193.40USDC

1.93% of 10,000 USDC

Risk scoreBBB

Annual interest23.10 %

Term9 months

Expires

Ten new vans for a hotel-chain contract

Dubai fleet operator GOLD ROAD is raising €511,000 in three tranches to buy 10 Mercedes-Benz Vito Business 2023 vans. They will serve a €256,500 contract with DUTCO TRAVEL & TOURISM for a hotel chain.

193.40USDC

1.93% of 10,000 USDC

Risk score: BBB9 months23.10 %

GOLD ROAD CAR RENTAL CO. L.L.C is a corporate vehicle rental provider, specializing in long-term leases for construction and maintenance firms. Established in 2022 in Dubai, the company operates a fully owned fleet of minibuses and vans, ensuring cost efficiency and asset control. With high fleet utilization (300+ days per year), the company secures stable revenue through long-term contracts with major construction firms.

Fleet & Financial Strategy

The company owns and actively expands its fleet, reinvesting profits into vehicle renewals and acquisitions to meet client demand. This self-financing model eliminates reliance on leasing and external financing while allowing scalable growth through secured credit lines.

Competitive Advantages

Fully owned fleet – Eliminates leasing costs, ensuring financial flexibility and profitability.
Long-term B2B contracts – Partnerships with leading construction firms provide stable cash flow and predictable demand.
High operational efficiency – A lean structure and direct fleet ownership reduce overhead costs.
Sustainable growth strategy – Profits are reinvested into fleet expansion, minimizing reliance on debt.

Key Challenges

High capital expenditures – Fleet ownership requires continuous reinvestment, affecting short-term liquidity.
Limited fleet size – The company’s current fleet restricts its ability to take on larger contracts.
Client concentration risk – A strong reliance on construction clients makes revenue sensitive to industry downturns.
Economic exposure – The cyclical nature of the construction sector may impact rental demand.
Maintenance and depreciation costs – Full ownership results in ongoing upkeep expenses.

Growth Plan of Gold Road Car Rental Co. L.L.C

GOLD ROAD CAR RENTAL CO. L.L.C has established a strong position in the construction and maintenance sectors, securing long-term corporate partnerships that ensure stable revenue streams and high fleet utilization. In 2025, the company is focusing on strengthening its B2B market presence and expanding its corporate fleet rental operations.

Expanding within the B2B sector – The company is executing a €256,500 contract with DUTCO TRAVEL & TOURISM L.L.C, supplying 10 Mercedes Benz Vito vehicles to a hotel chain for a minimum six-month period. This contract, originating from an existing construction client’s affiliated maintenance company, highlights GOLD ROAD CAR RENTAL CO. L.L.C’s ability to leverage industry relationships to expand into new corporate sectors.

By maintaining its focus on corporate rentals, the company ensures business stability while diversifying within the B2B market. The fleet expansion driven by this contract enhances operational capacity and strengthens GOLD ROAD CAR RENTAL CO. L.L.C’s long-term growth potential in the hospitality sector, without shifting towards short-term consumer rentals.

Justification for Growth

The company anticipates significant revenue growth in 2025 and beyond, driven by:

A secured contract with DUTCO TRAVEL & TOURISM L.L.C, ensuring a stable and predictable revenue stream.
High demand for rental vehicles in the UAE, fueled by economic growth, a large expatriate workforce, and an expanding corporate sector.

These factors reinforce GOLD ROAD CAR RENTAL CO. L.L.C’s position as a reliable corporate vehicle rental provider, ensuring sustained financial expansion.

Loan Collateral

GOLD ROAD CAR RENTAL CO. L.L.C secures the €511,000 loan with a combination of existing fleet assets and newly acquired vehicles. The collateral package includes:

Existing fleet, valued at approximately €150,000.
10 new Mercedes Benz Vito Business 2023 vehicles, purchased using the loan funds, with an estimated value of €450,000 - €470,000 after acquisition and initial use.

Despite an estimated 15% annual depreciation, the total collateral value remains sufficient to cover the loan principal. As a rental company, GOLD ROAD CAR RENTAL CO. L.L.C’s fleet serves as both a secured asset and a revenue-generating resource, ensuring financial stability and repayment capacity.

