Here are the criteria your business needs to meet for us to assist you with funding. If you qualify, please click the link below to apply.
Lula offers unsecured business funding ranging from R10,000 to R5,000,000, with terms of 3, 6, 9, or 12 months. The funding cost is between 2% to 6% for the first third of the period (depending on risk) and 2% for the remaining months. The minimum requirements are:
- Your business must be actively trading for at least 1 year.
- Your business should have a minimum annual turnover of R500,000.
- Your business should have a minimum monthly turnover of R40,000.
- If you are a Sole Trader, your business must be VAT registered or affiliated with one of our partners, such as Takealot, Yoco, or Nightsbridge.
Unfortunately, we cannot offer funding if there are any adverse listings or judgments against your business or its directors. The application process is completely online for your convenience:
- New clients: Visit lula.co.za and click on the Apply Now button.
- Existing clients: Go to lula.co.za and click on Log In. Fill in your personal details, then your business details, and your financial information, including your latest 3 months' transactional business bank statements.
The quickest option is to link your bank account through our service provider Yodlee. This allows you to provide us with your bank or accounting transaction information in a read-only format, making it easier for us to assess. If you have any questions, please don’t hesitate to reach out. We’re here to help!