We offer unsecured funding from R10,000 to R5,000,000 with flexible terms of 3, 6, 9, or 12 months.
Costs are simple and a function of the amount you receive: you pay 2%–6% (based on risk) for the first third of your term, and a flat 2% for the remaining months.
To qualify, your business must have been trading for at least 1 year, earn a minimum annual turnover of R500,000 (avg. R40,000/month), and have a clear credit record (no judgments).
* Close corporations/ Private Companies must be registered with CIPC
* Sole Traders will need to be VAT registered.
How to apply:
1. Visit lula.co.za: Select Apply Now (new clients) or Log In (existing clients).
2. Fill in your personal details, then your business details, and your financial information.
3. Submit Documentation: Provide your latest 3 months of business bank statements. If these don't cover the past 14 days, please include an up-to-date transaction history to bridge the gap. For a faster review, you can securely link your bank account via Yodlee.
4. Upload Additional Documents (if applicable). Over certain funding thresholds, our Credit department might request additional documentation from you like Management Accounts, Annual Financial Statements or SARS Tax Compliance.
Existing Debt or Business Funding: If you have an active loan or business funding elsewhere, please include your latest statement or a funding settlement letter.
If you have any questions, please don’t hesitate to reach out. We’re here to help!