Troc de l’Ile #2

Presentation of the company

Created in 1982, Troc de l’Ile is active in the retail of second-hand goods sector, such as decorative objects or furnishings. The company, managed by Pascal Lebert has 4 employees and is based in Rochefort du Gard.

The Troc de l’Ile network comprises 85 shops, mostly under franchise contracts. The network is mainly present in France and Belgium, but also in Spain and Germany.

The company’s main activity is the deposit/ sale of second-hand goods, as well as the cash purchase.

The company works with a diversified base of private customers.

Project Description

The company requests 271,000€ to ensure continuity following the impact of the COVID-19 crisis on its activity.

This company is experiencing a decrease in income as a result of COVID-19’s economic impact. To ensure it’s continuity, the company needs liquidity. The credit can be used, for example, to invest in new business channels or to keep paying fixed costs until business activities pick up again.

The French government supports this company with a State Guarantee. 90% of the principle is secured. If the company cannot repay the loan, the state will partially repay lenders on behalf of the company. Thereby, the government makes it safer for lenders to lend.

This state guaranteed loan is initially a 12 month differed loan with payment of 2% interests and capital at the end of the loan. After 12 months the borrower can (partially) repay the loan. If (part of) the loan is not repaid, the borrower will repay the loan over a period from 1 to 5 years. A new interest rate of 4.46% will then be applied.

As a reminder, the October lending community supported Troc de L’ile in 2018 with 415 000 € to finance the redesign of the website and the strengthening of the sales force, as well as the renovation of 4 shops.

The amount offered on the platform is limited to 132.780€, which is in line with the regulatory limits.