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funding gap emerging markets
South Africa

Harris Sawing Equipment

  • Lulalend
  • Invest in a Financial Institution
  • + 84 other investors
  • With a loan of EUR 32,600 Harris Sawing Equipment will be able to buy a new furnace and a new polishing machine.

    €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 7 hours on 18 February 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. Lulalend was able to assist with a loan which enabled them to acquire the machinery while performing day to day jobs.

      Company nameHarris Sawing Equipment
      CEOMichael Harris
      Founded1996-01-01
      LocationJohannesburg
      SectorManufacturing / Production
      Turnover€977,328.84
      Employees15

      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.

      • With this investment 3 jobs are created
      • With this investment 15 lives are improved

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      We have already contributed to Harris Sawing Equipment

      Suzan van der Meij
      Eric Coomans
      Casper Roos
      Marc Sierink
      Menne Glas
      + and another
      84
      investors