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Unfortunately, you cannot lend to this project.
Why? Why? This project* does not fall within the regulatory framework of Lendix IFP, defined by the ordinance of 30 May 2014 (ordinance on participatory financing). It is therefore not offered to individual lenders as part of participatory financing.
According to the Ordinance of 30 May 2014, a project consists of a purchase or a set of purchases of goods or services contributing to the completion of a predefined transaction in terms of purpose, amount and timetable
Created in 1993, Cotelac is active in the clothing design and retail sector. The company, managed by Pierre Pernod, has 293 employees and is based in Ambérieu-en-Bugey. The group is composed of an holding (PPO) and a main company (Cotelac). There are also some subsidiaries for foreign shops.
The company’s main activity is: the creation, manufacture and sale of ready-to-wear products.
The company works with retails customers and professional distributors.
"The company wishes to borrow 2 101 000€ over 48 months, including 342 000€ to finance recruitment, process improvement, and internet sales developpement and 1 759 000€ to finance a partial refinancing of debt. This second financing does not fall within the regulatory framework of Lendix IFP, defined by the ordinance of 30 May 2014 (ordinance on participatory financing). It is therefore not offered to individual lenders as part of participatory financing.
The borrower is the main operating company representing 87% of the group’s turnover and 78% of the profitability. The financial analysis was carried-out on the consolidated financial statements, which reflects the group’s performance.
With a turnover of 38 508 800 € in 2017 and an experienced team, the company has a good track record combined with a two-digits operating margin.
Increase of profitability is related to good control of fixed cost base. Forecast based on 2017.
The borrower has a good repayment capacity with a forecast FCCR (Fixed Charge Cover Ratio *) at 1,01 and an excellent financial structure, with a forecast net debt / ebitda ratio of 1,5 and a net debt / shareholder equity of 35%.
The analysis of the project leads to a credit rating of B and a 5,60% annual interest rate.
*The multiple of FCCR at 1,01 means that the company has a safety margin of 1% 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.
Point of caution: