Odyssey is the technology partner for the $84M EARF Initiative by SIMA Funds

Odyssey is the technology partner for the $84M EARF Initiative by SIMA Funds

We are very proud to be the SIMA Funds’ technology partner for the $84M Energy Access Relief Fund (EARF) initiative. EARF is providing much-needed financing relief for energy access companies experiencing disruptions caused by COVID-19.

The Social Investment Managers & Advisors (SIMA Funds) has launched the $84M Energy Access Relief Fund (EARF), which aims to protect energy access in vulnerable communities of sub-Saharan Africa and Asia Pacific.

SIMA, which is the Fund Manager, will leverage its extensive investing experience in some of the most underdeveloped countries in the world to provide EARF relief loans to energy access companies affected by COVID-19.

SIMA has also innovated and uniquely designed an application process that will expedite the underwriting and provide high quality credit to about 90-100 companies.

Energy Access Relief Fund

The Energy Access Relief Fund (EARF) was 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 of the fund – SIMA has started providing loans to small and medium-sized borrowers, supported by several key donors.

With hundreds of applications received so far, SIMA has innovated the underwriting process of the EARF, such that the loans can be provided to the borrowers in the shortest possible time.

The 2 Phases of the Application Process

The application process is designed to have two phases:

1. Phase 1: Applicants are evaluated against the initial eligibility criteria.
2. Phase 2: Companies qualified in Phase I will be invited to submit more detailed company related information on the Odyssey Platform.

You can learn more and apply on this page.