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Projet confidentiel.

Edge.

Presentation of the company

Created in 2014, EDGE S. R. L. is active in the insurance brokerage sector. The company, managed by Manfredo Sciarretta, has 8 employees and is based in Milano.

Mr. Manfredo Sciarretta, managing director, has overall 20 years of professional experience in the insurance sector. Previously, he was managing director at Marsh company.

The company’s main activity is the insurance brokerage.

The company works with more than 100 customers who are companies with turnover above 30 mln €.

Project Description

Mr. Fontana wants to sell his activity valued 726 000 €, valuation based on standard of the market. Edge wish to borrow 100. 000 € for 48 months to finance the acquisition of 70% the company. This project will be realised next month.

Total price of the acquisition is 508 000 € and the payment will be 30% at the closing, 20% after 12 months, 20% after 24 months and the remaining 30% within September 2022. The first tranche of 152 000 € will be financed by the October loan joint with a shareholder contribution of 60 000 €. The other tranches will be paid with cash flow generated by the Company.

This project is not covered by the Italian state guarantee.

The amount offered on the platform is limited to 49 000 €, which is in line with the regulatory limits.

Brands Holding B.V..

Presentation of the company

Brands Holding B.V. is the holding company set up in March 2019 to acquire the Baar Advies group, active in the Financial and Insurance advise sector. The Baar group, managed by Patrick Brands, has 15 employees and is based in Bussum.

The company’s main activity is:

– Financial-, mortage- and Insurance-advice for private individuals and SME’s

The company’s customer base exceeds 3000 and revenues come from periodical insurance fees and advisory fees. Half of the turnover comes from recurring insurance and financial advise fees based on a subsription model. 

Project description

Mr. Baar wants to sell his Financial Avisory firm, valuation based on standard of the market. The valuation was carried out by two independend companies on the basis of a certified valuation of the mortgage and insurance portfolios, a due diligence study and a valuation analysis of the company as a whole. Mr. Brands via a dedicated company wish to borrow 1.330.000 € over 60 months to finance the acquisition of the underlying business companies. This project will be realised next month.

The amount offered on the platform is limited to €651.700.

KPI #2.

Presentation of the company

Created in 2009, KPI is active in the wealth management and social protection consulting sector. The company, managed by Patrick Brionne, has 3 employees and is based in Bayonne. The company operates mainly in France but also in Switzerland and Luxembourg.

Mr. Patrick Brionne, managing director, has more than 20 years of professional experience in the sector. Previously, he worked in Axa group and created KPI company.

The company’s main activity is the management and the consulting in various savings (provident, retirement, child protection) and investment solutions (capitalisation, tax exemption).

The company works with private clients : most of them business leaders and professionals and several banking and insurance as partners.

Project description

The company requests 43 000 € to finance the recruitment of a sales person. This project will be realised in the next few months.

As a reminder, the October lending community supported KPI in 2016 with 172 000 € to finance the buy out of Avenir Conseil Plus.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

The amount offered on the platform is limited to 21070€, which is in line with the regulatory limits.

CNH Industrial Capital Solutions.

Presentation of the company

CNH Industrial N.V. (NYSE:. CNHI /MI:. CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector:. Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; IVECO for commercial vehicles; IVECO Bus and Heuliez Bus for buses and coaches; IVECO Astra for quarry and construction vehicles; Magirus for firefighting vehicles; IVECO Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions.

CNH Industrial was founded in 2013, following the merger of Fiat Industrial and CNH Global, and is a global leader in the capital goods sector. Today, CNH Industrial employs over 64,000 people and has 66 manufacturing plants and 54 research and development centres and is present in over 180 national markets. CNH Industrial is listed on the New York Stock Exchange and on Borsa Italiana: a constituent of the FTSE MIB index. Moody’s Investors Service assigned a ‘Baa3’ senior unsecured rating to CNH Industrial N. V. , with a stable outlook; Fitch Ratings (“Fitch”) has improved the Outlook of CNH Industrial N. V. to Positive from Stable. Fitch has also affirmed CNH Industrial N. V. ’s and CNH Industrial Capital LLC’s Long-Term Issuer Default Ratings at ‘BBB- .

CNH Industrial Capital is a global Financial Services player in the Agricultural, Construction Equipment and Commercial & Specialty Vehicles segments.

CNH Industrial Capital operates around the Globe with more than $26 billion in Managed Assets (including unconsolidated joint ventures).

CNH Industrial Capital supports the CNH Industrial brands’ customers and dealers with a dedicated suite of financial solutions through various wholly owned subsidiaries, joint ventures and vendor programs around the world.

