Loan Sought by Producer of Electricity and Time Saving Water Heaters

Seawave aims to provide the market with new generation quality products that save the consumer time and money while saving energy and water.

The products in our portfolio are innovations that use the latest technology to guarantee electricity, time and ultimately, water saving. Our products use magnetic induction to heat the water.
With the water heaters this is achieved by magnetic induction resistance that heats the whole storage tank. This results in the water being heated quicker than a conventional heater.
With the induction cookers, the concept is the same but the magnetic resistance is used to heat the pot and then the product in the pot. This again results in the product in the pot heating (cooking) a lot quicker.
Both of these products will save time and ultimately money.
There is a potential market of 200 000 – 400 000 units per annum.
Realistically a market share of 25% could be attainable.
The largest task will be changing the mindset of the consumer.
There will be a need to educate the consumer on why these products save time, energy and water.

Marketing is been based on securing agents for the different areas in SA and countries in Africa.
These agents will then be assisted in advertising in the print media, on the internet, through displays on shows and at shopping centres and mail shots.
We will apply to be included on Master Builders Association database.
We are already trading and have just been listed with two major retail hardware chain stores in S.A.

The ideal capital requirement is USD500 000.00
The minimum capital requirement is USD 250 000.00
The loan is based on a 36 month repayment term with an interest rate of 10%.
The products are all NRCS certified and ESKOM tested .

The most important decision on the success of this business is the funding to allow for continuity of stock holding and marketing.
If this is not made available then there is a very likely chance that the opportunity will be made available to someone else.
The long term issues will be for funding availability to expand the products in our range.
If this is not available then the business will stagnate and not grow with new products coming out on the market.