Business Plan Africa Investor-Ready Plans

Sparkle Lane Business Plan — Appendix C: Funding and Debt Schedules

Facility-by-facility drawdown, interest and amortisation schedules across the loans and facilities funding the rollout.

Appendix C: Funding and Debt Schedules

Jump to section

On this page

C.1 Sources of funding
C.2 SEDFA small enterprise loan — R800'000 at 11.0%
C.3 Equipment finance, site one — R540'000 at 13.0%
C.4 Working capital facility — R900'000 at 14.0%
C.5 Equipment finance, site two — R780'000 at 13.0%
C.6 Bank term loan, site three — R1 400'000 at 12.5%
C.7 Combined debt service and cover

C.1 Sources of funding

Source	R’000	Drawn	Type
Founder equity	1 400	Year 1	Ordinary shares
Growth equity, site two	2 400	Year 3	Ordinary shares
SEDFA small enterprise loan	800	Year 1	Term loan, 11.0%, six years
Equipment finance, site one	540	Year 1	Asset-backed, 13.0%, five years
Working capital facility	900	Year 2	Revolving term, 14.0%, five years
Equipment finance, site two	780	Year 3	Asset-backed, 13.0%, five years
Bank term loan, site three	1 400	Year 5	Term loan, 12.5%, six years
Total funding raised	8 220
Landlord installation allowance	180 per site	At each build	A reduction in cost, not a source of funding

C.2 SEDFA small enterprise loan — R800'000 at 11.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	44	88	88	73	59
Capital repaid	—	—	133	133	133
Closing balance	800	800	667	533	400

C.3 Equipment finance, site one — R540'000 at 13.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	35	70	56	42	28
Capital repaid	—	108	108	108	108
Closing balance	540	432	324	216	108

C.4 Working capital facility — R900'000 at 14.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	63	126	126	101
Capital repaid	—	—	—	180	180
Closing balance	—	900	900	720	540

C.5 Equipment finance, site two — R780'000 at 13.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	51	101	81
Capital repaid	—	—	—	156	156
Closing balance	—	—	780	624	468

C.6 Bank term loan, site three — R1 400'000 at 12.5%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	—	—	88
Capital repaid	—	—	—	—	—
Closing balance	—	—	—	—	1 400

C.7 Combined debt service and cover

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Loans drawn in the year	1 340	900	780	—	1 400
Total interest	79	221	321	343	356
Total capital repaid	—	108	241	577	577
Total debt service	79	329	562	920	933
Loans outstanding	1 340	2 132	2 671	2 093	2 916
Less cash	(163)	(642)	(1 218)	(1 121)	(652)
Net debt	1 177	1 490	1 453	972	2 264
EBITDA	(426)	(119)	142	765	1 363
Debt service cover	n/m	n/m	0.25x	0.83x	1.46x
Gate before site three	1.30x	1.30x	1.30x	1.30x	1.30x

Previous sectionB. Appendix B: Site Capital Schedule

Next sectionD. Appendix D: Risk Register