Project Description

The group wishes to borrow € 100 000 over 24 months as part of the Grow Together initiative (which already involved AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JCDecaux, SUEZ, Unibail-Rodamco-Westfield e Webhelp).

Thanks to the Grow Together initiative, some major European groups will show the way towards funding diversification for SMEs by borrowing on our lending platform.

In October 2014, a new regulation opening a breach in the banking monopoly allowed SMEs to borrow directly from individuals and institutions alongside the traditional banking system. Small and medium-sized companies now have a choice.

CNH Industrial will enable its SME partner network to borrow up to € 1 000 000 in total, without any upfront fee.

This project, which is part of the Grow Together initiative, is only available to individual investors on the platform. Unlike all the other projects presented on the platform, institutional investors and October’s management cannot lend on the projects of this campaign.

Analyst’s Opinion

The borrower is Italian Financial company of the Group. The financial analysis was carried out on the consolidated financial statements, which reflects the group’s performance.

With a turnover of 29 736 000 000 € in 2018 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The increase in sales and profitability was driven by improved market condition especially for agricultural machinery business unit. The forecast is based on the performance of 2018.

The borrower has a solid repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,86 and a strong financial structure, with a forecast net debt / ebitda ratio of 1,82 and a net debt / shareholder equity of 86%.

Financial debt take into account market value of receivables.

The analysis of the project leads to a credit rating of A+ and a 2,5% annual interest rate.

*The multiple of FCCR at 1,86 means that the company has a safety margin of 86% 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.

Strong Points:

Points of caution:

Projefi #2.

Presentation of the company

Created in 2003, Projefi is active in the credit brokerage sector. The company, managed by Michel Pons-Palomba, has 34 employees and is based in Cannes. Projefi is the new name of EIG Finances, following the merge in 2017 with Up Finances, specialized in the same actitvity.

Mr. Michel Pons-Palomba, managing director, has overall 16 years of professional experience in the sector. Previously, he created the Projefi company.

The company’s main activity is: the distribution of loans (loan repurchase, mortgage loans for seniors, lombard loans, real estate loans, etc.) in metropolitan France and the French overseas departments, through the EIG Finance Réunion company.

The company works with banks in France and abroad such as Crédit Agricole, My Money Bank.

The managers own others companies in the same sector : EIG Assurance specialized in insurance brokerage and Patrimonium specialized in repurchase agreements and whose activity is complementary to Projefi.

Project Description

The company requests a loan of 120 000 € over 48 months to finance the digitizing of the customer credit process. This project will be realised this quarter.

As a reminder, the October lending community supported EIG Finances in september 2016 with 120 000 € to finance the open of two agencies in Paris and Bordeaux.

The amount offered on the platform is limited to 58 800€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 3 619 000 € in 2018 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The increase of the revenue in 2017 is linked to the merge with Up Finances company. The forecast is based on the expected performance of 2019.

The borrower has a correct repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,13 and an excellent financial structure, with a forecast net debt / ebitda ratio of 0,6 and a net debt / shareholder equity of 65%.

The analysis of the project leads to a credit rating of B and a 5,65% annual interest rate.

*The multiple of FCCR at 1,13 means that the company has a safety margin of 13% 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.

Strong points:

Point of caution:

G Capital.

Presentation of the company

G CAPITAL is the holding company set up in 2018, by Charles Gatey, to acquire Stratégie Patrimoine, and active in the wealth management consulting sector. Stratégie Patrimoine, managed Eric Coatanroch, has 2 employees and is based in Vannes. Stratégie Patrimoine is an independant firm created in 1989.

The company’s main activity is: the wealth management advising of private clients.

 It receives recurring fees and commissions when products are marketed, and on the basis of the outstanding amounts held by clients.

The company works with financial partners (insurance companies, investment funds, real estate, retirement) for a total outstanding amount of 61 million euros spread over 360 individual clients.

Eric Coatanroch retires and sells his shares. His associate and portofolio manager, Mr. Bellec, sells his shares too, but stays as employee. The company organisation stays unchanged.

Charles Gatey wants to acquire the company. In 2007, he has created its independant firm G & R Patrimoine and now manages 6 employees. G&R Patrimoine has the same activity as Stratégie Patrimoine, for a total outstanding of 60 million euros spread over 400 clients. There will not have capitalistic link in bewteen Stratégie Patrimoine and G&R Patrimoine.

