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funding gap emerging markets
South Africa

Zeus Tyres

  • Lulalend
  • Invest in a Financial Institution
  • + 82 other investors
  • With a loan of EUR 34,000 Angelo can purchase new materials and equipment in order to scale up his business.

    €34,000
    Amount
    3.75%
    Interest
    6 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€34,000
    Interest3.75%
    Maturity6 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 3 hours on 10 June 2018.

      Summary

      Zeus Tyres is a professional tyre retailer and provider of all associated services including alignment and repairs. Half a year ago, Angelo Cox decided to start a new career and revitalize an old, existing tyre shop. All outdated equipment has been replaced by more sustainable materials and so far, the business is doing very well. The team has expanded from 18 to 25 employees over the past 6 months and the company has started to sponsor local communities and students who cannot afford to go to school or sports activities.  

      The purpose of this loan is revitalization of the business. A lot of the materials were outdated and new equipment was necessary to meet the demand for more sustainable materials. Mr Cox sees a bright future for the business and has hired 7 new employees since he started operating. He is hoping to scale up and reach a broader market.

      Local partner Lulaloan provides this loan with a maturity of 6 months. 

      Company nameZeus Tyres
      CEOAngelo Cox
      Founded2017-01-01
      LocationTzaneen
      SectorWholesale / Retail
      Turnover€1,155,676.41
      Employees25

      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 5 jobs are created
      • With this investment 25 lives are improved

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      We have already contributed to Zeus Tyres

      Menne Glas
      Gert Mosterd
      Marco Mansveld
      Casper Roos
      Marcel Linssen
      + and another
      82
      investors