Lilo Chemical Solutions (Pty) Ltd
| Business Location: | Township |
| Province | Eastern Cape |
| Branch: | Nelson Mandela Bay |
| Business Start Date: | |
| Busniess Type: | Company |
Business Dynamics and Challenges
Business Activities:
The company has been operating since 2020 as a vehicle repair company dealing with services such as Sales, maintenance, repair of motor vehicles, motorcycles; retail trade in automotive fuel but specializing in fleet vehicles. Since its inception, Lilo Chemicals Solutions t/a DW Auto Spares has been self-funded by the director Mr. Siphiwe Ngcipe who wanted to ensure the viability of the company. Lilo Chemicals Solutions t/a DW Auto Spares aims to provide a one-stop-shop vehicle solution which will include diesel/petrol mechanic, auto electrical (auto Repairs), Auto Parts sales (Spurs), panel beating, all services provided at one location which will be divided into departments.
Challenges/Needs:
When Sedfa conducted a diagnostic assessment report, the following challenges were identified:
The company lacked financial strength to expand.
Intervention Insights and Results
Intervention Details:
To address the challenges above, Sedfa assisted Lilo Chemicals Solutions t/a DW Auto Spares with Facilitation of access to finance-Asset Assist Grant Funding.
Outcome Details:
Sedfa intervention achieved the following outcomes:
The turnover increased from R1 000 000 to R3 147 807.00 (68%)
The company employees stayed the same, from 5 to 5 employees.
The company received grant funding to the value of R116 334.00 for acquiring new equipment.
As a result of the newly acquired equipment - Lilo Chemical Solutions t/a DW Auto Spares has successfully onboarded and is now a Merchant on the RT46 Government fleet contract managed by Wesbank.
The turnover increased from R1 000 000 to R3 147 807.00 (68%)
The company employees stayed the same, from 5 to 5 employees.
The company received grant funding to the value of R116 334.00 for acquiring new equipment.
As a result of the newly acquired equipment - Lilo Chemical Solutions t/a DW Auto Spares has successfully onboarded and is now a Merchant on the RT46 Government fleet contract managed by Wesbank.
Client Feedback
Client Comments:
“I would like to express my sincerest gratitude for the assistance in the form of Asset Assist Programme I have received from Sedfa. It’s came at a very crucial time and has brought a so much needed relief and help for the business. Through the funding, I am also able to expand my offerings and offer employment to more staff thereby contributing positively to high unemployment crisis our country faces.”
