New Southern Energy

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Sudáfrica

New Southern Energy

Lulalend

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With a loan of EUR 72,000 local partner Lulalend will be able to provide grow capital to New Southern Energy, so they can realise several sustainable energy projects in South Africa.

€72,000

Importe

4.25%

Interés

12 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€72,000
Interés	4.25%
Vencimiento	12 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 1 día.en 29 Abril 2020.

El proyecto

Warning

In the coming period there are different conditions for this partner. More information can be found here.

The interest rate has been temporarily increased by 0,5 percentage point to accommodate the growing uncertainty associated with COVID-19.
In addition, this investee is allowed - provided they continue to comply with the applicable covenants - to refinance future repayments to Lendahand investors with the funds raised from this project.
Repayments occur after 12 months, not after 6 months (grace period).

Lulalend is a South African SME lender. The company is built on the belief in the power of small businesses and strives to empower businesses throughout South Africa. Lulalend's loans are characterised by speed, convenience, and easy application. This is achieved through the company's automated online platform.

Information document issuing entity (NL)

Information note issuing entity (BE)

Trevor Gosling is the company's founder and has been its CEO since inception in 2014. Trevor is a chartered accountant with 7 years of experience in investment banking as well as 3 years experience in structured finance. Before starting Lulalend, Trevor found and succesfully exited an e-commerce venture.

With this loan Lulalend will be able to provide working capital to New Southern Energy.

New Southern Energy (NSE) is a leading South African-based, full-service renewable energy provider for distributed energy projects throughout Africa. They offer a complete turnkey service with the assessment, design, supply, financing, implementation and ongoing maintenance of renewable energy projects in the public and private sector, providing impartial energy advice.

NSE believes renewable energy is a key resource in providing power to the African continent and they aim to make a meaningful impact to improve the lives of millions of people across Africa. Their vision is to solve some of the problems faced by the African continent through accelerating the adoption of renewable energy through a distributed energy approach. Their team is committed in every aspect of achieving this.

Nombre de la empresa	Lulalend
Director general	David Masureik
Fundado	2010-01-01
Ubicación	Cape Town
Sector	Proyectos de energía sostenible
Volumen de negocio	€3,261,517
Empleados	40

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.