Gaillard - Opération de marchand de biens

Les Entreprêteurs Property trading Financé

Ce projet est clôturé. L'analyse ci-dessous reflète les informations disponibles au moment de la souscription et n'a pas été mise à jour.

Gaillard - Opération de marchand de biens

Average

score / 100

Yield

10.5%/yr

Duration

18 months

Min. ticket

100 €

Amount raised

300 k€

Invest →

À propos

Refinancing transaction carried out by Smart House Immobilier (SHI), property trader active since 2020 in Haute-Savoie. The fund raising of 300 K€ aims to materialise the value of two plots in Gaillard (RE-MDB): the Belosses plot (140 K€, already under contract without suspensive condition) and the Impasse du Coteau plot (195-205 K€, being marketed). Final repayment no later than February 2028, with partial early repayment expected upon sale of Belosses plot (Sept.-Dec. 2026).

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 · 43.0/75 (48.0 brut, red flags −5)

B1 · Instrument & Structure 8.0/10bon

B1.1: 5/5 - Simple obligations fixed rate French law

B1.2: 2/3 - Direct loan on SHI, well documented French law

B1.3: 1/2 - First ranking mortgage documented but registration status not confirmed at file date

B2 · Opérateur & Track record 9.0/15

B2.1: 4/4 - Ghiandai Loïc appointed, identifiable president, public website

B2.2: 2/5 - Property trader since 2020, ~15 transactions including several completed, real but short experience

B2.3: 3/3 - 3 transactions repaid on this platform

B2.4: 0/3 - Very high gearing (equity 150k€ / debt 4M€ → gearing ~26x), very tight financial structure

B3 · Garanties & Sûretés 10.0/15

B3.1: 7/9 - First ranking mortgage in course of registration on 2 registered plots

B3.2: 1/4 - Smart Holding equity very limited, gearing not documented, personal guarantee SSP not notarised

B3.3: 2/2 - Bank agreements granted for Foncière Smart Living, bank not named but agreement confirmed

B4 · Structure financière 10.0/15

B4.1: 4/5 - Loan-to-Value (ratio prêt/valeur actif) ≈88% (300k€/340k€ plot value); Belosses plot under contract 140k€ reduces actual risk

B4.2: 0/4 - Equity engaged: 0€ explicitly declared

B4.3: 3/4 - Plot 1 under contract without suspensive condition secures ~47% of capital; partial stress test favourable

B4.4: 1/2 - Positive REX 110k€ in 2025 but net margin 3.1% of turnover, modest

B5 · Pré-commercialisation 5.0/10

Belosses plot under contract without suspensive condition (140k€ / 300k€ = 47%)
Impasse du Coteau plot in marketing without firm commitment
Mix of contract plus uncommitted = partial coverage <50% of amount raised

B6 · Permis & Maturité 4.0/5bon

Land secured (plots in SHI ownership with precise cadastral references)
Planning permission obtained on Coteau plot
No works (resale bare land)
Score 4/5 as deeds executed and planning permission obtained

B7 · Marché & Localisation 2.0/3

Gaillard (74240), Haute-Savoie market near Geneva, demand sustained by cross-border workers
Market rising according to live data
Buildable plots with servitude, prices consistent with area
Established market large cross-border agglomeration

⚠ Alertes détectées · −5 pts déduits

Ratio prêt/valeur trop élevé −5 pts

LTV calculated at 88% (300k€ / 340k€ plot valuation, threshold 85%) - loan to value ratio too high on bare land assets

Points forts

✓Belosses plot under contract without suspensive condition, partial repayment secured

✓Operator with 3 transactions repaid without incident on the platform

✓Triple guarantee: first ranking mortgage, GAPD holding 120%, personal guarantee from manager

✓Haute-Savoie/Gaillard market dynamic, sustained cross-border demand

✓Early repayment confirmed in May 2024 according to live data

Risques identifiés

!Operator equity nil (0€ declared), no personal investment in this project

!SHI gearing extremely high (~26x in 2025): very fragile financial structure

!Impasse du Coteau plot not secured commercially at fund raising date

!Funds reallocated towards third party project (Foncière Smart Living) creating risk of deviation from intended use

!GAPD and personal guarantee under private deed (not notarised), limited enforceability

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.