October helps companies from around Continental Europe finance their growth in a fast and simple way.
What are the criteria for borrowing on October?
Where do companies need to be registered? Companies eligible for a financing with October need to be registered in one of the following country:
- The Netherlands
What type of Industry is eligible?
All types of industries are eligible:
- Manufacturing industry
What type of company formats is eligible?
The following types fo companies are eligible:
What type of financial criteria do Companies need to meet?
In order to borrow on October, applicants must meet at least the following conditions:
- With an annual turnover of more than €250.000
- And profitable, meaning EBITDA > 0
What is the profile of the October borrower?
How old is the company?
Not only young companies are searching for financing on October. The companies that borrow have between 2 and 78 years of seniority.
- Convinced by the fast financing proposed by the platform, ViskonGlass, a company founded 15 years ago, chose October in 2018 to finance its growth.
How many employees?
The companies that finance their business on October have from 1 to 1000 employees. They are mostly SMEs: 98% of the companies financed have less than 125 employees.
SMEs that borrow on October are consolidated businesses with a median track record of 14 years and 17 employees. Financially speaking, they are fulfilled companies with median turnover and EBITDA of € 3,2M and € 402K respectively. They already have credit lines with their financial entities.
Types of activity
October supports companies in all sectors. 24% of the companies financed are industries and 20% are commercial companies, mainly transport and e-commerce.