Clothing Africa 2

1er investissement ? 500 € garantis avec le code GOODSTART.

Afrique du Sud

Clothing Africa 2

Lulalend

Investir dans la microfinance

+ 157 autres investisseurs

With a loan of EUR 50,000 Clothing Africa can further expand its business in South Africa and strenghten their partnership with a big hotel chain.

€50 000

Montant

4,25%

Intérêt

12 mois

Maturité

6 mois

Remboursements

EUR

Devise

Montant	€50 000
Intérêt	4,25%
Maturité	12 mois
Remboursements	6 mois
Devise	EUR

100%

Entièrement financé en 18 heures sur 4 Septembre 2020.

Le projet

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 Clothing Africa.

Clothing Africa is a supplier and distributor of uniform and corporate clothing specializing in the hospitality industry. They have successfully established partnerships with some of the biggest hotels in South Africa. The business exists of 18 full time employees who are all closely involved in the process. From design board to cutting table, everything is produced in house. Most of their employees are internally trained. The company focuses on manufacturing in a sustainable manner, using only high quality and environmental friendly resources in their production process.

Local partner Lulalend provides this loan with a maturity of 12 months.

Nom de l’entreprise	Lulalend
PDG	Mohammed Saloojee
Création	2014-01-01
Lieu	Johannesburg
Secteur	Fabrication / Production
Chiffre d'affaires	€407 885
Employés	18

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.