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P&L#Available for dividends if equity >Tax Gross Margin InvestmentInterest DepreciationCash Flow for debt servicingDebt servicing Net cash flowDiscounted net cash flow$Accumulated discounted net cash flowNPVIRRNet Present Value / IRR (5 yrs) Net Present Value / IRR (10 yrs)EquityFinanceNet income (=Profit after tax)Profit after taxmarginvalueyesADDebtInvestment flows Intitial risk addtl. equityOperational flowsRevenues cash riskProduction costvalue of equityBE Net worthManagement contractC Other costProfit before tax managementadd depreciationIcontract valueIIloan repaymentSupplies new assetsContribution to equity?$Financial Risk financial institutionGets management contractEquity donation in cash"add interest + principal repaymentInitial Financial Riskdeduct loss of collateralTotal cash at riskIIIFinancial InstitutionCol. %coverageRenovated assets as collateralNew assets as collateralLoan DEPRECIATIONRenovated assetsLOAN REPAYMENTOutstanding debt COLLATERALValue renovated assetsValue new assetsOperational cash flowCash flow before dividends*Equity, after dividends and loan repaymentTable 3. Depreciation and LoansInvestment in assetsPBPyearsTable 4. Cash Flow New assetsVariable costsInvestments madeEquity receivedLoans receivedProduction hall, 3500m2Drying machines (cap. 800t)Cool cells 8 * 250t capacityCrates + packing material Fork lifts, 2Long term (IFC)Short term (SAS)Ren. existing assets, utilitiesMonths in storage PRODUCTIONSALES Initial Debt in cash %Collateral valueWorking capitalManagement contract (3 yr)CostProvides Production hall New investors Initial riskTable 6. IRR and NPVcontrib.cashProvides Drying machinesDrying cost per tonStorage cost per ton per monthFixed cost (fork lifts, 5 FTE)Debt Service Coverage RatioTable 7. Debt Service RatioLoan installmentsStorage income Drying incomeadditional equity SAS additional equity local investordividends paid to SAS dividends paid to local investorFinancial Risk of SAS Financial Risk of Local Investor dividends#Vegetables stored per year (in ton)"Vegetables dried per year (in ton)Value as collateralLoss of collateralVegetables out (minus losses)Sales commission, 3 productsPrincipal repaymentTotal 1,000,000 GNFInvstiseurs existentsCollateral AnalysisCB4 SAMPLE CO."Table 1. 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