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Kronos 360 #2

presented by October France

€150,000

2%

12 months

B

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location

Location

Paris, France

activity

Activity

Commerce

Presentation of the company

Created in 2012, Kronos 360 is active in thel sale of watches. The company, managed by Pascal Paul has 3 employees and is based in Paris.

The company’s main activities are:

  • Sale of watches in a showroom
  • Sale of watches on the internet

Covid 19 impacted the activities with showroom being closed during the crisis.

Project Description

The company requests 150.000€ to ensure continuity following the impact of the COVID-19 crisis on its activity.

This company is experiencing a decrease in income as a result of COVID-19’s economic impact. To ensure it’s continuity, the company needs liquidity. The credit can be used, for example, to invest in new business channels or to keep paying fixed costs until business activities pick up again.

The French government supports this company with a State Guarantee. 90% of the principle 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 4,46% will then be applied.

The company has already been financed by October in 2015 for 200k€ finance the marketplace.

The amount offered on the platform is limited to 73.500€, which is in line with the regulatory limits.