GOLD ROAD CAR RENTAL CO. L.L.C was foundedDec 12, 2022

Start of active work/productionJan 1, 2023

Min target5,000 USDC

Investors1

Interest paymentsmonthly

Principal repaymentsbullet

Total payments9 months

Details

GOLD ROAD CAR RENTAL CO. L.L.C has demonstrated consistent revenue growth, driven by long-term corporate contracts and strategic reinvestment in fleet expansion. The company follows an asset-based financial model, ensuring cost efficiency and stable profitability without reliance on external financing.

Revenue and Net Profit Trends

2023:

Revenue - 102 528€

Net Profit - 41 706€

2024:

Revenue - 141 699€

Net Profit - 24 302€

2025 forecast:

Revenue - 507 040€

Net Profit - 344 129€

In 2024, revenue increased by 38.2%, reflecting strong client demand and new contract acquisitions. However, net profit declined due to a €43,500 reinvestment in fleet expansion. Without these capital expenditures, adjusted net profit would have reached €67,802, showing a real profitability increase of 62.5%.

For 2025, revenue is projected to more than triple, supported by the €256,500 contract with DUTCO TRAVEL & TOURISM L.L.C. The shift to higher-margin vehicles (Mercedes Benz Vito Business 2023) will significantly improve overall profitability.

The 2024 capital expenditure was fully allocated to fleet expansion, impacting short-term profitability but strengthening the company's market position.

Financial Strategy and Sustainability

GOLD ROAD CAR RENTAL CO. L.L.C follows a self-financed growth strategy, reinvesting earnings into fleet expansion instead of relying on debt or leasing. The company's long-term contracts ensure predictable revenue, and its high fleet utilization rate (300+ days per year) maximizes asset productivity.

With a focus on cost efficiency and contract-based revenue generation, the company is positioned for sustainable financial growth while maintaining strong profitability margins.

Total Loan Amount

GOLD ROAD CAR RENTAL CO. L.L.C is requesting €511,000 to expand its fleet and fulfill a €256,500 contract with DUTCO TRAVEL & TOURISM L.L.C. The loan will finance the purchase of 10 Mercedes Benz Vito Business 2023 vehicles, supporting the company’s expansion into the hospitality sector while strengthening its market position.

Number of Tranches and Disbursement Schedule

The loan will be disbursed in three tranches, structured to align with vehicle procurement and minimize financial strain:

€205,000 (4 Mercedes Benz Vito Business 2023 2.0T 7Seats)
€153,000 (3 Mercedes Benz Vito Business 2023 2.0T 7Seats)
€153,000 (3 Mercedes Benz Vito Business 2023 2.0T 7Seats)

This phased approach ensures efficient capital allocation, allowing the company to integrate the new vehicles into operations while maintaining financial flexibility.

Intended Use of Funds

The entire loan amount will be allocated to the purchase of 10 premium commercial vehicles, essential for fulfilling the hotel contract and expanding the company’s B2B portfolio.

Impact on Business Growth

The loan will directly contribute to increased revenue and profitability in 2025. The secured DUTCO TRAVEL & TOURISM L.L.C contract will drive revenue to €507,040, while net profit is expected to reach €344,129. The introduction of higher-margin vehicles will improve fleet profitability, and the expansion into the hospitality sector will open new opportunities beyond construction and maintenance clients.

Beyond immediate financial impact, the loan will strengthen the company’s competitive position, allowing it to expand its client base, secure additional long-term contracts, and compete effectively with larger rental providers.

Risk scoring

Total risk scoreBBB

Debt to equity3.33

LTV85%

Credit history8 / 10

Collateral typeCompany Assets

Rating BBB (the fourth tier) reflects a small but profitable fleet operator: revenue grew every year since 2023 and each year closed with a net profit, backed by long-term contracts with construction firms and fleet utilisation of more than 300 days a year.

D/E (Debt-to-equity) of 3.33 is high — the company is leveraged relative to its equity;
LTV of 85% means the fleet pledged as collateral is worth more than the loan;
Credit history score of 8/10.

Keep in mind:

revenue depends heavily on construction clients, a cyclical sector;
the 2025 growth rests largely on a single contract;
vans depreciate by an estimated 15% a year and need ongoing maintenance;
continuous fleet reinvestment weighs on short-term liquidity.

Key challenges

High capital expenditure — fleet ownership requires continuous reinvestment, affecting short-term liquidity.
Limited fleet size — the current fleet restricts the company’s ability to take on larger contracts.
Client concentration — a strong reliance on construction clients makes revenue sensitive to industry downturns.
Economic exposure — the cyclical nature of the construction sector may affect rental demand.
Maintenance and depreciation costs — full ownership brings ongoing upkeep expenses.

