funding gap emerging markets
South Africa

Blockpower

  • Lulalend
  • Local partner investment
  • + 93 other investors
  • With a loan of EUR 32,600 Beanpower will be able to install more solar energy products in homes in South-Africa.

    €32,600
    Amount
    3.75%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€32,600
    Interest3.75%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 6 hours on 18 February 2019.
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      Summary

      Trading since 2016 this sustainable energy company has been operating under the name of Blockpower. Director Kyle Bohnsack has had a career in solar power since 2007 when he was a manager at Electron Technologies. Since then he has attended a number of courses and obtained certificates relating to renewable energies.

      Kyle has a great love for animals and has volunteered at two animal welfare organisations in 2005 and 2016 to present. Blockpower procures, manufactures and installs solar energy products in homes, with a focus on multiple home estates. There are currently 6 full time employees at Blockpower.

       

      Blockpower found themselves at the onset of a large contract and no money to fund it; as they were eager to start prior to debtor payments being received. Lulalend was able to provide them[1]  with the funds needed to commence the project without wasting valuable time.

      Company nameBlockpower
      CEOKyle Bohnsack
      Founded2016-01-01
      LocationJohannesburg
      SectorSustainable energy projects
      Turnover€162,888.14
      Employees6

      Impact

      More than 40% of SMEs in Africa mention the lack of financing as the major factor limiting their growth. To help overcome this challenge, Lulalend offers access to funding to SMEs in South Africa by delivering working capital within 24 hours through their automated online platform.

      Easy access to working capital increases productivity and job creation, both necessary conditions to reduce poverty. A formal job creates impact on income and enables regularity of wages, allowing a family to plan for the future, save money, and improve access to credit, housing, and children’s education. It can lift unskilled workers out of poverty and allow skilled workers to enter the middle class. Therefore financing SMEs with growth potential is one of the key ingredients for inclusive growth.

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

       

      Related blog articles

      Read here the introduction of Lulalend as a new Lendahand investment opportunity.

      Curious to learn more on how Lulalend uses technology to fight poverty? Read more here.

      • With this investment 2 jobs are created
      • With this investment 6 lives are improved

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      We have already contributed for Blockpower

      Frans Wittenberg
      Elise Schroer
      André Kloosterman
      Suzan van der Meij
      Willem van Wingerden
      + and another
      93
      investors