New Earth Recycling 2

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Sudáfrica

New Earth Recycling 2

Lulalend

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With a loan of EUR 30,900 Noel and his team will be able to start a new recycling project in collaboration with a local gym.

€30,900

Importe

3.75%

Interés

12 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€30,900
Interés	3.75%
Vencimiento	12 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 2 horasen 14 Marzo 2019.

El proyecto

Company description

New Earth Recycling offers professional, sustainable waste management solutions, providing waste collection of recyclables from malls, companies and households in the Cape Town and the Winelands areas. They convert used materials into new products and specialize in Polystyrene and Home Appliances. It all started as a social initiative to provide employment for the many homeless individuals in South Africa. Noel saw great potential in combining this social issue with the demand for a more environmental friendly economy. Approximately 6000 tons of waste is dumped in Cape Town every day, rapidly filling up the already overloaded landfill space. New Earth Recycling offers job opportunities for previously disadvantaged local citizens and train them to improve their future job perspectives.

Funding purpose

With a loan New Earth Recycling can start a new project in collaboration with a local gym. Where they assure that no resources are being wasted.

Nombre de la empresa	Lulalend
Director general	Noel Ehrenreich
Fundado	2013-01-01
Ubicación	Cape Town
Sector	Producción manufacturera
Volumen de negocio	€101,971.44
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.