Maclear Project Alex Future
- Written by
- Just P2P
- •
- Updated June 21, 2025
Score C
Led by CEO Alexandr Iljušcic, Alex Future s.r.o. is a Czech construction services company founded in 2021, specializing in labor outsourcing and equipment rental. The company operates in the Czech Republic and several EU countries, notably Germany, Austria, the Netherlands, Belgium, Sweden, and Finland.
The company seeks to finance its expansion through equipment acquisition (210,000 €) and working capital (140,000 €) to support confirmed contracts for 2025-2026 with major clients including EPC Group, Heitkamp BauHolding, HABAU, and OHL ŽS. This strategic investment aims to improve operational autonomy and capture the growing demand in the European construction personnel market.
Investment terms
Loan requested : 350,000€
Period : 14 months
Interest rate : 14.8%
Loan requested : Existing operational assets and confirmed client contracts
The loan amount of 350,000 € reflects the company’s ambitious expansion strategy in a rapidly growing global personnel market, projected to increase by 221.12 billion € by 2028. This growth is supported by strong operational momentum already demonstrated with billed hours increasing from 3,366 in 2022 to 18,601 in 2024.
The dual-tranche structure intelligently allocates 210,000 € for heavy machinery including excavators and specialized equipment, while 140,000 € supports working capital for confirmed contracts totaling over 49,000 working hours for 2025-2026. The interest rate of 14.8% over 14 months reflects the growth trajectory and revenue visibility guaranteed by contracts.
Risk metrics
Debt/Equity Ratio : 1.32 (Medium risk)
LTV (Loan to Value) : 135% (High risk)
Credit History Score : 7/10 (Correct creditworthiness)
The debt-to-equity ratio of 1.32 is manageable and falls within the medium risk category, indicating a reasonable level of debt for a growing SME. However, the LTV ratio of 135% places the investment in the high-risk category, reflecting limited collateral coverage relative to the loan amount.
The credit history score of 7/10 demonstrates good creditworthiness, reinforced by the self-financing of all previous investments through 2024 and the absence of prior debt. In conclusion, the risk profile presents mixed signals with controlled debt levels but insufficient collateral coverage which constitutes the main point of vigilance for this operation.
Business profile
Geographic Location : Czech Republic (EU member state)
Industry Sector : Construction Services
Collateral Type : Company Assets (vehicles, equipment, personal guarantee)
The Czech location offers competitive labor in terms of costs while respecting EU regulations, and enables attractive cross-border service delivery to Western European markets. The company benefits from strong outsourcing demand in construction, driven by seasonal constraints, regulatory complexity, and infrastructure investments in Germany, Austria, Netherlands.
The contracts established with European companies and multi-jurisdictional mastery demonstrate solid operational capacity. Furthermore, the collateral includes vehicles (Renault Trafic, VW Crafter), construction equipment, and planned acquisitions including heavy machinery, completed by the director’s personal guarantee (74% of loan value).
Positive / Risk factors
Positive factors
- EU construction personnel market in high demand
- 452% growth in billed hours (2022-2024)
- Contractual visibility (49,000+ hours in 2025-2026)
- Experienced CEO with direct sector expertise
- Major clients present in 6+ EU markets
- Geographic location → Competitive pricing
- Previous growth (CAPEX) fully self-financed
- Revenue diversification with equipment rental
Risk factors
- High LTV ratio at 135% (limited collateral coverage)
- Cash flow cycles (working capital volatility)
- Regulatory complexity (multiple EU jurisdictions)
- Manual time tracking and coordination processes
- Debt service impacting short-term profitability
- Limited financial reserves in case of unexpected expenses
Score C
The C rating is justified by the combination of a high LTV ratio (135%) and medium debt-to-equity ratio (1.32) alongside financial metrics that require vigilance. These include minimal 2024 net profits (54 €, due to reinvestment strategy) and debt service impacting projected earnings.
While confirmed contracts totaling 49,000+ working hours and demonstrated operational growth provide some mitigation, the structural financial risks and absence of financial reserves create significant concerns about repayment capacity that outweigh the positive operational fundamentals.
