funding gap emerging markets
South Africa

Turbo Properties Service Center

  • Lulalend
  • Local partner investment
  • + 131 other investors
  • With a loan of EUR 60,750 Turbo Properties Service Center will be able to grow their business and open an extra branch.

    €60,750
    Amount
    3.75%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€60,750
    Interest3.75%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 2 hours on 30 September 2019.
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      Average investment
      Based on all Lendahand historical investments
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      Project will be fully funded

      Summary

      Turbo Prop Service Centre, is a South African Civil Aviation Authority (SACAA) Approved Aircraft Maintenance Organization (AMO 076) providing a professional, personalized and value-added service to the Aviation Industry since 1992.

      With their facility ideally located at Lanseria International Airport, they are able to cater for various aircraft related requirements. Whether it be maintenance, repairs, parts support, hangarage or just simply advice. 

      All maintenance work is overseen by their highly experienced and established team of Senior Managers, with well over 100 years combined experience, with an emphasis on quality, reliability and value.

      They pride themselves on working with a team of individuals who are passionate about the aviation industry. This passion is reflected in the high quality of workmanship that is evident on a daily basis.

      Turbo Properties found itself seeking expansion and wanting to open up more branches. With an advance from Lulalend they were able to do just that and grow their business and their opportunities through funding.

      Company nameTurbo Properties Service Center
      CEOCaryn Scrimgeour
      Founded1992-01-01
      LocationGauteng
      SectorServices
      Turnover€971,611
      Employees29

      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.

       

      Related blog articles

      Read here the introduction of Lulalend as a new Lendahand investment opportunity.

      Curious to learn more on how Lulalend uses technology to fight poverty? Read more here.

      • With this investment 5 jobs are created
      • With this investment 25 people are reached

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      We have already contributed for Turbo Properties Service Center

      Jacques van den Bosch
      Gert Baas
      Gert Mosterd
      Frans Wittenberg
      Marc Sierink
      + and another
      131
      investors