Homeowners in the township who got their houses through government subsidy are unemployed(able) resulting in struggle to provide for their families. To address this they rent out their backyard for people to build shacks. Resulting in unhealthy spaces.
We are bringing a «Backyard Development Loan», with a lending criteria that relies on rental market projection for repayment. We also manage the building project to completion, and further manage leasing and collections. This year we built for 3 homeowners (all woman) in the township – 4 rooms for each Owner. And we are now currently managing 12 Tenants. Through Lending we earn interest and fees. And through Project Management we earn Management Fees. Lastly, we earn fees through property management (leasing, maintenance, & rent collections).In August 2019 we won a Funding support grant of R2m (R1m cash). During 2020 we have issued 3 loans using the R1m cash. As at September 2020 our YTD Revenue is +R360k, EBIT of R210k our Book