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Mennecy Aulnay

presented by October France

€778,000

5.5%

60 months

B+

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location

Location

Paris, France

activity

Activity

Restaurants and catering services

Warning :

Unfortunately, you cannot lend to this project.

Why? This project* does not fall within the regulatory framework of October 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

Created in 2019, SAS Mennecy Aulnay is active in the hotel sector. The company, managed by David Dassin, has 12 employees and is based in Aulnay.

Mr. David Dassin, managing director, has overall 15 years of professional experience in the sector.

The company’s main activity is the exploitation of two Premiere Classe hotels in Mennecy and Aulnay.

Project Description

The company requests 778 000 € with 2 months of deferred repayment to finance refinance shareholder loan used to acquire the ongoing business and walls of two hotels. These hotels will be tranformed into Premiere Classe hotels. This project will be realised this quarter.

As a reminder, the October lending community supported other companies from the manager in 2018 and 2019 with 156k€, 416k€ and 104k€ to refinance shareholder loan and works on hotels.

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.

This project is a medium-term loan with a capital amortisation deferment and as such presents a different method of capital repayment than standard projects. The first 2 months, the lenders will only receive interest; the following 58 months, the lenders will receive interest and principal amortization. This principal repayment profile matches the borrower’s financing needs while allowing lenders to earn a higher amount of interest.