Institute Of Management Accounting

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Sudáfrica

Institute Of Management Accounting

Lulalend

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With a loan of EUR 27,200 IMAS can buy second hand cars to go visit schools and promote their educational services.

€27,200

Importe

3.75%

Interés

6 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€27,200
Interés	3.75%
Vencimiento	6 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 4 horasen 7 Junio 2018.

El proyecto

After working as a Financial Manager for many years, Mr. Thela decided to start his own educational institute for aspiring accountants. The Institute Of Management Accounting And Strategy (IMAS) offers tertiary education, focussing on young adults that often work during the day and attend classes in the evenings or weekends. Their mission is to increase job perspectives for young South African adults. The business consists of 10 full time, and around 15 part time employees.

IMAS aspires to be a leading accountancy learning institution in South Africa by 2019 and therefore request funding to finance their new marketing campaign. The money will enable them to buy second hand cars to go visit schools and promote their educational services. They are hoping to soon hire a new lecturer to deal with the increased demand.

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

Nombre de la empresa	Lulalend
Director general	Nkosinathi Thela
Fundado	2013-01-01
Ubicación	Marshalltown
Sector	Servicios
Volumen de negocio	€973,280.76
Empleados	25

Impacto

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.