LEO Garments 2

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Sudáfrica

LEO Garments 2

Lulalend

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With a loan of EUR 75,000 LEO Garments will be able to further increase the manufacturing of overwear and related products for safety, security, military, uniform and promotional industries.

€75,000

Importe

4.25%

Interés

12 meses

Vencimiento

6 meses

Reembolsos

EUR

Moneda

Importe	€75,000
Interés	4.25%
Vencimiento	12 meses
Reembolsos	6 meses
Moneda	EUR

100%

Completamente financiado en 3 horasen 7 Septiembre 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 LEO Garments.

Leo Garments has been manufacturing protective overwear and related products for safety, security, military, uniform and promotional industries since 1983. The experience gained since 1983 has equipped them with the technical knowledge to manufacture protective overwear and equipment to the highest standard through consistent innovation and investment in technology, machinery, process and people.

Leo Garments is a fully black empowered company and engages in employee development programmes and also contribute to worker academic improvement programmes by way of study grants. Leo Garments is always mindful of its corporate social responsibility and contributes generously to various charities in both time and financially.

Nombre de la empresa	Lulalend
Director general	Ravesh Rama
Fundado	1983-01-01
Ubicación	Durban
Sector	Producción manufacturera
Volumen de negocio	€1,141,531
Empleados	140

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.