Maclear Business lending 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.

ARKMEN HELLAS — Maclear PJ1742

Avoid

score / 100

Yield

14.6%/yr

Duration

14 months

Min. ticket

50 €

Amount raised

550 k€

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À propos

Growth financing of ARKMEN HELLAS I.K.E., Greek company B2B trading in agricultural commodities and distribution of brand snacks (ARKMEN). Activity established since April 2023, profitable each period, based in Athens with access to Piraeus port. Loan intended to finance transition to own warehouse and launch of repackaging line.

Plateforme · 9.0/25

A1 · Statut réglementaire 3.0/8faible

Swiss platform, outside AMF/agrément AMF/ECSP
SRO supervision PolyReg (self-regulation) with FINMA as ultimate backstop
Functional equivalent but inferior to agrément AMF/ECSP or FSC/BaFin licence
No European passport
Score aligned on registration only without agrément AMF licence

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

No agrément AMF/ECSP licence → automatic 1 pt rule not applicable
SRO PolyReg offers minimal framework
Reserve fund existing but opaque and undersized
No documented secondary market
No segregated account publicly confirmed
1 pt for SRO framework

Projet · 25.0/75 (40.0 brut, red flags −15)

B1 · Instrument & Structure 7.0/10

B1.1: 5/5 - Simple obligation fixed rate, recognised Greek law EU

B1.2: 1/3 - Direct borrowing Greek operator, EU local law but limited familiarity

B1.3: 1/2 - No known senior debt, de facto first ranking not registered

B2 · Opérateur & Track record 7.0/15faible

B2.1: 2/4 - Appointed managers (Kontogeorgos, Parkhomenko), LinkedIn profiles not publicly confirmed

B2.2: 2/5 - SME <3 years, first platform borrowing, stable sector but very recent

B2.3: 0/3 - First operation on Maclear, no history on other AMF-regulated platform

B2.4: 3/3 - Company incorporated 2023, audited statements 2023-2024, no proceeding identified, zero financial debt

B3 · Garanties & Sûretés 4.0/15faible

B3.1: 2/9 - Collateral equipment/business assets, no registered security interest nor notarised guarantee

B3.2: 1/4 - Company <3 years, equity not evaluated, guarantor not financially qualified

B3.3: 0/2 - No identified banking partner, project <€2M therefore no RF2

B4 · Structure financière 9.0/15

B4.1: 3/5 - Operational taux de couverture de la dette 2026F: 285k/39k=7.2x, excellent

B4.2: 2/4 - Operator equity contribution: zero pre-existing debt, but equity not precisely quantified

B4.3: 3/4 - ICR 7.2x; sufficient margin for stress -20% revenue

B4.4: 1/2 - Net margin 4.1% in 2026F, within range 2-5% SME

B5 · Pré-commercialisation 6.0/10

Pipeline of 10 documented commitments: 5 signed contracts (56.7%) and 5 LOI (43.3%)
Executed contracts EUR 273,525, non-binding LOIs EUR 208,600
Geographic diversification 4 EU countries
Partial portfolio history

B6 · Permis & Maturité 5.0/5✓ max

Commercial activity established since 2023 (>2 years), audited statements 2023-2024, Greek legal structure I.K.E. in order, EFET/HACCP registration underway as part of plan

B7 · Marché & Localisation 2.0/3

EU agri-food and snacks market in growth (CAGR 5-7%), EU agri-food exports €238Bds in 2025
Segment SME food trading established
Tier 3 positioning with strong international competition

⚠ Alertes détectées · −5 pts déduits

Plateforme non régulée Déjà comptabilisé dans le score plateforme (A1)

Maclear platform without verifiable PSFP/ECSP/CIP/IFP licence - Swiss jurisdiction outside tier-1 EU regulatory scope (-10 pts)

Aucune garantie réelle sur ce projet −5 pts

No registered security interest on this €550,000 SME loan - equipment collateral not formalised, personal/joint and several guarantee absent (-5 pts)

Points forts

✓Company profitable since inception (2023), zero pre-existing financial debt.

✓Strong revenue growth: €346k (2023) → €2.79M (2025), margins in constant improvement.

✓Documented commercial pipeline: 5 signed contracts + 5 LOI across 4 EU countries.

✓Interest coverage ratio 7.2x in 2026 forecast, comfortable.

✓Audited statements 2023 and 2024 provided, correct financial transparency.

Risques identifiés

!Maclear platform without PSFP/ECSP licence: absence of European regulatory investor protection.

!Guarantee limited to equipment/business assets, without mortgage nor formalised joint and several guarantee.

!Company less than 3 years old without testing across full economic cycle.

!2026 forecast assumes +68.7% revenue growth: simultaneous execution of multiple initiatives risky.

!Rate 14.6%/year: above SME norm (7-14%); verify adequacy of guarantees.

⚠ Avertissement sur les risques

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