The Company was established in 2021 and is one of the largest specialized bicycle wholesalers in Latvia, and it delivers bicycles to well-known retailers. The Company also operates two physical stores in Riga and an internet shop. In addition to the bicycles, the Company also sells spare parts, accessories, and electro scooters. Although the Company was founded in 2021, the business has been operating for more than 10 years and was split from another entity to divide business operations.

The largest customers of the Company have already placed seasonal orders for more than EUR 300k. Customers usually pay with deferred payments, which are expected to be received during the remaining half of the year 2024. Meanwhile, the Company needs to cover delivery costs, salaries, and other expenses to continue seamless operations.

There are a number of factors that make lending to the Company an attractive opportunity and the main highlights are as follows:

• Both shareholders will provide personal guarantees for the loan.
• The Company has seasonal orders from the market-leading and well-known retailers.
• The business has been operating for more than 10 years.
• The Company’s business is well-diversified servicing both retail and business customers.
• The Company had a strong equity-to-assets ratio in 2023 at 63%.