Southern African Institute of Learning
With EUR 34,000 Vimala will be able to scale up their training business by introducing an e-learning branch for SMEs.
€34,000
3.75%
6 months
6 months
EUR
CurrencyAmount | €34,000 |
Interest | 3.75% |
Maturity | 6 months |
Repayments | 6 months |
Currency | EUR |
The project
The South African Institute of Learning (SAIL) is a wholly black-women-owned Education and Training institute that provides accredited courses across different sectors and industries.
Director Vimala Ariyan spent 13 years as a school teacher before she joined the South African Qualifications Authority (SAQA). SAQA provides learning opportunities to previously disadvantaged South Africans who were denied formal education and training. She then decided to start her own educational service that focuses on SME development training. Over and above the work SAIL does, it aims to invest in the community by offering a few free seats to unemployed individuals who cannot afford training. They give training on Human Rights and are involved in child development as they are planning to open crèches to empower young business women.
SAIL requested funding because they want to scale up their business by introducing an e-learning branch to enable learners to get accredited learning at their own pace and convenience. This will create jobs for approximately 4 new employees. Their main goal is to generate job opportunities to black South African women, since they are largely under-represented in the South African workforce.
Company name | Lulalend |
CEO | Vimala Ariyan |
Founded | 2005-01-01 |
Location | Johannesburg |
Sector | Services |
Turnover | €611,828.68 |
Employees | 19 |
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 4 jobs are created
- With this investment 20 lives are improved