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Dear Sir/Madam:
Sincerely yours,
Mr. Akpakwu John is applying for financial assistance to the amount of one
Hundred and Sixty Million Naira (N160, 000, 000) only in order to expand the
operations of his business. The applicant has the necessary technical and
entrepreneurial skills to run the proposed business successfully. The demand for his
products increases by the day and forced him to expand the business. Currently he
has some clients on pre-order basis waiting list. The envisaged loan is for his
potential clients that range from small to large electrical power consumers utilizing
solar energy. Solar systems available are of different sizes depending on the
households needs. The market is growing by the day and he cannot meet the
demand because of the financial constraints. It is against this background that he
wants to expand his business.
2.1 VISION
“To go, To do and to create 100% Renewable & Sustainable community
development is all possible with the right product and solutions by SUNSMAT
SOLAR POWER TECHNOLOGIES LTD.
2.2 MISSION
Creating Green Communities off the Grid.
2.3 Current Status
SUNSMART has its executive office located at No. 9A, N’Djamena Street, Off
Aminu Kano Crescent Wuse 2, Abuja Nigeria. The company will serve as a for-
profit holding, investing, and consulting agency, and will work in partnership with
developing communities to establish sustainable RE projects all over Nigeria and
Africa.
2.5 Objectives
SUNSMART sort to be an undisputable leading provider of RE products and
services, and will operate Research & Development divisions for creating
innovative novel technologies that address the environmental crisis of the twenty
first century.
Each system will come with a solar panel, AC charger, charge controller, wiring
connectors and mountain materials.
In order to serve the expected high demand for affordable solar electric systems in
Nigerian, all systems will be sold as pre-assembled kits. These kits will be
designed to be so simple that end-users will be able to perform the installations
themselves. For higher capacity devices technical staffs will be assigned to perform
the installation. For homes or businesses requiring more power, customized
systems will also be available. Furthermore, as the community becomes more
prosperous, people will develop more extravagant tastes for electric appliances and
equipment, such as television sets, satellite dish receivers, refrigerators, and
computers. SUNSMART will continuously readjust this product line according to
customers' power needs. In addition, attractive trade-in and scale-up plans will be
offered to customers in subsequent years, so that smaller systems can be traded in
and upgraded to larger ones.
3.2 Advertising & Promotion Strategy
SUNSMART will rely greatly on publicity and word-of-mouth advertising to
promote these financing plans. The introduction of i-MoGen series into the
Nigerian Market will be tremendous news because of its mobility as people are
used to the conventional systems that uses deep cycle batteries which is stationary,
and will therefore serve as a very useful promotional tool. Residents will be unable
to avoid noticing the sheer scale of this project. Over 100 people will be employed
in this undertaking, and every newspaper and radio station in Nigeria will publicly
monitor its progress.
Due to the visibility of this project, SUNSMART will ensure that high standards of
professionalism are maintained at all times. Embroidered uniforms will be
distributed to the SUNSMART technicians that maintain and operate the devices
nationwide. To complement the publicity aspect, SUNSMART will also post
billboards in the heavily trafficked "downtown" area of all cities in Nigeria. In
addition, posters will be used to announce new service offerings or price
adjustments, as needed. Finally, professionally printed brochures, featuring concise
descriptions of the financing plans offered, as well as general information about
solar energy, will be widely distributed.
Operating Expenses
2019 2020 2021 2022 2023
(1000) (2500) (5, 000) (7, 500) 10, 000)
Marketing 1, 000, 000 2, 000, 000 4, 000, 000 6, 000, 000 10, 000, 000
Contracting
Maintenance 500, 000 650, 000 900, 000 1, 500, 000 3, 000, 000
expenses
Insurance and 1, 000, 000 1, 200, 000 1, 600, 000 2, 000, 000 4, 000, 000
security
Total Operating N2, 500, 000 N3, 850,000 N6, 500, 000 N9, 500, 000 N17, 000, 000
Expenses