SARGSYAN GEGHAM TOU ALBERT (Champions Team Thessaloniki) — 14.9%/an · 13 mois

Plateforme · 9.0/25

A1 · Statut réglementaire 3.0/8faible

A2 · Track Record 3.0/6

Stated default rate 0.1% (<1% → 6 pts base)
Delay rate >90 days not published → N/C → 0 pts
Real yield vs announced yield not verifiable (no audited report 2024) → N/C → 0 pts
Gross score: (6×0.5 + 0×0.3 + 0×0.2) = 3.0
No -2 penalty as default rate partially published

A3 · Rigueur de sélection 1.0/4faible

Selection rate not published
Process not documented publicly
Two documented cases of fraud/false information to investors (Estlat, Vibroedil) calling into question the rigour of the process
Established platform recognised in its niche but proven deficient selection

A4 · Santé financière 1.0/4faible

No audited financial report 2024 published (March 2026, delay justified by migration)
Small reserve fund and not transparent
Target yields 20%+ without verifiable solvency reserves
720% growth but suspect business model
No active distress signal but insufficient transparency for 2+ pts

A5 · Protection investisseurs 1.0/3faible

Projet · 33.0/75 (36.0 brut, red flags −3)

B1 · Instrument & Structure 7.0/10

B1.1: 5/5 - Simple obligation at fixed rate, clear entitlement

B1.2: 1/3 - Direct loan to individual operator, Greek law applicable, less familiar

B1.3: 1/2 - No known senior debt, priority ranking in fact but not registered

B2 · Opérateur & Track record 6.0/15faible

B2.1: 2/4 - Manager appointed (Sargsyan Gegham), without verifiable public profile

B2.2: 1/5 - First transaction, prior experience in industrial distribution not formally documented

B2.3: 0/3 - No history on this platform

B2.4: 3/3 - Recent company, no identifiable procedure, no pre-existing debt

B3 · Garanties & Sûretés 5.0/15faible

B3.1: 4/9 - Personal guarantee (personal Audi A4 vehicle plus operational assets pledged), not notarised, without mortgage

B3.2: 1/4 - Guarantor is natural person, limited patrimony, weak equity as an individual enterprise

B3.3: 0/2 - No banking partner; loan entirely crowdfunded

B4 · Structure financière 6.0/15faible

B4.1: 2/5 - Estimated taux de couverture de la dette ~3.4x in 2026 (ICR documented); but projections based on 1 year history only

B4.2: 0/4 - No external equity contribution; 100% external financing

B4.3: 2/4 - ICR 3.4x provides margin but stress test not formalised; Loan-to-Value (ratio prêt/valeur actif) ~52% partially offsets

B4.4: 2/2 - Net margin 6.1% in 2026, ICR >3x

B5 · Pré-commercialisation 6.0/10

B6 · Permis & Maturité 5.0/5✓ max

Established activity (commercial, Greece), registered legal structure, licences in order
Second year in progress
No legal documents reported missing

B7 · Marché & Localisation 1.0/3faible

Greek industrial consumables market stable, GDP +2.1%
But secondary SME market (Greece, regional city)
Intense competition from established distributors
Limited local market data
Score adjusted thanks to live data: SME lending market in growth but NBFI vulnerabilities and consumer credit tightening noted

Points forts

✓Revenue of 862k EUR achieved in first year without external debt.

✓Six signed B2B framework contracts with identified clients active in 2026.

✓Projected ICR 3.4x in 2026 - comfortable debt service according to projections.

✓Diversified product portfolio across 5 categories with recurring margins.

✓No pre-existing debt, personal alignment of manager via initial self-financing.

Risques identifiés

!Individual enterprise less than 2 years old without verifiable multi-year financial history.

!Liquidation collateral coverage of only 52% of principal (337k on 650k).

!Concentration entirely on single manager - high key-person operational risk.

!Growth projections 73% and 42% based on LOI not yet formalised.

!Maclear platform with two documented cases of fraud/false information on prior files.