- Loan Successfully Funded On 10 Nov 2022 and in Repayment
Making School Meals Healthy and Inclusive in Pokhara, Nepal
Sarvaguna Foods & Kitchen
- Pokhara, Nepal
Menu
- 90,000 AUD
Loan in repayment
Loan in repayment
Sarvaguna is seeking an impact loan to develop its mass catering school meal business by (a) setting up its 3 satellite serving cafeteria in 3 public schools, (b) investment in delivery vehicles, and (c) setting up tools, equipment and human resources required for standardised and efficient food delivery. This is an opportunity for us to bring “inclusion for good food” in public schools where around 1500 students from lower income families deprived from access to healthy meals are studying.
- 5 Lenders
Committed
- 36 months
Loan Period
- 7%
Interest Rate
- BACKGROUND
Loan summary
Sarvaguna Foods & Kitchen is a mass catering company established for connecting local farm food to places where masses of people eat, such as school canteens. Currently, we are serving one private school canteen with 1000 plus students each day. 3 public schools in Pokhara showed interest to collaborate with us. The Government of Nepal is providing minimum support i.e. $0.15 per student per day for mid-day meal in public schools. Nevertheless, most of the schools lack proper cafeteria facilities and linkage to the supply chain to meet the standard of good and nutritious food to the students. In this regard, Sarvaguna plays a vital role in delivering good food from its production kitchen by improving the serving cafeteria at those public schools.
Borrower's mission
Sarvaguna since its inception worked on the circular economy model that connects local farm food to places where masses of people eat food. Sarvaguna has its own processing facility to process local food (grains, spices, vegetables etc.) from a network of our farmers which goes to our own production kitchen facility including a bakery to cook and deliver the healthy and nutritious meal.
Currently, Sarvaguna is serving one school canteen with 1000 plus students each day. The team of 7 entrepreneurs have already invested around USD 70,000 to bring Sarvaguna to operations with these facilities. Sarvaguna would like to expand its products and services in public schools and make healthy nutritious food affordable and inclusive. In the next 5 years, we want to serve more than 90 public and private schools reaching healthy meals to more than 20,000 students each day. While supplying good food to public schools and running the business in break-even with regular income from the government of Nepal, Sarvaguna will earn profit by delivering food to private schools and hospital canteens where families can afford to pay a higher price.
The activities funded by this loan are helping to achieve the above Sustainable Development Goals as defined by the UN.
Intermediary's experience with impact enterprises
For more than 8 years, Red Hat Impact has helped impact enterprises by raising capital and providing other kinds of business and strategy support. We have raised more than $3M from our network of impact investors, and loaned this capital to support 30 enterprises. We use a crowd-lending model to raise loan capital. As of May 2024, we maintain a 98% success rate on loan repayment. We establish close working relationships with all of the impact enterprises we raise debt capital for, and co-manage risks with them during the loan term.
- IMPACT
Impacts and how they are measured
Sarvaguna is working from the ground up partnering with our partners such as THE BAZAAR Cooperative and KHETI agri-tech platform who have more than 10,000 farmers networks in Nepal. To be radically transparent on what we serve and how we serve, we promote nature positive way of production practices. Connecting local farm with the mass catering promotes local consumption which ultimately is good for the local economy. School nutrition contributes to 30% of daily nutritional demand of the children in school. Sarvaguna has been working on holistic improvement of children’s education and well-being. Committing to serve the public school childrens means healthy food is affordable and inclusive for underserved communities which also increases the daily attendance and retention rate of students.
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