Maclear Project Top Equipment
- Written by
- Just P2P
- •
- Updated May 10, 2025
Score B+
TOP EQUIPMENT LTD is a Bulgarian solar energy solutions provider specializing in turnkey solar energy systems. The company manages the entire process from initial consultations to post-installation support, serving residential, commercial, industrial, and agricultural clients.
The purpose of this loan is to fund the fulfillment of two strategic contracts with “Vkusna Yadka” AD and “Laktina” AD, which require a significant initial investment for procurement of photovoltaic panels and inverters. The 600,000€ loan will be divided into three tranches of 200,000€ each for equipment procurement and operational expenses.
Investment terms
Loan requested : 600,000€
Period : 14 months
Interest rate : 14.5%
Company Contribution : 2481,400€ from own funds
The 600,000€ loan with a 14-month duration and 14.5% interest rate funds the purchase of solar equipment for two major client contracts. The substantial contribution of 481,400€ from the company (44.5% of the total procurement cost) demonstrates strong financial commitment to the project. The interest rate appears moderate compared to similar projects on the platform (15%), suggesting acceptable financial risk.
Risk metrics
Debt/Equity Ratio : 1.66 (Medium risk)
LTV (Loan to Value) : 74% (Medium risk)
Credit History Score : 8/10 (Good creditworthiness)
The risk metrics indicate an average risk profile with a D/E ratio of 1.66 and an LTV of 74%, both within acceptable ranges. The credit score of 8/10 reflects fairly good financial management practices. Overall, these indicators demonstrate controlled risk levels with adequate collateral and good repayment capacity.
Business profile
Geographic Location : Bulgaria (EU member state)
Industry Sector : Renewable Energy/Solar
Collateral Type : Equipment/Company assets
TOP EQUIPMENT LTD operates in Bulgaria’s favorable solar market with supportive EU renewable energy policies. The company offers substantial collateral (equipment valued at €1,081,400) and has shown consistent revenue growth (7.5% in 2022, 14.8% in 2023). Its diverse client base across commercial, industrial, and agricultural sectors strengthens its market position.
Positive / Risk factors
Strenghts
- Strong position in a growing market
- Substantial financial contribution from the company
- Dedicated contracts with established clients
- Consistent revenue growth over the past 3 years
- Diverse clients: residential, commercial, industrial, agricultural
- Transfer of ownership to clients at project completion
- Country with favorable renewable energy policies
- No debt in 2024 (financial stability)
Weaknesses
- Debt/Equity Ratio of 1.66
- Medium LTV ratio of 74%
- Deferred payment terms from clients
- Requiring liquidity management
- Dependence on subcontractors for installation
- Compact team size (10 employees)
- Increasing competition in the solar market
Score B+
The company holds a strong position in the growing renewable energy sector. Its substantial financial contribution to the project and dedicated contracts with established clients help mitigate the medium Debt/Equity and LTV ratios.
While deferred payment terms from clients present a liquidity challenge, the company’s consistent revenue growth, good credit history (8/10), and recent debt-free status indicate that the repayment schedule will be met.
Overall, this project represents a moderate-risk investment opportunity with significant growth potential in a sustainable industry.
