SPECIFIC OBJECTIVE OF BUSINESS PLAN

SUNSMART Solar Power Technology Ltd is seeking a loan funding of One

Hundred and Sixty Million (N160, 000, 000) only. The company primarily needs
capital to fund four areas of growth in the company:
1. Main objective is to obtain a loan.
2. Implement a cost effective promotional strategy that will maximize awareness of
our business and renewable energy sector.
 Sunsmart Solar Power Technologies Ltd
No. 8 DJamena street
Abuja
January 7, 2018

The Branch Manager

Access Bank Plc
Plot 673
Aminu Kano Crescent
Wuse II
Abuja

Dear Sir/Madam:

APPLICATION FOR LOAN FINANCE

SUNSMART Solar Power Technology Ltd is an existing business that is owned
and managed by Mr. Akpakwu John for the last three years.
The objective of this business plan is to approach your institution for loan funding
of N100, 000, 000 in order to buy equipment and stock of intelligent Mobile
Generators i-MoGen.
I, Mr. Akpakwu John undertake to honor all monthly repayments during the loan
period. Should your approval be forthcoming, please be at liberty to contact the left
undersigned at your earliest convenience for matters concerning the loan
agreements as well as conditions and repayment procedures.
I hope that this business plan will form a basis for further negotiations.

Sincerely yours,

Mr. Akpakwu John

General Manager
09033233269
1.0 EXECUTIVE SUMMARY
The core business of Sunsmart Solar Power Technology Ltd is the supply,
installation and repairs of integrated Mobile Generators (i-Mogen) for Urban and
rural households.
Mr. Akpakwu John is full time self-employed in the renewable energy sector.
Solar Home systems are used to power lighting, entertainment and information
electronics (radio, television, CD players, etc.) and to a certain extent productive or
environment improvement appliances. Akpakwu John is a qualified Solar Engineer.
His target area of operation is Nigeria and Africa at Large. His business is currently
based at the Federal Capital Territory Abuja, Nigeria. The business is installing
between 300 Watt and 6,000 Watt solar panels and hardware. These photovoltaic
panels are of the monocrystalline types which are of a high voltage percentage
output. Thus using sunlight available in sufficient quantities in the region.

1.1 The role for off-grid electrification

Off-grid electrification is the provision of basic electricity services to communities

and potential electricity customers who may not have access to grid electricity, or
not satisfied with grid electricity distribution and off-grid electricity becomes an
alternative.
The intelligent mobile generators (i-mogen) series introduced is a must have
because of its mobility and the use of lithium ion batteries which has a long life
span. The series are of various capacity depending on demand based on load
requirement.

1.2 Background of Owner

Mr. Akpakwu John is a graduate of Electrical/Electronic Engineering and has over
14yrs experience in the installation of electricity projects and solar devices in
Nigeria
1.3 THE UTILISATION OF THE LOAN WILL BE AS FOLLOWS

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.

2.0 COMPANY OVERVIEW

The commitment of SUNSMART SOLAR POWER TECHNOLOGIES LTD will
be to spread technologies for harnessing renewable energy (RE). The term
"renewable" refers to sources of energy that can never be diminished or exhausted,
such as wind and sun. The most common commercial RE technologies are
photovoltaic (PV) modules, wind turbines, and, increasingly, fuel cells, which
produce electricity from solar radiation, wind, and hydrogen, respectively.

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.

2.4 Market & Services

SUNSMART will immediately specialize in providing intelligent Mobile
Generators for rural communities, Barbing Saloons, restaurants, markets etc, and
will utilize two different business strategies to distribute power. First, SUNSMART
will sell solar electric systems for home and commercial applications by allowing
customers to finance the cost of these systems over time. Second, the company will
offer end-user services direct to customers by establishing electrified community
centers in the heart of their villages. At these centers, people will be able to
purchase services ranging from crop processing to refrigeration to
telecommunications access to internet browsing.

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.