Project Description

The two associates Mr. Coatanroch and Mr.Bellec want to sell his wealth management consulting valued 1 550 000 €, valuation based on standard of the market. Mr. Gatey via a dedicated company wish to borrow 727 000 € over 84 months to finance the acquisition of the company, the balance will be financed by debt and personnal contribution. This project will be realised in the next few months.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

Like all projects presented to individual lenders on October, it is co-financed by institutional lenders, experienced lenders and October management, subscribers to the October fund.

The amount offered on the platform is limited to 356 230€, which is in line with the regulatory limits.

Analyst’s Opinion

The borrower is a holding company dedicated for the acquisition whose revenues are derived from services invoiced to its subsidiaries. The financial analysis was carried out on the financials of the target company.

With a turnover of 497 000 € in 2018 and an experienced team, the company has a good track record combined with a two-digits operating margin.

The variation of the revenue and the profitability are linked to the end of an exceptionnal contract. The forecast is based on the performance expected of 2019.

The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,20 and a strong financial structure, with a forecast net debt / ebitda ratio of 2,6 and a net debt / shareholder equity of 128% including the additional debt and the personnal contribution.

The analysis of the project leads to a credit rating of C and a 9,9% annual interest rate.

*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 (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.

Strong points:

Point of caution:

Edenred.

Presentation of the company

Edenred is the world leader in transactional solutions for businesses, employees and merchants, with a business volume of more than €26 billion in 2017, 78% of which in digital format. Whether by mobile, on online platforms, by card or via a paper voucher, its solutions provide additional purchasing power to employees, optimize corporate expenses and bring additional business volume to the Group’s merchant partners.

Edenred’s offer is divided into three business lines:

The Group thus connects a single network of 44 million employees, 770,000 companies or local authorities and 1.5 million merchants.

Listed on the Paris Stock Exchange as part of the CAC Next 20 index, Edenred is present in 45 countries with nearly 8,000 employees.

Follow Edenred on Twitter:

www.twitter.com/Edenred 

Project Description

The group wishes to borrow €100,000 over 24 months as part of the Brighter Futures operation.

Thanks to the Brighter Futures operation, 11 major groups will lead the way in diversifying sources of financing for SMEs by borrowing on a lending platform.

Large groups are used to borrowing outside the banking system and diversifying their sources of funding. They have simple and easy access to credit.

In October 2014, a new regulation opening a breach in the banking monopoly allowed SMEs to borrow directly from individuals and institutions, in addition to their banks. Small and medium-sized companies can now do as big as large ones.

AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JC Decaux, SUEZ, Unibail-Rodamco-Westfield and Webhelp are joining the transaction and showing their VSE/SME ecosystem that they can now finance themselves differently, thanks to lending platforms.

These 11 major sponsors, each borrowing €100,000 from October, give their VSE/SME partners the right to borrow up to €1,000,000 each, without any administrative costs.

This project, which is part of the Brighter Futures operation, is only available to individual investors on the platform. Unlike all the other projects presented on the platform, institutional investors and October’s management cannot lend on the projects of this campaign. 

Analyst’s Opinion

The borrower is a holding company whose revenues are derived from services invoiced to its subsidiaries. The financial analysis was carried out on consolidated financial statements, which reflect the Group’s performance.

With a turnover of €1,339,000,000,000 and an EBIT of €437,000,000 in 2017, around an experienced team, the group has a good track record combined with a double-digit operating margin.

Over the last 3 years, the increase in revenue has been driven by organic growth and a targeted acquisition policy (notably the major acquisitions of Embratec and UTA), in line with its Fast Forward strategy, and the margin has remained stable.

The group has negative equity on the history presented below. This particularity results from the recognition at their historical value of the assets contributed or sold by Accor as part of the transaction to separate the activities in 2010. Equity in the proforma is positive following the incorporation into equity of bond debt with a maturity after the October loan.

The forecasts are based on 2017 performance.

The group has an excellent repayment capacity with a Fixed Charge Cover Ratio (FCCR) of 2.23 and an excellent financial structure with a low net debt of €713,000,000 in 2017.

The analysis of the project leads to a credit rating of A+ and an annual interest rate of 2.5%.

*The multiple of FCCR at 2.23 means that the company has a margin of safety of 123% in relation to its ability to repay its credit maturities.

The expert opinion is given for information purposes on the basis of the information provided by the project leader 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:

Points of caution:

Arkéa.

Presentation of the company

Arkéa is composed of the federations of Crédit Mutuel de Bretagne, Sud-Ouest and Massif Central, as well as some thirty specialised subsidiaries (Fortuneo, Monext, Arkéa Banque Entreprises et Institutionnels, Arkéa Investment Services, Suravenir…).

