Opportunity - Energy Access Relief Fund
Energy Access Relief Fund
- Energy Access
The Energy Access Relief Fund (EARF) has been designed to provide up to 3.5-year tenure, subordinated, unsecured, low-cost, and subsidized loans to viable companies that are facing liquidity challenges due to COVID-19. The fund intends to focus on the smaller to mid- sized energy access companies that are addressing the needs of the bottom of the pyramid consumers and expects to make about 90-100 loans. While the fund will seek to be as inclusive as possible, its primary focus is expected to be on loans of less than $1M, within a range of $50K to $2.5M.
Since January 2021 – in advance of the first closing the fund – SIMA has started providing loans to small and medium sized borrowers, supported by several key donors.With over hundreds of applications received so far, SIMA has innovated the underwriting process of the EARF such that the EARF loans can be provided to the borrowers in the least possible time. The application process is designed to have two phases, in which the applicants are evaluated against eligibility and underwriting criteria.