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Credit/loans offered with assets, e.g. inventory and equipment, used as collateral. Transaction is recorded on the balance sheet as a debt affecting the financial position of a company. Credit/loans offered with assets, e.g. inventory and equipment, used as collateral. Transaction is recorded on the balance sheet as a debt affecting the financial position of a company. Funds used to purchase physical assets such as property, plants, buildings, technology, and equipment. Brick and mortar only (including construction and labour), no soft costs included. A security pledged for the repayment of a loan. Debts that have longer than commercially available loan tenors, or lower that commercially available interest rates, or less restrictive collateral requirements, or forgiveness for all or some part of the principal. A debt that can be converted into equity or stock. International financial institution with a mandate to finance projects that achieve development outcomes, e.g. The Word Bank. Independent Power Producers that are at pre-PPA stage but are in the process or have already obtained relevant permits. Refers to contractors who design the project, procure the equipment, and construct the facility for a client all under a single contract and for a fixed price amount. A metric used in financial analysis to estimate the profitability of potential investments. Refers to the timeframe within which an investment will be held before being sold. Monetary assets, usually grants, loans, or equity, give to fund seekers for operations, expenditures, and project execution. As opposed to “pari passus” guarantee coverage, where the guarantor covers loan losses on an equal basis with a lender, (i.e. where the loan principal is $1000 and $100 is lost and the pari passu cover is 50%, the guarantor pays out only 50%). With first loss, the guarantor provides a pay-out of 100% of the losses up to first loss cover, (i.e. where the loan principal is $1000, and the first loss coverage is 10%, on the same $100 lost, the guarantor provides a pay-out of the full $100, since it is not greater than 10% of the loan amount). A funder or investor giving grants, technical assistance, equity and mezzanine/subordinated loans, concessional loans, commercial loans, guarantees and risk mitigation instruments, or any other financial instrument. A form of financial assurance used to secure debt liabilities. Can be called upon (called a guarantee call) by the lender in the event of a loan default or payment arrears. The guarantee provider is called a guarantor. Only considers investments meeting certain economic, environmental, and social criteria, while also generating financial returns. A discount rate used to determine the future profitability an investment is expected to generate over time. Involves utilising a company’s purchased inventory as collateral for a loan. Financial regulations that comply with Islamic law (Shariah) and follow specific stipulations e.g. inability to take interest-based loans. A type of debt that is only paid out after other debts are settled when a company gets liquidated due to insolvency. A type of debt that is only paid out after other debts are settled when a company gets liquidated due to insolvency. IPPs that have equity partners but no EPC contract and no debt financing. The amount of own equity that a lender requires the borrower to place towards the total project cost in order to provide a loan for the balance. A claim put on installed equipment to be used as collateral. Used for bank loans and insurance contracts to indicate the length of time a loan is valid until it’s due. Funds paid out to an organisation based on some percentage contribution made to the total project cost by the grantee. A form of debt instrument which is subordinated to senior lenders, therefore carries a higher interest for the greater risk assumed of non-payment and is usually convertible to equity IPPs that have acquired land, PPA, and the relevant permits. A one-time fee charged by a lender/guarantor for processing and approving a loan/guarantee application. Where the guarantor assumes only partial risk of non-payment, usually 50%. The shares of the company are collateralised to secure a loan. Assets owned by the company, such as equipment or a building, are collateralised to secure a loan. For individual shareholders, personal property assets of individual shareholders are collateralised to secure a loan. For IPPs, this is the ideation stage before the acquisition of relevant permits. In contrast to the household usage of energy resources, productive usage refers to utilising energy for agriculture, commercial, and industrial purposes. Restructuring a debt. Initial funding for a business to turn an idea into a product or service. Debt that is paid out first when a loan is in arrears, after a loan is called into default or when a company is dissolved. Funding rounds for companies at different developmental stages. Series A is the funding raised after seed funding, while Series C is raised once company is almost at maturity and looking to scale or enter new markets. An independent power producer that generates and sells less than 10MW. A specialised investment fund that pools resources to invest equity solely in the energy sector. A fund set up to solely provide debt financing for the off-grid energy sector enterprises. A large corporate investor that invests for strategic gain, e.g. to access a promising technology. Reduced interest rate that is lower than commercial interest rates. Third affiliated party that agrees to back a loan or debt. Average amount of funding made available for each individual recipient. Day-to-day operational expenses.

Description

AHL Bridge Debt serves high growth businesses looking to maintain operations at scale but facing a cashflow challenge. Bridge Debt quickly provides short term financing within 90 days to bridge companies to a future liquidity event. It covers Energy Access as well as Food & Agriculture and Financial Inclusion.

Information

Financial instrument type
Commercial Debt
Financing entity type
Impact Investor
Market segments
Mini-grids: Solar, Hybrid

Solar Home Systems

Clean Cooking: LPG, Other

Other: Agriproductive Use
Geographic focus
Eastern Africa
Southern Africa
Countries
Angola
Botswana
Burundi
and 22 more
Comoros
Djibouti
Eritrea
Ethiopia
Kenya
Lesotho
Madagascar
Malawi
Mauritius
Mozambique
Namibia
Rwanda
Seychelles
Somalia
South Africa
South Sudan
Sudan
Swaziland
Tanzania
Uganda
Zambia
Zimbabwe
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Activities eligible for funding
  • For off-grid enterprises:
  • Working capital
  • Inventory financing
  • Asset based financing (on balance sheet)
Currencies
US Dollars
Eligibility criteria
  • Has to be incorporated
  • Should be legally registered entity in the target country/region
  • Should have been operational for a minimum amount of time: 3 years
  • Earned revenue requirements for the past twelve months: > EUR 500,000
  • Should be providing leverage/own equity: Varies
Special set-asides or additional evaluation points for the following groups
  • Women-owned enterprises
  • Indigenous-owned/nationally-owned enterprises
  • Applicants with health conditions or impairments
Application documents needed
  • Pitchdeck
  • Company registration documents
  • Tax compliance certificate
  • Historical financial statements
Technical assistance
No technical assistance is provided
Types of technical assistance provided
  • N/A
Type of loans provided
Senior Debt
Junior Debt
Subordinated Debt
Range of loan tenors
6 - 12 months for bridge funding; 3 - 4 years for term debt
Interest rate
10 - 15 %
Collaterals or other securities required
  • Assignment of receivables
  • Lein of the installed equipment
  • Pledges of the shares in borrower’s company
  • Pledges of real property assets of company
  • Generally unsecured, but tied to a specific liquidity event that enable bullet repayment, mainly via a larger capital raise (equity or debt), but can also be a large contract payment, asset sale etc. The loan size will be no greater than 25% of the liquidity event.
Minimum loan amount
500,000 - 1,000,000 (USD)
Maximum loan amount
1,000,000 - 3,000,000 (USD)
Average ticket size per transaction
500,000 - 1,000,000 (USD)
Fund manager
AHL Venture Partners (AHL) is a fund manager specialized at investing in high-growth & high-impact businesses in Africa. AHL manages funds for Adolf H. Lundin Charitable Foundation (AHLCF). AHL has a portfolio spanning direct equity and debt, fund investments and global fixed income.
Headquarters
Liechtenstein
Other branches
Kenya
Public contact