presented by October Netherlands
lent to this project, means…
paid back in total
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Warning Lending money to SMEs presents a risk of capital loss and requires your savings to be immobilised.
Created in 19-12-2006, Ridaa B.V is active in the production of cast iron bearings for industrial and shipping sector. The company, managed by Richard van Unen and El Yafrah , has 5 employees and is based in Middelburg.
The company’s main activities are:
The company works with large players in the industrial and shipping industry
The two businesspartners have a long history in the business. They worked at a large manufacturer of shipping components when they met. After some years they decided to start a business based on the demand they recognised in the market.
Ridaa B.V is able to realize a customer request from engineering to a full fledged end product inhouse, which makes them flexible and able to reach a high level of quality.
The company requests a loan of 52.000 € over 60 months to finance the purchase of a new machine in order to increase efficiency. This project will be realised this quarter.
The amount offered on the platform is limited to 25480€, which is in line with the regulatory limits.
With a turnover of 658 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.
The forecast is based on the performance in 2018, which shows an increase in revenue.
The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,71 and a strong financial structure, with a forecast net debt / ebitda ratio of 0,57 and a net debt / shareholder equity of 82%.
The analysis of the project leads to a credit rating of B and a 6,45% annual interest rate.
*The multiple of FCCR at 1,71 means that the company has a safety margin of 71% 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.
Points of caution: