Zeus Tyres

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Sudáfrica

Zeus Tyres

Lulalend

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With a loan of EUR 34,000 Angelo can purchase new materials and equipment in order to scale up his business.

€34,000

Importe

3.75%

Interés

6 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€34,000
Interés	3.75%
Vencimiento	6 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 3 horasen 10 Junio 2018.

El proyecto

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 All outdated equipment has been replaced by more sustainable materials and so far, the business is doing very well.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 A lot of the materials were outdated and new equipment was necessary to meet the demand for more sustainable materials.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.

Nombre de la empresa	Lulalend
Director general	Angelo Cox
Fundado	2017-01-01
Ubicación	Tzaneen
Sector	Mayorista / Minorista
Volumen de negocio	€1,155,676.41
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.