Financials

Revenue 2024€141,699

Adjusted net profit 2024€67,802

Revenue 2025F€507,040

Fleet utilisation300+ days

€ thousands

€103k103

€142k142

€507k*507*

202320242025F

* 2025 is the company’s forecast, driven by the DUTCO TRAVEL & TOURISM contract; 2024 net profit is after €43,500 of fleet reinvestment

GOLD ROAD has grown on long-term B2B rentals. The new contract with DUTCO TRAVEL & TOURISM is expected to drive a step change in 2025.

Growing revenue

Revenue rose by 38.2% in 2024, on strong client demand and new contracts.
For 2025, revenue is forecast at €507,040 — more than triple the 2024 level.

Profitability

Net profit dipped in 2024 because €43,500 was reinvested in the fleet.
Excluding that spend, adjusted net profit was €67,802, a 62.5% increase.
Net profit is forecast at €344,129 in 2025, helped by higher-margin vans.

Efficient fleet

The fleet is fully owned, so there are no leasing costs.
Vehicles are rented out more than 300 days a year.

Market

The GCC car rental market is expected to grow from $0.9B in 2023 to $2.1B by 2030, a 15.12% CAGR, and the wider Middle East market is projected to reach $3.74B by 2029. In the UAE, tourism, a large expatriate workforce and corporate demand drive a highly competitive market, with players such as Thrifty, Sixt, Hertz and Fast Rent a Car.

Financial performance

The company has shown consistent revenue growth, driven by long-term corporate contracts and reinvestment in fleet expansion. It follows an asset-based financial model, aiming at cost efficiency and stable profitability without reliance on external financing.

Metric, EUR	2023	2024	2025F
Revenue	102,528	141,699	507,040
Net profit	41,706	24,302	344,129

In 2024 revenue increased by 38.2%, reflecting strong client demand and new contracts. Net profit declined because of a €43,500 reinvestment in fleet expansion; without this capital expenditure, adjusted net profit would have reached €67,802, a real profitability increase of 62.5%. The 2024 capital expenditure went entirely to fleet expansion, weighing on short-term profitability but strengthening the company’s market position.

For 2025 revenue is projected to more than triple, supported by the €256,500 contract with DUTCO TRAVEL & TOURISM L.L.C, and the shift to higher-margin vehicles (Mercedes-Benz Vito Business 2023) is expected to improve overall profitability significantly.

Financial strategy and sustainability

The company follows a self-financed growth strategy, reinvesting earnings into fleet expansion instead of relying on debt or leasing. Its long-term contracts give predictable revenue, and a fleet utilisation rate of 300+ days per year maximises asset productivity.

Growth plan

GOLD ROAD has established a strong position in the construction and maintenance sectors, with long-term corporate partnerships that ensure stable revenue and high fleet utilisation. In 2025 the company is focusing on strengthening its B2B presence and expanding its corporate fleet rental operations.

Expanding within the B2B sector. The company is executing a €256,500 contract with DUTCO TRAVEL & TOURISM L.L.C, supplying 10 Mercedes-Benz Vito vehicles to a hotel chain for a minimum six-month period. The contract came through the affiliated maintenance company of an existing construction client, showing how the company leverages industry relationships to enter new corporate sectors. By keeping its focus on corporate rentals, the company diversifies within B2B without shifting towards short-term consumer rentals.

The expected revenue growth in 2025 and beyond is driven by:

the secured contract with DUTCO TRAVEL & TOURISM L.L.C, giving a stable and predictable revenue stream;
high demand for rental vehicles in the UAE, fuelled by economic growth, a large expatriate workforce and an expanding corporate sector.

Market assessment

Regional market

The GCC car rental market is growing rapidly, expected to expand from $0.9 billion in 2023 to $2.1 billion by 2030 (CAGR 15.12%). The Middle East car rental market as a whole is projected to reach $3.74 billion by 2029 (CAGR 10.42%). Key growth drivers are increased tourism, rising expatriate populations and growing business activity; government regulations limiting vehicle ownership add to rental demand, particularly in urban centres.

UAE market

The UAE has one of the most developed car rental industries in the region, driven by high tourist inflow, a large expatriate workforce and corporate demand. The market is highly competitive, with global and regional players such as Thrifty, Sixt, Hertz and Fast Rent a Car, and many companies are adopting digital solutions for fleet management and bookings.

