Clothing Africa

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Sudáfrica

Clothing Africa

Lulalend

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With a loan of EUR 20,400 Cloting Africa can expand its business and realize a big partnership with the Maslow Hotel.

€20,400

Importe

3.75%

Interés

12 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€20,400
Interés	3.75%
Vencimiento	12 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 2 horasen 10 Junio 2018.

El proyecto

Clothing Africa is a supplier and distributor of uniform and corporate clothing specializing in the hospitality industry. They have successfully established partnerships with some of the biggest hotels in South Africa. The business exists of 18 full time employees who are all closely involved in the process. From design board to cutting table, everything is produced in house. Most of their employees are internally trained. The company focuses on manufacturing in a sustainable manner, using only high quality and environmental friendly resources in their production process.

After a quiet period in January and February, Africa Clothing is now busy preparing for a big partnership project with The Maslow Hotel for which they need funding to increase capacity. Hopefully this project will lead to more future collaborations.

Local partner Lulalend provides this loan with a maturity of 12 months.

Nombre de la empresa	Lulalend
Director general	Mohammed Saloojee
Fundado	2014-01-01
Ubicación	Johannesburg
Sector	Producción manufacturera
Volumen de negocio	€407,885.79
Empleados	18

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.