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What happens in a typical business day?
We pride ourselves as one of a new breed of digital-first fintech companies designed from the ground up to support South African SMEs. We've spent countless hours refining our scoring technology to ensure we can provide quick, easy short-term funding through a convenient online interface. In some cases, we are able to provide approval on a loan application within a single day - a far cry from the three-month wait most traditional lenders demand.
That got us thinking: what happens in a typical business day? What are some of the main business activities that play out in the time it takes us to process and approve a loan application?
Here are some of the amazing things that take place on an average working day:
- 7.8 million people get ready for work at 650,000 SMEs across the country
- 683 new SMEs are established
- 868 new SME jobs are created
- R11 billion in economic value is created
- 15 million minibus commuter trips take place
- 6 million people order coffee from an independent coffee shop
- R101 million is spent on online transactions
- 6.8 billion emails are sent and received
See our infographics for more amazing stats.
About Trevor Gosling
Trevor Gosling is the CEO of Lulalend.