Collateral breakdown

10 new Mercedes-Benz Vito Business 2023 vans · €450K€150K

10 new Mercedes-Benz Vito Business 2023 vans€450,000

Existing fleet of minibuses and vans€150,000

Total pledged€600,000Company estimates; the new vans at the low end of their €450,000–€470,000 range after acquisition and initial use.

The €511,000 loan is backed by the company’s vehicle fleet.

1. New vans bought with the loan — €450,000–€470,000

10 Mercedes-Benz Vito Business 2023 vans, bought with the loan funds.
Estimated value after acquisition and initial use.
The vans also earn the rental income that repays the loan.

2. Existing fleet — about €150,000

The minibuses and vans the company already owns.

Even allowing for an estimated 15% annual depreciation, the total collateral value remains sufficient to cover the loan principal.

Loan collateral

GOLD ROAD secures the €511,000 loan with a combination of existing fleet assets and newly acquired vehicles:

the existing fleet, valued at approximately €150,000;
10 new Mercedes-Benz Vito Business 2023 vehicles, purchased with the loan funds, with an estimated value of €450,000–€470,000 after acquisition and initial use.

Despite an estimated 15% annual depreciation, the total collateral value remains sufficient to cover the loan principal. As a rental company, GOLD ROAD’s fleet is both a secured asset and a revenue-generating resource.

Loan amount, tranches and use of funds

The company is requesting €511,000 to expand its fleet and fulfil the €256,500 contract with DUTCO TRAVEL & TOURISM L.L.C. The entire amount goes to the purchase of 10 premium commercial vehicles. It is disbursed in three tranches aligned with vehicle procurement, so the new vehicles can be integrated into operations while the company keeps financial flexibility.

Tranche	Amount	Vehicles
1	€205,000	4 Mercedes-Benz Vito Business 2023 2.0T, 7 seats
2	€153,000	3 Mercedes-Benz Vito Business 2023 2.0T, 7 seats
3	€153,000	3 Mercedes-Benz Vito Business 2023 2.0T, 7 seats
Total	€511,000	10 vehicles

Impact on the business

The contract is expected to drive 2025 revenue to €507,040 and net profit to €344,129. Higher-margin vehicles improve fleet profitability, and the move into hospitality opens opportunities beyond construction and maintenance clients. Beyond the immediate financial effect, the loan strengthens the company’s competitive position, letting it widen its client base, secure more long-term contracts and compete with larger rental providers.

How the loan pays out

Your USDC investment behaves like a 9-month bond: monthly interest payments, then principal back at month .

Date	Interest	Principal	Total

Net profit+ USDC

Total return USDC

Borrower

GOLD ROAD CAR RENTAL CO. L.L.CDubai, United Arab Emirates · founded 2022

Reg No: 1859770www.cargoldadventure.com

About the company

GOLD ROAD CAR RENTAL CO. L.L.C is a corporate vehicle rental provider, specialising in long-term leases for construction and maintenance firms. Established in 2022 in Dubai, the company operates a fully owned fleet of minibuses and vans, ensuring cost efficiency and asset control. With high fleet utilisation (300+ days per year), it secures stable revenue through long-term contracts with major construction firms.

Fleet and financial strategy

The company owns and actively expands its fleet, reinvesting profits into vehicle renewals and acquisitions to meet client demand. This self-financing model removes reliance on leasing and external financing while allowing scalable growth through secured credit lines.

Competitive advantages

Fully owned fleet — no leasing costs, ensuring financial flexibility and profitability.
Long-term B2B contracts — partnerships with leading construction firms provide stable cash flow and predictable demand.
High operational efficiency — a lean structure and direct fleet ownership reduce overhead costs.
Sustainable growth strategy — profits are reinvested into fleet expansion, minimising reliance on debt.

Key clients and market positioning

The company primarily serves corporate clients in the construction and maintenance sectors, which ensures stable long-term contracts and high fleet utilisation. Its strategic contract with DUTCO TRAVEL & TOURISM L.L.C marks an expansion into the hospitality sector. Its major clients include:

DUTCO CONSTRUCTION CO. LLC
CONSTRUCTION & BUILDING ENGINEERING LLC
BELHASA PROJECTS GROUP LLC
KHANSAHEB CIVIL ENGINEERING LLC
AL SHAFAR GENERAL MAINTENANCE & DECORATION LLC

The long-term agreements provide predictable revenue streams, reducing exposure to short-term market fluctuations.