Lulalend Debt SA

pending

The proposed project is an up to US$20 million (equivalent in South Africa Rand (ZAR)) senior unsecured loan under the MSME Finance Platform - BOP Envelope with a 4-year (2-year grace) tenor to Lula Lend Pty Ltd (“Lulalend” or “the Company”), an existing equity client of IFC. The loan is comprised of a US$10 million A Loan for IFC’s own account and an up to US$10 million B Loan. The proceeds of the IFC loan will support the expansion of the Company’s loan portfolio to Micro, Small and Medium-sized Enterprises (MSMEs), including [25%] for Women-owned MSMEs (WMSMEs), in South Africa (the “Project”).  To meet the MSME Finance Platform’s eligibility criteria for use of proceeds under the BOP Envelope, sub-projects should seek to address financial inclusion gaps with a focus on micro and small enterprises (MSEs), informal enterprises, and low-income households with an average aggregate outstanding loan size not to exceed US$100 thousand.