With more than 10,000 employees, 3,500 directors, 4.4 million members and customers in “bankinsurance” and more than 132 billion euros in total assets, Arkéa ranks among the top banking institutions headquartered in the region.

A pioneer and innovator, Arkéa has a known and recognized technological culture, particularly in online banking and insurance services. On the strength of this expertise, the group has forged very strong links with the players in the digital ecosystem with whom it is developing various forms of cooperation, whether technological, commercial or capital-intensive. In a rapidly changing environment, in an ultra-connected world that is shaking up all established models, these partnerships with start-ups and fintechs enable it to remain at the forefront of technology, consumer habits and cultivate its agility.

Arkéa pursues an original development strategy, with the ambition of establishing itself as the financial services hub model that best meets the aspirations and lifestyles of today and tomorrow.

Ronan Le Moal has been Chief Executive Officer since 2008.

Project Description

As part of the Grow Together initiative, Arkéa wishes to borrow €100,000 over 24 months.

October, in partnership with 11 major groups (AccorHotels, The Adecco Group, Allianz France, Arkéa, Edenred, ENGIE, Iliad, JC Decaux, SUEZ, Unibail-Rodamco-Westfield and Webhelp), is launching the Grow Together communication campaign to highlight a recent source of financing for SMEs: the lending platform.

Unlike SMEs, large groups have diversified sources of financing and are used to borrowing outside the banking system. They have simple and easy access to credit.

Since October 2014, the end of the banking monopoly has also enabled SMEs to borrow directly from individuals and institutions, in addition to their banks. SMEs can now do like the "big ones".

Arkéa participates in the Grow Together operation with the objective of creating value for its VSE/SME ecosystem by providing it with:

This project, which is part of the Grow Together operation, is only available to individual investors on the platform. Unlike all the other projects presented on the platform, institutional investors and October’s management cannot lend on the projects of this campaign. 

Analyst’s Opinion

The borrower’s financial analysis was carried out on the basis of the consolidated financial statements (closed at 31/12/2017), which reflect the Group’s performance.

With net banking income of €2.1 billion in 2017 and an experienced team, the group has a good track record combined with excellent profitability. The increase in business and profitability is linked to Arkéa’s diversification strategy, the continued growth of its customer portfolio and the reduction in the cost of risk.

During the first half of 2018, growth continued with 110 billion euros in outstanding savings, 53 billion euros in outstanding loans and still an excellent level of profitability.

In addition, the Group has a solid financial structure: Arkéa is subject to prudential rules relating to credit institutions, insurance companies and financial conglomerates (Basel III). The group complies with regulations and had the highest solvency ratio in the French banking market at the end of 2017.

The analysis of the project leads to a credit rating of A+ and an annual interest rate of 2.5%.

The expert opinion is given for information purposes on the basis of the information provided by the project leader 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:

Points of caution:

Prosenor Correduría de Seguros.

Presentation of the company

Created in 2007, Prosenor Correduria de Seguros S.L. is active in the Insurance brokerage sector. The company, managed by Antonio José Roldan Rodriguez, has 10 employees and is based in Madrid.

The company’s main activities are:

The company works with a wide customer base of companies (80%) and individuals (20%).

Project Description

The company requests a loan of 80 000 € over 36 months to finance the reorganization of its workforce. This project will be realised next month.

This project is a Flexible Bridge Loan, an amortizable loan with a standard commitment for the first 9 months and the possibility of early repayment at no cost for the remainder of the loan term, even in the event of refinancing by other financial institutions.

The amount offered on the platform is limited to 39 200€, which is in line with the regulatory limits.

Analyst’s Opinion

With a turnover of 577 076 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.

In 2015 the company experienced several one-off expenses due to an internal reorganization. In 2017, decrease of turnover is related to a switch of client portfolio. In 2018, turnover is in line with historical level. The forecast is based on the performance in 2017.

The borrower has an excellent repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1.36 and a good financial structure with a positive cash balance.

The analysis of the project leads to a credit rating of B and a 5.5% annual interest rate.

Strong points:

Points of caution:

*The multiple of FCCR at 1.36 means that the company has a safety margin of 36% 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 (Informa, Asnef). This opinion is only an element of reflection in the decision making of a lender to participate in the financing of a project.

Padribel.

