À propos
Loan of 555,000€ over 36 months to SARL Héliberté Locations (Le Mans), aircraft asset holding company of Héliberté group. Funds used to settle residual leasing (~110k€) of a Squirrel BA helicopter and to acquire engine modules (M03/M01) to return a second aircraft to service. Monthly repayment ensured by exploitation flows from the two BA helicopters concerned.
Plateforme · 14.0/25
A1 · Statut réglementaire
8.0/8✓ max
- agrément AMF licence from AMF obtained in November 2023, currently valid
- Maximum applicable score
A2 · Track Record
1.0/6faible
- Default 7.47% → tranche 7-15% → 1.5 pts
- Delay >90 days: N/C → 0 pt
- Actual return vs announced: N/C → 0 pt
- A2 = (1.5×0.5)+(0×0.3)+(0×0.2) = 0.75 ≈ 1
- Statistics partially published (loss rate 0.79% available), penalty -2 pts not triggered as partial data published
A3 · Rigueur de sélection
1.0/4faible
- No selection rate published nor detailed process identified
- Platform established since 2016, recognised in SME sector
- Minimum score for established platform without documented process
A4 · Santé financière
3.0/4bon
- Independent platform active since April 2016 (>8 years), agrément AMF licence obtained
- No distress signal identified
- AUM and solvency data unavailable but no platform incident reported
- 3 pts: independent, established, without negative signal
A5 · Protection investisseurs
1.0/3faible
- agrément AMF licence legally guarantees 4-day reflection period and continuity plan → 1 pt mandatory minimum
- Investor dashboard mentioned as updated
- Segregated accounts and secondary market not documented in available data
Projet · 44.0/75
(49.0 brut, red flags −5.0)
B1 · Instrument & Structure
8.0/10bon
B1.1: 5/5 - Direct loan fixed rate 10%, clear French law
B1.2: 2/3 - Direct borrowing SARL Héliberté Locations, without société dédiée (SPV), well documented
B1.3: 1/2 - No known senior debt explicitly subordinating the loan; rank not formally registered
B2 · Opérateur & Track record
10.0/15
B2.1: 4/4 - Named managers (Durieux, Betton), functions specified, detailed profiles
B2.2: 3/5 - Group created 1986, taken over 2010, ~11 helicopters, top 5 France; Locations entity <3 years old
B2.3: 2/3 - One operation repaid (170k€ April 2026) + one ongoing without incident
B2.4: 1/3 - SARL Locations gearing 2.6-4.3, negative equity 2023, tight balance sheet but overall group sound
B3 · Garanties & Sûretés
8.0/15
B3.1: 6/9 - Pledge of partnership interests registered + pledged DAT; personal guarantee under private deed (not notarised) of both managers + key person insurance
B3.2: 1/4 - SARL Locations: limited/negative equity, high gearing; guarantor Triskell group not financially evaluated
B3.3: 1/2 - No third-party bank named; loan <2M€, no RF2
B4 · Structure financière
11.0/15
B4.1: 4/5 - Group taux de couverture de la dette estimated: EBITDA 646k€ / debt service; debt/equity ratio=1x, acceptable
B4.2: 0/4 - Equity committed 0€ explicitly stated in the file
B4.3: 3/4 - 2 BA revenues = 525k€/year; group revenue +18%, operating cash flow 653k€ covers annual depreciation ~185k€ with margin
B4.4: 2/2 - SARL EBITDA ~24% revenue, net result positive, group operating cash flow 653k€ solid
B5 · Pré-commercialisation
6.0/10
- Active portfolio group: 11 helicopters, diversified contracts (public transport + aerial work 50/50), institutional clients (SAMU, ENEDIS)
- Documented revenue history 525k€/year on 2 BA
- Client portfolio data partial; sectoral concentration not specified
B6 · Permis & Maturité
5.0/5✓ max
- Activity established since 2010 (>2 years), valid licence for public passenger helicopter transport, Airbus approved maintenance workshop (Oxygene Aviation)
- All legal documents in order
B7 · Marché & Localisation
1.0/3faible
- French helicopter aerial work market rising (+23% requests for proposals 2023), diversified segments growing
- Secondary market; comparable local SME lending data limited
- Score adjusted thanks to live data: rising SME market, Eurozone NPL 3.2%, justifies 1/3 secondary market stable
⚠ Alertes détectées · −5 pts déduits
Aucune garantie réelle sur ce projet
−5 pts
Guarantee under private deed only - CONSISTENCY VERIFIED: B3.1=6 (partnership interests pledge + pledged DAT documented) → RF8 not triggered. No active red flag.
Points forts
Héliberté Group top 5 France, 35+ years in existence, revenue 6.5M€ rising 18%
Previous operation of 170k€ repaid in full in April 2026
Diversification of missions (public transport + aerial work) reduces sectoral dependence
Group operating cash flow 653k€ substantially covers annual debt service (~185k€/year)
Pledge of partnership interests + pledged DAT + key person insurance in place
Risques identifiés
Equity committed by the operator zero (0€) on this fundraising - total dependence on crowdfunding financing
SARL Héliberté Locations shows negative equity in 2023 and gearing 2.6-4.3
Personal guarantee of managers under private deed only, without notarial deed - limited enforceability
Return to service of a grounded helicopter: technical risks and timelines not contractualised
Seasonal activity and rigid cost structure (maintenance, high financial charges)
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