Harris Sawing Equipment

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Sudáfrica

Harris Sawing Equipment

Lulalend

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With a loan of EUR 32,600 Harris Sawing Equipment will be able to buy a new furnace and a new polishing machine.

€32,600

Importe

3.75%

Interés

12 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€32,600
Interés	3.75%
Vencimiento	12 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 7 horasen 18 Febrero 2019.

El proyecto

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. Lulalend was able to assist with a loan which enabled them to acquire the machinery while performing day to day jobs.

Nombre de la empresa	Lulalend
Director general	Michael Harris
Fundado	1996-01-01
Ubicación	Johannesburg
Sector	Producción manufacturera
Volumen de negocio	€977,328.84
Empleados	15

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.