L’Indiana

Warning

Unfortunately, you cannot lend to this project.

Why? Why? This project* does not fall within the regulatory framework of Lendix IFP, defined by the ordinance of 30 May 2014 (ordinance on participatory financing). It is therefore not offered to individual lenders as part of participatory financing.

According to the Ordinance of 30 May 2014, a project consists of a purchase or a set of purchases of goods or services contributing to the completion of a predefined transaction in terms of purpose, amount and timetable.

Presentation of the company

Founded in 1994, Indiana, whose trade name is "Kilkenny", is a pub. The company, managed by Stéphane Brunet, has 5 employees and is based in Pornichet. The "Kilkenny" is famous in the city’s busiest place. The current owners have been running the bar since 2012.

The company’s main activity is the sale of beverages.

The company works with clients in Pornichet, St Nazaire and La Baule.

Project Description

The company wishes to borrow 47 000 € over 36 months to finance repayment of shareholder loan. This project will be realised by the end of the year.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

Analyst’s Opinion

With a turnover of 378 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

On the last 3 years, the increase of turnover is linked to the fidelization of current customers and the increase of tourism in the area. The forecast is based on the performance of 2017.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,56 and an excellent financial structure with a positive cash balance.

The analysis of the project leads to a credit rating of C and a 4,85% annual interest rate.

Strong points:

• Good historical performance based on diversified client base.
• Good repayment ability with a forecasted FCCR of 1,56.
• Excellent position.

Points of vigilence:

• Competitive market

*The multiple of FCCR at 1,56 means that the company has a safety margin of 56% 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 (Scores & Decisions, Corporate Banking File). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.