South AfricaNew Earth Recycling 2
With a loan of EUR 30,900 Noel and his team will be able to start a new recycling project in collaboration with a local gym.
€30,900
3.75%
12 months
6 months
EUR
Currency| Amount | €30,900 |
| Interest | 3.75% |
| Maturity | 12 months |
| Repayments | 6 months |
| Currency | EUR |
The project
Company description
New Earth Recycling offers professional, sustainable waste management solutions, providing waste collection of recyclables from malls, companies and households in the Cape Town and the Winelands areas. They convert used materials into new products and specialize in Polystyrene and Home Appliances. It all started as a social initiative to provide employment for the many homeless individuals in South Africa. Noel saw great potential in combining this social issue with the demand for a more environmental friendly economy. Approximately 6000 tons of waste is dumped in Cape Town every day, rapidly filling up the already overloaded landfill space. New Earth Recycling offers job opportunities for previously disadvantaged local citizens and train them to improve their future job perspectives.
Funding purpose
With a loan New Earth Recycling can start a new project in collaboration with a local gym. Where they assure that no resources are being wasted.
| Company name | Lulalend |
| CEO | Noel Ehrenreich |
| Founded | 2013-01-01 |
| Location | Cape Town |
| Sector | Manufacturing / Production |
| Turnover | €101,971.44 |
| 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.
- With this investment 2 jobs are created
- With this investment 10 lives are improved
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We have already contributed to New Earth Recycling 2
André KloostermanJan de WitMarc SierinkErik HamelinkPiet van der Kooi