Harris Sawing Equipment 2

South Africa

Harris Sawing Equipment 2

Lulalend

Local partner investment

+ 147 other investors

With a loan of EUR 61,000 Harris Sawing Equipment will be able to further improve their machinery and hire more people.

€61,000

Amount

3.75%

Interest

12 months

Maturity

6 months

Repayments

EUR

Currency

Amount	€61,000
Interest	3.75%
Maturity	12 months
Repayments	6 months
Currency	EUR

100%

Fully funded in 2 days on 24 October 2019.

Summary

Harris Sawing equipment has origins that date back to 1934 when the company started out as a humble saw repair shop. Since then it has evolved into an internationally recognised and exported saw manufacturer. Their product offerings include hot saws, food grade saws, and many more. The current director, Michael Harris joined the company in 2002 after completing his mechanical engineering degree at the University of Johannesburg. The company currently employs 15 full-time employees.

Harris sawing equipment found themselves in need of some critical machinery such as a new furnace and a new polishing machine. With all their reserves being devoted to buying raw materials they did not have the capacity to obtain these assets.

Company name	Harris Sawing Equipment 2
CEO	Michael Harris
Founded	1996-01-01
Location	Johannesburg
Sector	Manufacturing / Production
Turnover	€977,328
Employees	15

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.

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We have already contributed for Harris Sawing Equipment 2

Poul Brands

Lot Hagenaars

Coen van Harmelen

Boudewijn Gailliaert

Jan-Dik Boot

+ and another

147

investors