% annual interest rate and has the personal guarantee of David Alvarez and Jorge García.

Strong points:

• Good historical performance based on diversified client base.
• Excellent repayment ability with a forecasted FCCR of 2,07.
• Excellent location

Points of caution:

• Competitive market

*The multiple of FCCR at 2,07 means that the company has a safety margin of 107% 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 (Informa, Asnef). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.