Data from the recent SME Landscape report demonstrates the significant contribution SMEs make to our national economy. According to the report, 29% of employment in South Africa is generated by local SMEs. And when you bear in mind the potential for further job creation as small businesses mature and grow, the overwhelmingly positive impact they have in a country where unemployment rates continue to climb becomes clear.
While there’s no denying small businesses are vital to our economy, unfortunately many struggle to survive those first tricky years. Even when they are up and running most SMEs struggle to grow as quickly as they would like. This is often due to difficulty accessing sufficient working capital to take advantage of the opportunities that come their way.
Small businesses could, and should, be our nation’s economic success story. For this to become reality more support for SMEs in critical areas, such as access to funding, is required.
Lulalend helps make business growth possible
Lulalend is very aware that this lack of real time access to funding is a critical issue that needs a solution. Lulalend was founded with the goal of making it easy and fast for SMEs to access the working capital they need to grow. Their unique online solution allows SMEs to secure short term funding of up to R1m within 24 hours. They believe that enabling business owners like yourself to quickly access funds will not only help you to achieve your goals, but also help drive the overall economic growth of the nation.
The Lulalend experience is designed to cut through the insurmountable paperwork traditional lenders require, while also eradicating the long queues and weeks (sometimes months) of waiting for an answer only to be turned down by the banks.
Lulalend have developed an 8-minute online application process that only requires three months bank statements to be provided. Once submitted, there is a turnaround time of one business day for a decision, with funding made available within 24 hours. Being specifically focused on serving SMEs, approval rates are also significantly higher than the traditional banks.
The ease and speed at which small business owners can now access finance solves one of the biggest challenges for SMEs, and is what makes Lulalend different to banks and other traditional lenders.
Lulalend has provided access to critical funding to thousands of local businesses across the country, covering all sectors of the economy. They have been recognised by FNB as one of the most innovative financial companies in South Africa and partner with the likes of the NSBC (National Small Business Chamber).
To find out more about how Lulalend can help you, apply here in eight short minutes and receive your FREE quote, or contact them on firstname.lastname@example.org or call 087 943 2381. To apply, a business must have been trading for at least 1 year and have a minimum annual turnover of R500,000.
For more information visit: www.lulalend.co.za.