Maclear Project Emania
- Written by
- Just P2P
- •
- Updated November 24, 2025
Score B-
Emania Single Member Private Company is a Greek company founded in 2022, based in Marousi. It operates in consumer electronics through a hybrid model: B2C retail via physical store with warehouse, nationwide e-commerce with outsourced delivery, and B2B contracts for customized equipment. The company maintains stable relationships with authorized distributors.
The financing will fund the execution of two signed preliminary agreements with 3DR Engineering Software and Piraeus Container Terminal, totaling 748,000 €. The funds will cover procurement, delivery and installation of IT and infrastructure equipment: servers, storage, networks, VR/AR systems, video surveillance and professional workstations, strengthening Emania’s position as a technology integrator.
Investment terms
Loan requested : 600,000€
Period : 13 months
Interest rate : 14.7%
Company contribution : 200,000 € (undistributed profits)
This 600,000 € loan is part of a targeted growth strategy for the Greek B2B electronics market, estimated at ~3.5 billion € in 2025. This financing represents moderate leverage compared to the 748,000 € in secured contractual value, demonstrating a prudent financial management approach. The 20,000 € contribution demonstrates the owner’s direct commitment to the project.
Risk metrics
Debt/Equity Ratio : 4.55 (High risk)
LTV (Loan to Value) : 78% (Medium risk)
Credit History Score : 7/10 (Acceptable)
The debt-to-equity ratio of 4.55 reveals substantial leverage, placing the project in the high-risk category. This reflects the limited capital structure of a young company facing significant financing needs. This metric is the primary concern in the risk profile and requires careful monitoring of repayment capacity.
The LTV of 78% falls within the medium risk range, offering acceptable coverage of the principal with collateral valued at 770,308 €, representing 128% of the borrowed amount. The credit score of 7/10 indicates fair creditworthiness that could be improved, consistent with an SME in consolidation phase after 3 years of activity marked by profitability fluctuations.
Business profile
Geographic Location : Greece (EU Member State)
Industry Sector : Retail / Consumer electronics
Collateral Type : Equipment/Company assets
The Greek location offers strategic positioning in a domestic market recovering from the 2022-2023 contraction, benefiting from competitive operational costs and developed logistics infrastructure in the Athens region. The electronics sector experiences favorable dynamics driven by accelerated digitalization, professional equipment renewal and growing e-commerce penetration exceeding 1.7 billion €.
The collateral consists of high-value IT equipment linked to contracts, electronic inventory, existing operational assets and a personal vehicle, ensuring tangible diversification. The 2024 difficulties, caused by timing errors on two B2B contracts with anticipated expenses and deferred revenues, were followed by a rapid recovery in the first half of 2025, demonstrating the company’s resilience.
Positive / Risk factors
Positive factors
- Confirmed B2B contracts for 748,000 €
- Solid collateral coverage at 128%
- Rapid profitability recovery in 2025
- Established relationships with authorized distributors
- Hybrid B2C/B2B model diversifying revenues
- Experienced owner in electronics distribution
- Greek market in post-contraction growth
Risk factors
- Very high debt-to-equity ratio at 4.55
- Significant financial performance volatility
- Young company with limited history (3 years)
- Strong dependence on Asian imports
- Highly competitive and commoditized market
- Exposure to exchange rate and price fluctuations
Opinion Emania Single Member
The B- rating is justified by signed preliminary agreements totaling 748,000 € and robust collateral coverage of 128%, which partially mitigate the high debt-to-equity ratio of 4.55. Although past volatility of results remains a concern, the rapid recovery observed in the first half of 2025 with a 9% net margin after 2024 losses demonstrates proven management and adaptation capabilities.
The credit score of 7/10 and controlled LTV at 78% provide additional comfort against structural risks. The overall profile presents an acceptable medium-high risk investment opportunity, supported by concrete growth catalysts and a short 13-month horizon that limits exposure to market uncertainties, despite the constraints of a young company operating in a competitive sector.
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About the Author
Silvère is an economist and IT engineer with numerous years of experience in business management, FinTech investment and digital marketing. He invests mainly in crowdlending especially P2P lending, P2B lending, and real estate crowdfunding.