Nina

Presentation of the company

Created in 2006, Nina is active in the Health sector. The company, managed by Deprez Philippe, has 10 employees and is based in Cagnes sur Mer.

The company’s main activity is: physical therapy.

The company works with residents from several public health establishments (hospitals, retirment homes). It also has a regular office for individuals.

The company often deals with the other entity of the manager, Anita based in Cagnes sur Mer that has the same activity. 

Project Description

The company wishes to borrow 63 000 € over 36 months to finance the acquisition of medical equipment. This project will be realised next month.

As a reminder, the Lendix lending community supported Anita, the other company of the manager in 2017 with 104 000€ over 60 months to finance the acquisition of a patient clientele.

The amount offered on the platform is limited to 30 870€, which is in line with the regulatory limits.

Like all projects presented to individual lenders on Lendix, it is co-financed with institutional investors, sophisticated investors, and Lendix management, subscribers to the Lendix Fund.

Analyst’s Opinion

With a turnover of 1 109 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The decrease in profitability in 2017 is linked to the increase of the workforce. 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 1,16 and a strong financial structure, with a forecast net debt / ebitda ratio of 0,8 and a net debt / shareholder equity of 87%.

The analysis of the project leads to a credit rating of B and a 5,6% annual interest rate.

*The multiple of FCCR at 1,16 means that the company has a safety margin of 16% 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.

Strong points:

• Good historical performance based on diversified client base.
• Good repayment ability with a forecasted FCCR of 1,16.
• Experienced management team and good track record.

Point of caution:

• Little dependency to public health establishments