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Backyard Development Credit

August 19, 2019 | South Africa

Lunga Nodliwa profile pic

Our business recently won an opportunity to be part of the AlphaCode 12-month incubation programme https://ventureburn.com/2019/08/alphacode-incubate-sa-fintechs/

 

We are a start-up Co bringing an innovative credit product specifically for the development of the people's backyards in the Townships so they can earn additional income and uplift themselves out of poverty - whilst at the same time providing affordable rental stock to the entry market. 

 

Our product's innovation is that our credit can be accessible by an unemployed person, and we have removed repossession risk in our security structure.

 

Now to deliver and manage this solution our business is made up of 3 Strategic Co's as follows:

1- Financial Solutions - underwrites the development loan

2- Construction - which designs and builds the units

3- Property Management - which manages the rental stock and its performance.

 

In September we are going operational. Our plan is to have a fully automated operation (lean model) and we feel you would be the best partner to deliver us to that vision. In 3 years we plan to develop 100 units equalling 400 tenants that will lead to 1600 transaction per month at that point. And we plan to continue to grow...

 

A run-down summary of where we see you being of help:

1- Our Sales and Onboarding process - includes a lot of data collection and contact document (5 min) executed ending with an account creation

2- Our Construction business interacts with lot of stakeholders (Architecture, Engineers, Suppliers, Site Staff, Head Office, etc)

3- Our Property Management business - it is our vision that all our tenants are onboarded via an automated channel and all maintainance and payment modules are intergrated into such system. 

 

We are currently on Office365 and our aim is to have a fully cloud based business operation. 

In September will be kicking off our operations. We also have Due diligence planned with one of the Government Financing Houses and really believe having you onboard to support us will address capacity concerned that have been raised so far.

 

We really hope to hear from you in due course.

 

For story image go to:

https://youtu.be/e4a1UpU7WZQ