2.6 Products & Services

Description of Products
Main renewable products by SUNSMART includes;
Intelligent Mobile Generators (i-Mogen)
2.7 Features
 Free Clean Electricity
 No More Brown Out
  Power on the go
 Zero Diesel
 Soundless
 Water Proof
 Shockproof
 Fireproof

2.8 Description of Services

SUNSMART will offer financing packages for home and commercial-scale solar
electric systems. SUNSMART will enable Nigeria and the rest of Africa customers
to purchase systems in affordable monthly installments (Pay as you go), this will
be integrated with their mobile phones.
The intelligent Mobile generator series will bring to an end the suffering of
Africans, as this product employs the use of lithium- ion batteries against the
conventional deep cycle batteries hence its mobility.

3.0 MARKETING STRATEGY

3.1 Target Market Strategy
In order to make solar electricity affordable, SUNSMART will offer families and
businesses the option of paying for their system in Twelve months installments
with an initial deposit of 50% cost of product.
The i-MoGen series is sized with the following capacity, Max6000w, Max3000w,
Mid2000w, Mid 1500w, Mid 1000w, Min 500w and Min 300w.
The capacities are designed to serve different categories of users.

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.

3.3 Marketing & Sales Forecasts

SUNSMART's initial projected target market in Nigeria is about 1, 000 families.
There are over 50 Million people without electricity in Nigeria

Projected Revenue Forecast for the year 2019-2023

2019 2020 2021 2022 2023
Sales 1000 2500 5000 7500 10, 000
Other Services 0 0 0 0 0
Revenue N180, 000,000 N450, 000, N9, 000, 000, 000 N1, 350, 000, 000 N1, 800, 000, 000
000

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

4.0 ORGANIZATION & MANAGEMENT

SUNSMART will be owned and operated as a for profit corporation with Akpakwu
John being the sole shareholder, voter and board member. This management
structure is deemed sufficient and best suits the company’s needs. SUNSMART
will seek qualified employees as the company begins to succeed in gaining work.

4.1 Management Profile

Akpakwu John will draw upon his specialized education and experience to manage
the overall operation and direction of the business to ensure its present and future
success. For over 14 years, Mr. Akpakwu John has invested time and money into
becoming the Solar Energy specialist he is today. Some of the key highlights of Mr.
Akpakwu John employment history, education and relevant experience include:
A graduate of Engineering from the University of Agriculture, with background in
Electrical/Electronic Engineering.
Managing Director – Sunsmart Solar Power Technology Ltd
14yrs plus experience in Electrical Engineering and solar technology services

As identified, Mr. Akpakwu John has accumulated a number of specialized

industry skills, and managed projects which will assist him in the successful
management of this business.
As the owner of the company, Mr. Akpaku John will be required to fulfill the
following key duties and responsibilities; they are

 Overall management of SUNSMART;

 Establish and maintain client relationships;
 Maintain strategic alliances and partnership with key companies;
 Provide accurate and timely quotes/proposals as well as sales presentation to
potential clients;
 Human resource management;
 Project management and direction;
  Oversee financial activities of the business;
 Deliver and complete all services of the company;
 Maintain the business’ assets.

For effective service delivery, the following staffs are hired

1. Technical assistant
2. Sales Manager
3. Director Business Administration
4. Accountant

4.2 Administrative Expenses

2019 2020 2021 2022 2023
Salary Mr. 1,200, 000 1, 400, 000 1, 800, 000 2, 000, 000 2, 400, 000
Akpakwu John
Salary 800, 000 850, 000 1,000, 000 1,100, 000` 1, 200, 000
Accountant
Salary Technical 750, 000 800, 000 880, 000 1, 000, 000 1, 100, 000
Staff
Legal & 600, 000 670, 000 750, 000 850, 000 1 ,000,000
Accounting
Services
Office Expenses 500, 000 800, 000 1, 000, 000 1, 100, 000 1, 200, 000
Total Admin N3, 850, 000 N4, 520,000 N5, 430, 000 N6, 050, 000 N6, 900, 000
Expenses

5.0 Financial Analysis

Project forecast is based on the cheapest i-Mogen series with 300w capacity, which
will be sold at N180, 000 only. Equipment with clearing will arrive to warehouse at
N160, 000 only. A profit margin of 20, 000 per item.
For the first year a profit of N13, 650, 000 is projected, less operating and
administrative expenses.
Subsequent years is proposed improved sales and commission.