funding gap emerging markets
South Africa

Harris Sawing Equipment 2

  • Lulalend
  • Local partner investment
  • + 147 other investors
  • With a loan of EUR 61,000 Harris Sawing Equipment will be able to further improve their machinery and hire more people.

    €61,000
    Amount
    3.75%
    Interest
    12 months
    Maturity
    6 months
    Repayments
    EUR
    Currency
    Amount€61,000
    Interest3.75%
    Maturity12 months
    Repayments6 months
    CurrencyEUR
      100%
      Fully funded in 2 days on 24 October 2019.
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      Based on all Lendahand historical investments
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      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. 

      Company nameHarris Sawing Equipment 2
      CEOMichael Harris
      Founded1996-01-01
      LocationJohannesburg
      SectorManufacturing / Production
      Turnover€977,328
      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.

       

      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 2 jobs are created
      • With this investment 10 people are reached

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      We have already contributed for Harris Sawing Equipment 2

      Ron van Eijk
      Erik Hamelink
      Olaf Janssen
      Gert Mosterd
      Coen van Harmelen
      + and another
      147
      investors