Expansion financing for leading video game distributorBack to all Lending opportunities
SummaryThe Company is engaged in wholesale and retail trade of video games, video game consoles, and gaming equipment since its establishment in 2015. The Company’s main business operations are in Latvia, however, it has clients in Estonia and Lithuania as well. The Company has been actively operating in the wholesale of gaming products and also selling products directly to consumers through their internet shop. The Company has exclusive rights to distribute “Konami”, “Kalypso” and “550 games” products in the Baltics. In 2017 the company opened its first retail shop. At the moment, the Company has 2 specialized video gaming retail stores in Riga located in “Domina Shopping” and “Akropole”. The company has scheduled 3rd retail store opening in July in the shopping mall “Spice Home” and is now looking for additional working capital of EUR 52,000 for a period of 24 months. Investors are offered 14,04% annual (1,17% monthly) interest rate with a standard monthly amortization schedule. The loan is secured by a commercial pledge of assets, personal guarantees from both beneficial owners and related retail company’s guarantee.
There is a number of factors that make lending to the Company an attractive opportunity and the main highlights are the following:
- The Company has shown a track record of profitability;
- Financing is secured with a pledge on all assets with the total value of EUR 235,230, 2 personal guarantees of both beneficial owners and related company’s guarantee;
- Managers have 11 years of experience working in the wholesale of computer and electronics components;
- The Company has no financial liabilities at the moment and Capitalia loan would be the only financial obligation;
- The Company has established reliable partnerships with several retailers of video games in Latvia.