Up to November 2008, EFA had invested $368,633 in 60 businesses, with $138,805 repaid.

We estimate that EFA customers pay 22% on average, before our transaction costs and overheads. This is based on the conservative assumptions that all overdue amounts are written off, all investments more than 2 months overdue make no further payments and are written off in 12 months time, and 80% of initial equipment value is recovered.


Marginal transaction costs are estimated at $660 over the course of an investment, based on a basic 3-day diligence and a 'triage' system of customer visits. This results in a marginal IRR contribution of 10% at current average investment size before fixed overheads, and 15% at the target average investment size of $30,000 in our double bottom line funds.

3% of invested capital has defaulted to date and 90% of this has been recovered through equipment repossession, resulting in a net write off rate of less than 1%. Around 10% of invested capital is in investments more than 2 months overdue, although many of these are still repaying regularly.