EQ Tech Africa

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Sudáfrica

EQ Tech Africa

Lulalend

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With a loan of EUR 20,400 EQ Tech Africa can continue to work on bigger electricity projects and employ new potentials.

€20,400

Importe

3.75%

Interés

6 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

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

100%

Completamente financiado en 29 minutosen 12 Junio 2018.

El proyecto

EQ Tech Africa is an Engineering company whose directors, senior staff and employees provide services ranging from power generation to project consulting. The company has been operating for 8 years now and has primarily focussed on creating jobs for recent graduates. They also offer accredited traineeships for the previously disadvantaged and are closely involved in the personal development of their staff. EQ Tech Africa is a black women owned organization that has worked from the ground upwards to facilitate hundreds of household with electricity, but they also work on bigger projects, such as network construction on Table Mountain, Cape Town.

EQ Tech Africa now needs a bridging loan so they can continue to work on bigger projects and employ new potentials, who can be trained to become a valuable addition to their operations.

Nombre de la empresa	Lulalend
Director general	Devapala Chetty
Fundado	2010-01-01
Ubicación	Cape Town
Sector	Proyectos de energía sostenible
Volumen de negocio	€1,019,714.47
Empleados	22

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.