Alain Brosset was among the first to borrow from October via Agicap thrrough this integrated partnership. Alain runs EUROPE RESINE, a company specialized in the production of synthethic resin-based coatings. In 2022, he borrowed €200,000 in order to finance his new development in Africa, beginning with setting-up in Morocco.
Discover his borrower story:
Resin everywhere !
Alain started his career as a Technical Sales Engineer, then became a Technical and Marketing Manager at a leading resin manufacturing group. Few years ago, he founded Europe RESINE which he currently managed.
EUROPE RESINE was established in 2008 and now counts about ten people at its headquarters. Business has evolved over time:
“We’ve gone from a sales agency company selling construction sites and synthetic resin products to a company specialized in the application of synthetic resin coatings. The application of resin can answer many different purposes: the needs of companies in the tertiary sector, in the industrial sector, in the health sector, in special works, in the design sector or, more rarely, the needs of private individuals. Resin covers floors, walls, roofs and even swimming pools. In other words, it is everywhere!”
Africa, a market for the future
Since their creation, EUROPE RESINE has been working on a self-financing approach. Already well established in France, they take up the challenge of expanding internationally in 2022: going to Africa! Alain undertakes two concrete projects. A project of development of the market:
“To establish ourselves in the market, we had to invest in setting up a company locally, perform demonstrations, and regularly travel to Africa. And this all has a cost”.
Alain also plans to create a new production line in the Sahara. In Africa, there are no resin sites, while the demand is very present. The establishment in the Moroccan Sahara will give Alain the opportunity to open a bridge between the Moroccan market and sub-Saharan Africa.
To finance its global expansion, he first approached the banks. But they were rather reluctant:
“I had already taken out a State Guaranteed Loan, and it was part of the overall debt calculated by the banks. This prevented me from applying to my bank. I was rejected by my banker, but I needed the funds very quickly.”
Agicap x October
“I’ve been using Agicap for a year and a half to manage my cash flow. “After discovering Agicap on Facebook, he was instantly impressed by the concept. I noticed a financing tab in their interface with the October financing proposals for Agicap clients. Right on time!”.
Just when Alain needed to finance his international expansion, he immediately came across the announcement of the October x Agicap partnership. It took only one click on the financing tab to start his application.
1+1 = 3
Agicap is a cash management system that Alain uses on a daily basis, especially for project simulations. This partnership with October enabled us to integrate the financing part into the Agicap client’s environment. After a simulation on Agicap, his financing needs were then calculated, and he had directly access to a solution to finance it. The loop is closed!
“I have already recommended the October solution to a few of my colleagues in the Building Federation, because every year they finance billions of euros worth of projects.”