SAS JAS

Presentation of the company

Created in 2011, SAS JAS is a Lounge bar / restaurant better known under the name Prince Palace. The company, managed by Ghareh Gozloo James, has 20 employees and is based in Paris .

The establishment is open 7/7, from 10am to 2am and proposes various events with the participation of musicians.

With a privileged location, in a shopping mall on the Champs Elysées , the Prince Palace has a capacity of 20 seats on the ground floor and 100 on the first floor. The average ticket is between 50 and 80 € with a clientele consisting mainly of tourists from the Middle East.

The manager worked for several years in the organization of events and in various establishments before creating the Prince Palace.

Project Description

As part of its development, the company carried out renovation work for the launch of the restoration.

The company wishes to borrow 83 000 € over 36 months to refinance these renovation costs. This project will be realised next month.

The amount offered on the platform is limited to 40 670€, 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 the management of Lendix, subscribers to the Lendix Fund.

Analyst’s Opinion

With a turnover of 1 222 484 € 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 historical performance

The borrower has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,2 and a strong financial structure, with a forecast net debt / ebitda ratio of 1,4 and a net debt / shareholder equity of 195%.

The analysis of the project leads to a credit rating of C and a 6,95% annual interest rate.

Strong points:

• Good historical performance based on diversified client base.
• Good repayment ability with a forecasted FCCR of 1,2.
• Good location with an essentially tourist clientele

Points of caution:

• High competitive market

*The multiple of FCCR at 1,2 means that the company has a safety margin of 20% 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.