Lulalend

Lulalend, the country's first web-based business lender, was established in 2014 by Trevor Gosling and Neil Welman.

The foundation of Lulalend is its conviction in the strength of small businesses and its commitment to fostering their expansion.

Lulalend provides company financing that’s quick, simple, and keeps up with South African enterprises.

Businesses that have been in operation for a minimum of a year can use Lulalend to avoid the paperwork, lengthy lines, and extended wait times often involved with trying to acquire business financing in the SA market.

Applications are therefore submitted online and quickly. Lulalend's cutting-edge credit rating model is used to evaluate each firm, enabling them to provide cash more quickly.

Request financing from Lulalend if you want to raise capital for your company. Lulalend offers a trouble-free application process, which means you can opt to repay your credit over six or twelve months, whichever works better for you and your company.

You can pay back your loan early to avoid costs, and payments can be withdrawn automatically from a designated company account.

Why choose Lulalend?

• Lulalend is trusted by SMEs around the country
• Apply in just a few minutes
• Client-focused service
• Conditions that are clear and flexible
• Signature credit
• No lengthy lines or voluminous paperwork
• 24-hour access to financing
• Lulalend says yes to loans more often than not

Lulalend features:

• Reduced loan terms: Loans with shorter terms offer the advantage of quickly repaying the obligation without piling up burdensome long-term debt.
• Adaptable plans: Select between a six or twelve-month loan period. There aren't any hidden costs and Lulalend’s loans are straightforward.
• Added security measures: Yodlee, a tool used by Lulalend for data analytics, can provide you confidence that your papers are being stored safely.
• Applying online: There’s no need for paperwork or in-person branch visits because you can make a loan application electronically in a few minutes.
• Repaying the loan early: You have the option to pay back your loan early with Lulalend without incurring any fees. You'll save money by doing this as you'll be paying fewer monthly fees.
• Initial charges: There aren't any admin or loan initiation fees to be concerned about.

As a small firm, having simple access to working money enables you to pursue development possibilities. You can obtain cash right away thanks to a business credit facility, which gives you peace of mind.

Increased accessibility to working capital can make the distinction between a profitable and unsuccessful month for a small firm. When you use Lulalend's business credit facility, you can rest easy knowing that you may quickly obtain credit when you need it.

You don't need to submit a new application while using their credit facility to have immediate access to a line of revolving credit. The quick and safe process of applying online with Lulalend just takes a few minutes.

You have access to unsecured, unrestricted company capital up to R5 million. Furthermore, a funding specialist oversees the management of your account because Lulalend values your company.

Obtain a line of credit for your company that you can use as needed. You may borrow up to R1,500,000 in total. Your current repayment profile will be cancelled according to each withdrawal you make, and a new payment schedule based on the total amount still owed will be established.

How does Lulalend’s credit facility function?

Instead of having to reapply for new company financing every time, you can use your credit line whenever you need it.

When you require additional financing, simply sign into your Lulalend account and obtain funds with a few simple mouse clicks.

Here are some reasons why company owners are utilising Lulalend's financing facility to expand their businesses:

• There aren't any account charges that need to be paid monthly.
• Only the amount used will need to be repaid.
• There are no fines for early repayment, you can make repayments at any time.
• Additionally, the capital amount is accessible again following each repayment since the facility functions like revolving credit.

You need to have been trading for a minimum of a year and bring in at least R500 000 annually. Join the tens of thousands of SMEs in South Africa. You can easily request a free quote from Lulalend today.

How much will the business credit facility cost with Lulalend?

1. Monthly fees: With the help of Lulalend’s 6 and 12-month plans, they’ve shortened the lending process. Depending on the plan you select, you must repay 1/6 or 1/12 of the total upfront amount each month in addition to the monthly fee. For the first two or four months (depending on the plan), monthly costs range from 2% to 6% of your upfront amount, while for the rest of the period, they are 2%. You can save money by paying early.
2. Interest rates: Instead of charging interest, Lulalend provides loan advances at a set price.
3. Late repayment penalties: These fees will only be applied if you fail to repay your loan or don't make payments on time.