Business Plan Africa Investor-Ready Plans

Mr Bakery Master Business Plan — Appendix C: Funding and Debt Schedules

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

Appendix C: Funding and Debt Schedules

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C.1 Sources of funding
C.2 SEDFA small enterprise loan — R950'000 at 11.0%
C.3 Equipment finance, ovens and mixers — R620'000 at 13.0%
C.4 Working capital facility — R1 100'000 at 13.5%
C.5 Equipment finance, second vehicle — R260'000 at 13.0%
C.6 Equipment finance, second oven line — R720'000 at 13.0%
C.7 Bank term loan, retail outlet — R900'000 at 12.0%
C.8 Equipment finance, capacity expansion — R620'000 at 13.0%
C.9 Combined debt service

C.1 Sources of funding

Source	R’000	Drawn	Rate	Term
Founder equity	1 620	Year 1	—	—
Growth equity	1 850	Year 3	—	—
SEDFA small enterprise loan	950	Year 1	11.0%	6 years
Equipment finance, ovens and mixers	620	Year 1	13.0%	5 years
Working capital facility	1 100	Year 2	13.5%	5 years
Equipment finance, second vehicle	260	Year 2	13.0%	5 years
Equipment finance, second oven line	720	Year 3	13.0%	5 years
Bank term loan, retail outlet	900	Year 4	12.0%	6 years
Equipment finance, capacity expansion	620	Year 5	13.0%	5 years
Total funding raised	8 640

C.2 SEDFA small enterprise loan — R950'000 at 11.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	52	105	87	70	52
Capital repaid	—	158	158	158	158
Closing balance	950	792	633	475	317

C.3 Equipment finance, ovens and mixers — R620'000 at 13.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	40	81	65	48	32
Capital repaid	—	124	124	124	124
Closing balance	620	496	372	248	124

C.4 Working capital facility — R1 100'000 at 13.5%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	74	149	119	89
Capital repaid	—	—	220	220	220
Closing balance	—	1 100	880	660	440

C.5 Equipment finance, second vehicle — R260'000 at 13.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	17	34	27	20
Capital repaid	—	—	52	52	52
Closing balance	—	260	208	156	104

C.6 Equipment finance, second oven line — R720'000 at 13.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	47	94	75
Capital repaid	—	—	—	144	144
Closing balance	—	—	720	576	432

C.7 Bank term loan, retail outlet — R900'000 at 12.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	—	54	108
Capital repaid	—	—	—	—	150
Closing balance	—	—	—	900	750

C.8 Equipment finance, capacity expansion — R620'000 at 13.0%

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Interest	—	—	—	—	40
Capital repaid	—	—	—	—	—
Closing balance	—	—	—	—	620

C.9 Combined debt service

R’000	Year 1	Year 2	Year 3	Year 4	Year 5
Loans drawn in the year	1 570	1 360	720	900	620
Total interest	92	276	381	412	417
Total capital repaid	—	282	554	698	848
Total debt service	92	558	935	1 110	1 265
Loans outstanding	1 570	2 648	2 813	3 015	2 787
Less cash	(309)	(497)	(1 322)	(932)	(772)
Net debt	1 261	2 151	1 491	2 083	2 015
EBITDA	(288)	64	438	1 043	1 919
Debt service cover	n/m	0.11x	0.47x	0.94x	1.52x
Shareholders’ funds	859	300	1 736	1 761	2 512
Gearing	64.6%	89.8%	61.8%	63.1%	52.6%

Previous sectionB. Appendix B: Capital Schedules

Next sectionD. Appendix D: Risk Register