Présentation de l’entreprise

Créée en 2013, RM du Ponteix est la société d’exploitation du restaurant de l’enseigne “Meuh" à Boulazac (24). L’entreprise, dirigée par Mathieu Boudot et Jérôme Le Néa, emploie 14 personnes. 

Situé dans la zone commerciale du Ponteix à proximité d’une salle de concert, le restaurant bénéficie d’une forte visibilité et observe une fréquentation croissante depuis sa création. Référencé n°2 des restaurants à Boulazac sur Tripadvisor, le restaurant est ouvert 7j/7 midi et soir avec une capacité d’accueil de 130 places.

L’établissement a développé un concept « fast grill » spécialisé dans l’entrecôte de qualité, avec prise de commande au comptoir et service traditionnel à l’assiette.

Présentation du projet

Mathieu Boudot et Jérôme Le Nea souhaitent céder 95% des parts sociales de la SARL RM du Ponteix valorisée 520 000 €. Le repreneur, Patrick Belko, dispose de plus de 25 années d’expérience dans le domaine de la restauration sur des postes de directeur.

Patrick Belko a suivi une formation au sein d’un des principaux groupes de cafétéria (Marest) et a participé à la création d’une société de restauration inter-entreprises. Il a ensuite rejoint un des acteurs principaux de la grande distribution, Leclerc, pour la création d’un pôle restauration au sein d’une galerie commerciale.

Le repreneur, via la société dédiée holding Padribel, souhaite emprunter 382 000 € sur 84 mois pour financer le rachat de 95% des parts sociales de la RM du Ponteix. Le solde est financé par apport personnel.

Comme tous les projets présentés aux prêteurs particuliers sur Lendix, celui-ci fait l’objet d’un cofinancement avec les investisseurs institutionnels, les investisseurs avertis, et le management de Lendix, souscripteurs du Fonds Lendix.

Vijylance.

Présentation de l’entreprise

Créée en 2004, Attendance est une société spécialisée dans la sécurité des entreprises et des personnes. L’entreprise emploie 6 personnes et est basée à Avon (77). L’entreprise commercialise ses produits sous le nom commercial de Vigicom.

L’entreprise a pour activités :

La société travaille avec une centaine d’entreprises et des institutions de la fonction publique (préfectures, mairies, …) pour des équipements de type portiques de sécurité et détecteurs de métaux.

Attendance est adhérente au Syndicat National des Acteurs du Marché de la Prévention et de la Protection (SYNAMAP) et apporte sa contribution à la diminution du nombre des accidents du travail.

La société a obtenu de nombreuses récompenses telles que le prix Stars et Métiers de la Bred et le prix Innovation Preventica ; « un dispositif portatif d’alerte de malaise à distance » a été breveté par l’équipe R&D.

Présentation du projet

Le dirigeant s’est rapproché de deux de ses salariés pour vendre sa société, valorisée 2 190 000 €. Jérôme Teuffot et Yohann Laudier, respectivement chef de projet informatique et ingénieur commercial depuis une dizaine d’années dans la société, ont répondu favorablement à cette opportunité.

Les repreneurs, via la holding Vijylance, souhaitent emprunter 922 140 € sur 84 mois avec un différé d’amortissement de 4 mois* pour financer cette acquisition. Le solde est financé par un apport des repreneurs, un crédit du vendeur dont la maturité est postérieure au prêt Lendix ainsi qu’une remontée de la trésorerie.

*Ce projet est un crédit de type moyen terme avec un différé d’amortissement en capital proposé sur la plateforme Lendix et présente à ce titre un mode de remboursement du capital différent des projets standards. Les 4 premiers mois, les prêteurs recevront des intérêts et les 80 mois suivants, les prêteurs recevront les intérêts et l’amortissement du capital.

Ce profil de remboursement du capital correspond aux besoins de financement de l’emprunteur tout en permettant aux prêteurs d’obtenir un montant d’intérêts supérieur.

Comme tous les projets présentés aux prêteurs particuliers sur Lendix, celui-ci fait l’objet d’un cofinancement avec les investisseurs institutionnels, les investisseurs avertis, et le management de Lendix, souscripteurs du Fonds Lendix. 

*Le multiple de FCCR à 2,05 signifie que la société a une marge de sécurité de 105% par rapport à sa capacité à rembourser ses échéances de crédit.

L’avis d’expert est donné à titre indicatif sur la base des éléments fournis par le porteur du projet et des informations provenant de nos bases de données (Scores & Décisions, Fichier Bancaire des Entreprises). Cet avis ne constitue qu’un élément de réflexion dans la prise de décision d’un prêteur pour participer au financement d’un projet.