Essence Premium Catering Business Plan — Appendix C: Funding and Debt Schedules

Facility-by-facility drawdown, interest and amortisation schedules across the loans and contract-backed facilities.

Appendix C: Funding and Debt Schedules

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C.1 Sources of funding
C.2 SEDFA small enterprise loan — R1 150'000 at 11.0%
C.3 Equipment finance, kitchen and first vehicle — R780'000 at 12.5%
C.4 Contract-backed working capital facility, first tranche — R1 380'000 at 13.0%
C.5 Equipment finance, second vehicle and cold chain — R690'000 at 12.5%
C.6 Contract-backed working capital facility, second tranche — R1 480'000 at 13.0%
C.7 Contract-backed working capital facility, third tranche — R940'000 at 13.0%
C.8 Equipment finance, bulk production and fourth vehicle — R1 150'000 at 12.5%
C.9 Equipment finance, kitchen expansion and fifth vehicle — R1 320'000 at 12.5%
C.10 Combined debt service

Source	R’000	Drawn	Rate	Basis
Founder equity	2 150	Year 1	—	—
Growth equity	2 100	Year 3	—	—
SEDFA small enterprise loan	1 150	Year 1	11.0%	6-year amortising
Equipment finance, kitchen and first vehicle	780	Year 1	12.5%	5-year amortising
Contract-backed working capital facility, first tranche	1 380	Year 2	13.0%	Revolving against the debtor book
Equipment finance, second vehicle and cold chain	690	Year 2	12.5%	5-year amortising
Contract-backed working capital facility, second tranche	1 480	Year 3	13.0%	Revolving against the debtor book
Contract-backed working capital facility, third tranche	940	Year 4	13.0%	Revolving against the debtor book
Equipment finance, bulk production and fourth vehicle	1 150	Year 4	12.5%	5-year amortising
Equipment finance, kitchen expansion and fifth vehicle	1 320	Year 5	12.5%	5-year amortising
Total funding raised	13 140

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	63	127	105	84	63
Capital repaid	—	192	192	192	192
Closing balance	1 150	958	767	575	383

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	49	98	78	59	39
Capital repaid	—	156	156	156	156
Closing balance	780	624	468	312	156

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	90	179	179	179
Capital repaid	—	—	—	—	—
Closing balance	—	1 380	1 380	1 380	1 380

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	43	86	69	52
Capital repaid	—	—	138	138	138
Closing balance	—	690	552	414	276

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	96	192	192
Capital repaid	—	—	—	—	—
Closing balance	—	—	1 480	1 480	1 480

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	—	61	122
Capital repaid	—	—	—	—	—
Closing balance	—	—	—	940	940

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	—	72	144
Capital repaid	—	—	—	—	230
Closing balance	—	—	—	1 150	920

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	—	—	83
Capital repaid	—	—	—	—	—
Closing balance	—	—	—	—	1 320

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Loans and facilities drawn	1 930	2 070	1 480	2 090	1 320
Total interest	112	357	545	717	874
Total capital repaid	—	348	486	486	716
Total debt service	112	705	1 031	1 203	1 590
Loans outstanding	1 930	3 652	4 647	6 251	6 855
Less cash	(455)	(633)	(1 403)	(1 429)	(1 211)
Net debt	1 475	3 019	3 244	4 822	5 644
EBITDA	(476)	(143)	225	968	2 110
Debt service cover	n/m	n/m	0.22x	0.80x	1.33x
Shareholders’ funds	1 219	300	1 506	1 046	1 409
Gearing	61.3%	92.4%	75.5%	85.7%	83.0%