Maclear Project Wholesale Electronics
- Written by
- Just P2P
- •
- Updated February 23, 2025
Score A-
Established in 2015, Wholesale Electronics Ltd., is specializing in wholesale trade of consumer electronics and accessories. The company has built a strong reputation in the market, developing partnerships with major retail chains and telecom operators in Bulgaria. Its strategic location in Sofia facilitates cooperation with key clients and supports efficient distribution operations.
The project purpose is to secure working capital financing of €1,000,000 to support the execution of two major contracts with Magnum-D and Technomarket Bulgaria EAD, with projected combined revenues of €14,410,000 for 2025. The loan will bridge the gap between supplier prepayments and customer payment terms of 90-120 days.
Investment terms
Loan requested : €1,000,000
Period : 16 months
Interest rate : 15.1%
Company Contribution : None specified
The €1,000,000 loan request with 16-month duration and 15.1% interest rate positions this project at the higher end of typical volumes. Recent platform projects show loans ranging from €350,000 to €2,000,000, with periods of 12-16 months and rates between 14.2-15.9%, suggesting this project’s terms align with market norms while being at the upper end of duration ranges.
Risk metrics
Debt/Equity Ratio : 0.38 (Low risk)
LTV (Loan to Value) : 10% (Very low risk)
Credit History Score : 8/10 (Good)
The company demonstrates strong risk metrics across all categories. The D/E ratio of 0.38 is well within the low-risk range (<1.0), indicating conservative leverage. The LTV of 10% is significantly below the low-risk threshold of 60%, suggesting robust collateral coverage. The credit score of 8/10 indicates good creditworthiness, though not exceptional.
Business profile
Geographic Location : Bulgaria, EU member state
Industry Sector : Wholesale Electronics
Collateral Type : Company Assets and Inventory
The company operates in Bulgaria’s growing electronics market, estimated at €1 billion annually. Its focus on B2B wholesale to major retail chains provides stable revenue streams. The leadership’s strong industry experience and connections, particularly through Mr. Kanazirski’s position at Bulgartransgaz, enhance business credibility. The company maintains valuable inventory worth approximately €769,231 as collateral, supplemented by guaranteed contracts worth €14,423,077
Positive / Risk factors
Positive factors
- Strong leadership with extensive industry experience
- Secured contracts with major retailers
- Conservative financial metrics (low D/E ratio, low LTV)
- Consistent profitability track record
- Diverse client base reducing concentration risk
- Strong collateral coverage
Risk factors
- Extended payment terms (90-120 days) creating working capital pressure
- Heavy reliance on two major contracts for 2025 revenue
- Operating in a competitive market with thin margins
- Need for significant upfront supplier payments
Score A-
The A- rating is justified by the company’s strong financial metrics, established market position, and secured major contracts, which help mitigate working capital risks. While extended payment terms and client concentration pose challenges, these are offset by the conservative leverage (D/E ratio 0.38), robust collateral coverage (10% LTV), and management’s proven track record. The combination of tangible assets, guaranteed contracts, and consistent cash flow makes this an attractive investment opportunity with manageable risks.
