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This prospectus seeks to raise £5,000 to create a wood products workshop for the Orthodox parish of St Procopius in Vvumba, Uganda, as a loan to be repaid. The parish is growing and runs a free school for children but because of poverty and lack of state aid in the area, there is no income for the teachers or parish workers. The parish priest, Fr Joseph is an experienced carpenter, and he would like to purchase the tools to create a wood products workshop to create an income for the parish as well as teach the trade to the young people.
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The £5,000 will be invested in power tools and incomes for two people, plus timber to sell 200 timber items like desks, doors, window frames and beds, per year. This is expected to create an income of £8,400 each year, as a conservative estimate. The income derived will pay off the loan plus 5%APR, break even in year 2 and make a product of £540 by Year 3. Thereafter, the workshops will continue to be self-sustaining, and the returned loan can be reutilised into another project. The detailed cashflow estimates are provided below.
The loan will be underwritten by the St Ragener of Northampton charitable trust which was established to promote education and Orthodox Christian parishes and which funds the parish of St Anne, Northampton. The funds will be collected and disbursed by St Ragener’s to Uganda. The business plan has been written by Fr Timothy of St Anne’s and Fr Joseph of St Procopius. Fr Timothy is an expert in business planning. The first £1,000 will start the initiative.
The loan will be underwritten by the St Ragener of Northampton charitable trust which was established to promote education and Orthodox Christian parishes and which funds the parish of St Anne, Northampton. The funds will be collected and disbursed by St Ragener’s to Uganda. The business plan has been written by Fr Timothy of St Anne’s and Fr Joseph of St Procopius. Fr Timothy is an expert in business planning. The first £1,000 will start the initiative.