Solar for Smith’s Supermarket

Offering Terms

Investment Goal: $1,070,000

Minimum Investment: $10

10% Annual Interest

5 Year Term, Semi-Annual Repayments
Available Until: December 4th, 2024 (might close early)

A Local Business Going Green with Solar Energy

Small businesses are the heart of America, and in the close-knit town of Altha, Florida, Smith’s Supermarket is a cornerstone of the community. For years, Smith’s Supermarket has been more than just a place to buy groceries—it’s a hub where neighbors meet, and customers are greeted with smiles. Known for its friendly staff, commitment to the community, and affordable prices, Smith’s Supermarket plays a vital role in everyday life in Altha.

Now, Bill Smith, the owner, is taking a significant step toward sustainability. Thanks to a grant from the U.S. Department of Agriculture’s Rural Energy for America Program (REAP), Smith’s Supermarket is going solar. The project will install 492 American-made solar panels and advanced battery systems, designed to generate 253,851 kWh of clean energy annually. This switch to solar energy not only reduces greenhouse gas emissions but also strengthens local energy independence—an important move for both the environment and the economy.

With this initiative, Smith’s Supermarket is leading the way for other small businesses in rural communities to take on sustainable energy solutions.

Meet the Team

Smith’s Supermarket’s journey toward clean energy is powered by Ovanova, a general contractor specializing in solar and storage solutions.

With a presence in 22 states and partnerships with over 60 utilities, Ovanova is passionate about serving rural communities and providing long-term value through renewable energy systems. Their expertise and commitment to excellence have made them a trusted partner in delivering high-quality solar solutions to property owners across the country.

For this project, Ovanova is standing by Bill Smith, ensuring that Smith’s Supermarket makes the smooth transition to renewable energy. Their dedication to detail and efficiency guarantees that this solar initiative will be a success, benefiting both the store and the wider Altha community.

Financial Information

Investors will receive a 10% annual interest rate, accrued daily. Principal and interest will be paid in a single installment once a key milestone is achieved.

This milestone is tied to the REAP grant, which will be released after Smith’s Supermarket provides one month of electricity production data from its solar panels.

The project is expected to reach this milestone within the first year, though the final deadline is set for December 4, 2026. Funds raised through this initiative will cover 50% of the project’s total cost.

Example

Below you will find 2 examples of Loan Amortization making the following assumptions:

Hypothetical initial investment amount of $10,000.

Scenario 1: Payment at Maturity Date (December 4th, 2026)

Principal: $10,000
Interest: $2,000 (10% annually, so 20% in total)
Total: $12,000

Scenario 2: Payment Within 1 Year of Issuance Date

Principal: $10,000
Interest: $1,000 (10% annually)
Total: $11,000

Join the Movement

Smith’s Supermarket is proving that small businesses can make a big impact when it comes to environmental stewardship. By investing in solar power, this community pillar is reducing its carbon footprint and ensuring energy savings that will benefit the business and its customers for years to come.

Join us in supporting this forward-thinking project, and let’s build a sustainable future together

Financial Disclosure

Content is based entirely upon Ovanova’s representations. Prior results do not guarantee future success. It’s important to note that investing in renewable energy projects through crowdfunding carries financial risks and may not be suitable for everyone. As with any investment, there is a possibility that you may lose some or all of the money you invest. It’s important to note that this article should not be considered investment advice. The information provided is for informational purposes only and is not intended to recommend or endorse any particular investment strategy. The information provided in this article is for informational purposes only and should not be considered financial or investment advice. It’s crucial to do your own research and consult with a financial advisor or professional before making any investment decisions, especially when investing in renewable energy projects through crowdfunding, which carries financial risks and may not be suitable for everyone.

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