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Inks #3

presented by October France



48 months


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Toulouse, France



Information & Communication

Presentation of the company

Created in 2008, INKS is active in the computer equipment sector. The company, managed by Ghislain Pons, has 30 employees and is based in Toulouse. Inks is the parent company of Docteur IT, a brand licensing network specializing in the repair of electronic equipment. In the end of 2018, the network consisted of 115 stands located in shopping centres in France.

The company’s main activities are:

  • Wholesale of electronic spare parts.
  • Repair of computer objects (phones, computers, cameras, etc.) and sale of accessories.

The company works with many professionals via its own website chronospare.com and private customers, via 3 Docteur IT stands located in shopping malls and 2 shops, all owned by the company.

Project Description

The company requests a loan of 270 000 € over 48 months to finance the opening of 6 new boutiques. This project will be realised by the end of the year.

As a reminder, the October lending community supported Inks in March 2018 and April 2018 with 52 000 € and 147 000 € to finance the openings of new shops.

The amount offered on the platform is limited to 132 300€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 7 524 000 € in 2018 and an experienced team, the company has a good track record combined with a strong operating margin.

The increase of the revenue is linked to the open of new shops and the development of the activities. The repayment capacity in 2018 is linked to the financing of the network of Docteur IT. The forecast is based on the average of the last years performance.

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,5 and an excellent financial structure, with a forecast net debt / ebitda ratio of 1,2 and a net debt / shareholder equity of 68%.

The analysis of the project leads to a credit rating of B+ and a 5,35 % annual interest rate.

*The multiple of FCCR at 1,5 means that the company has a safety margin of 50% 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 1,5.
  • Good history of the manager present in the IT sector for more than 20 years.

Points of caution:

  • Competitive sector.