Lulalend
- Business Loans up to R5,000,000
- Funding within 24 hours
- Repayment up to 12 months
[Accessed July 25, 2023]
About Lulalend
Lulalend was founded to provide funding solutions for small businesses. The company believes that small businesses are the key to local economic success, and as such, it’s dedicated to empowering these businesses with the funds they need to grow.
Lulalend's products and services are designed to keep business owners moving, and it ensures that its funding costs and terms are transparent and easy to understand to help achieve this.
Lulalend’s founders and their background
The company was founded by two individuals, Trevor Gosling, and Neil Welman. Trevor Gosling is a Chartered Accountant with an entrepreneurial background. He previously founded an e-commerce venture called 5ounces, which was acquired by the Naspers group in 2013. After the acquisition, Gosling continued to work as CEO.
Neil Welman is a Chemical Engineer with expertise in credit and derivatives risk and rapid application development. He has previously consulted for large financial institutions such as Barclays Capital, Merrill Lynch/Bank of America, Royal Bank of Scotland, and Lloyds TSB.
Lulalend's dedication to empowering small businesses in South Africa
Lulalend believes in the power of small businesses to make a positive impact on their communities.
The company works hard to provide an easy and inspiring lending experience to small business owners in South Africa. Its dedication to small businesses has made it a trusted partner for many entrepreneurs.
The company understands that having someone to speak with about financing is important, and as such, it has specialists available to answer any questions that you may have.
Lulalend's flexible and convenient financing solutions for businesses
The company's products and services are designed to help business owners access the funds they need quickly and easily. Lulalend offers short-term loans, which are typically repaid within six months, as well as long-term loans, which can be repaid over up to two years.
The company also offers flexible repayment options, which allow you to repay your loans at a pace that suits your business. Lulalend's online application process is quick and easy, and you can receive funding within 24 hours.
Lulalend Services
Bridging finance is a type of business financing that helps cover immediate costs during the waiting period between expected cash flow boosts.
It’s particularly useful when a company is expanding or investing in high-return projects. Lulalend offers unsecured bridging finance with affordable rates and easy access within 24 hours. The application is quick and completely paperless, with no collateral required.
The pros and cons of refinancing business debt
Refinancing is a strategy that allows businesses to shift their debt to a more favourable place, with better terms and lower interest rates.
It can help reduce monthly repayments and maintain a good credit record. However, businesses should be aware of the risks involved and explore all the pros and cons before committing to refinancing.
Inventory and equipment finance: Helping retail businesses stay competitive
Inventory finance is a form of business funding that helps cover the costs of maintaining enough inventory for retail businesses.
It can help bridge the gap between customer collections, cash requirements for production, and sales capacity.
Equipment finance is also crucial for businesses that need to upgrade or replace equipment to meet increased demand or in case of emergencies. Lulalend offers both inventory and equipment finance up to R5 million with easy access and a quick online application.
Flexible business funding with Lulalend's revolving capital facility
Lulalend's revolving capital facility provides small businesses with easy access to working capital when needed.
With this facility, businesses have instant access to a revolving line of credit up to R5 million, ensuring they can access business funding quickly and easily to cover any unexpected expenses or opportunities that may arise.
Lulalend – Business Loan
- Loan Type Business Loans
- Loan Amount up to R5,000,000
- Repayment 3 months to 12 months
Benefits of Lulalend
- Quick access: Receive your loan within 24 hours.
- Transparent costs: Easy-to-understand terms and pricing.
- Flexible repayment: Options for short-term and long-term loans.
- Unsecured bridging finance: No collateral required.
- Inventory and equipment finance: Support for retail businesses.
- Revolving capital facility: Instant access to working capital up to R5 million.
- Simple application: Online application process with real-time evaluation.
- Qualifications: Businesses operating for at least one year with annual revenue of R500,000+.
- Diverse use: Funds for various business needs, from staff to machinery.
- Focus on growth: Lulalend empowers small businesses to thrive and expand.
Business Loan calculator
How to get fast and simple business funding with lulalend in South Africa
Lulalend is a business financing service that provides funding to small businesses in South Africa. To apply for funding, you can submit an online application for free, which requires some basic personal and business information and recent bank statements or a link to your internet banking account.
Alternatively, you can call Lulalend to start the application process. The company aims to approve businesses for financing quickly, and its scoring technology evaluates a business's real-time performance to determine the best possible funding option.
Qualifying for Lulalend funding: requirements and repayment plans
To qualify for Lulalend's funding, businesses must have been in operation for at least one year, generate annual revenue of R500,000 or more, and be located in South Africa.
Lulalend offers two repayment plans: a six-month plan and a twelve-month plan. With both plans, businesses pay back a fraction of the advanced amount each month, plus a monthly cost.
The monthly cost is 2% - 6% of the advanced amount for the first two or four months, depending on the plan, and 2% for the remaining months. There are no hidden costs, and businesses can pay early to save.
Flexible financing solutions for diverse business needs: Lulalend's offerings
Lulalend's financing options can be used for a variety of business needs, such as;
- Buying goods for sale
- Employing staff
- Commencing advertising efforts
- Procuring machinery or tools
- Refurbishing or improving
- Initiating additional sites
- Overseeing finances
- Dealing with unforeseen costs
- Closing payment gaps
The company offers various financing options, including;
- unsecured bridging finance
- inventory finance
- equipment finance
- revolving capital facility
Grow your business quickly and transparently with Lulalend's financing options
Lulalend aims to provide businesses with quick access to funding to help them grow and thrive. Its transparent costs and simple application process make it an attractive option for businesses looking for financing. With its scoring technology and focus on business performance, Lulalend aims to offer businesses the best possible financing options to help them achieve their goals.
Lulalend is a trusted & reliable provider of business loans
In our review, Lulalend adheres to the compliance criteria in accordance with the National Credit Act, where the granting the loan will not cause financial distress to the consumer.
✅ Lulalend is a registered credit provider in South Africa: NCRCP7117
Lulalend Contact
Contact Number
Website
Physical Address
- 3rd Floor Pier Place Heerengracht Street Cape Town Western Cape 8000 South Africa
- Get Directions
Opening Hours
- Monday 08:00 – 17:00
- Tuesday 08:00 – 17:00
- Wednesday 08:00 – 17:00
- Thursday 08:00 – 17:00
- Friday 08:00 – 17:00
- Saturday – Closed
- Sunday – Closed