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funding gap emerging markets
Sudáfrica

Ilundi Designs

  • Lulalend
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  • With a loan of EUR 32,600 Ilundi Designs is able to move to a bigger studio and purchase a new leather cutting machine.

    €32,600
    Importe
    3.75%
    Interés
    12 meses
    Vencimiento
    6 meses
    Reembolsos
    EUR
    Moneda
    Importe€32,600
    Interés3.75%
    Vencimiento12 meses
    Reembolsos6 meses
    MonedaEUR
      100%
      Completamente financiado en 10 horasen 19 Febrero 2019.

      El proyecto

      The business started as a hobby in her garage and grew into a business due to demand for the leather products. Ilundi Manufacture and sell genuine leather bags and accessories. Having 3 stalls in Cape town: Neighbourgoods market, V&A watershed and a studio in Salt River, Cape Town. Ilundi products are labours of love. They can take up to 14 hours to make by hand. Every hole is hand punched and every stitch hand sewn. No sewing machines are used. They prefer to do things with just their hands, which is the hard way but also the best way. They sew their products with the reliable saddle stitch, which is one of the oldest stitches used in leather work and also use a waxed thread for extra durability and added wear protection. Ilundi hires staff that are unskilled and trains them to be the best. Currently having 4 employees.

      The business grew organically in the beginning, and from year 3 onwards it has grown over 100% each year. The business faced different challenges from year to year. In the beginning, the main challenges were general business administration and juggling multiple roles by herself. Then midway the main challenge was bridging capital. Now, as there growing rapidly, it is project management. With the Lulalend funding of R150k, the company was able to move to a bigger studio, purchase a new leather cutting machine and hire more staff to support the growing business.

      Nombre de la empresaLulalend
      Director generalSofia Stodel
      Fundado2013-01-01
      UbicaciónCape Town
      SectorMayorista / Minorista
      Volumen de negocio€130,310.51
      Empleados4

      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.

       

      SDGs impacted

      With this project you are contributing to the following Sustainable Development Goals:

      SDG 1. No poverty

      SDG 8. Decent work and economic growth

      Read more about the impact you can make through our platform and the SDGs on our impact page.

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