Société Marcel Fleiss

Presentation of the company

Created in 1981, Société Marcel Fleiss is active in the art gallery sector. The company, managed by Marcel Fleiss, has 8 employees and is based in Paris (France).

The company’s main activity is:

• sell of painting and pictures
• intermediary between sellers and buyers.

The company works with retail clients and professional galleries.

Project Description

The company wishes to borrow 104 000 € over 24 months to finance refurbishment of a new storage room. This project will be realised this quarter.

The amount offered on the platform is limited to 50 960€, which is in compliance with 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 4 210 000 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

After an exceptionnal year in 2016, turnover returned to historical levels. The decrease of rentability in 2017 is linked to investments and increase of commercial process.

The borrower has an excellent repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 4,34 and an excellent financial structure, with a forecast net debt / ebitda ratio of 0,1 and a net debt / shareholder equity of 1%.

The analysis of the project leads to a credit rating of A and a 3,4% annual interest rate.

Strong points:

• Good historical performance based on diversified client base.
• Excellent repayment ability with a forecasted FCCR of 4,34.
• Longstanding track record

Points of vigilence:

• Competitive market

*The multiple of FCCR at 4,34 means that the company has a safety margin of 334% 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.