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funding gap emerging markets
Afrique du Sud

Ilundi Designs

  • Lulalend
  • Investir dans la microfinance
  • + 97 autres investisseurs
  • 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
    Montant
    3,75%
    Intérêt
    12 mois
    Maturité
    6 mois
    Remboursements
    EUR
    Devise
    Montant€32 600
    Intérêt3,75%
    Maturité12 mois
    Remboursements6 mois
    DeviseEUR
      100%
      Entièrement financé en 10 heures sur 19 Février 2019.

      Le projet

      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.

      Nom de l’entrepriseLulalend
      PDGSofia Stodel
      Création2013-01-01
      LieuCape Town
      SecteurCommerce de gros / Commerce de détail
      Chiffre d'affaires€130 310,51
      Employés4

      Impact

      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.

      • Grâce à cet investissement 1 emplois sont créés
      • Avec cet investissement 4 sont améliorées

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      Nous avons déjà contribué à Ilundi Designs

      Edwin Tofield
      Yvonne van der Laan
      Elke Krekels
      Willem Huiting
      Marc Sierink
      + et autre
      97
      investisseurs