Lulalend
- Business loans up to R5,000,000
- Low-interest up to 28%
- Repayment up to 12 months
Table of Contents
[Accessed December 12, 2022]
What is Lulalend?
Lulalend is a South African company that makes it quick and easy for small and medium-sized businesses—SMEs for short—to get money when they need it. They started back in 2015 because they saw how tough it was for people running their own businesses to get loans from regular banks. Those banks often take forever to say yes and ask for a lot of stuff you might not have. Lulalend does things differently—they use tech to let you apply online, and you can get cash in your hands, usually within a day, without needing to promise your house or anything like that. It’s all about business loans for SMEs, made simple and fast.
Proven Impact
Since they kicked off, Lulalend has been a big help to tons of small businesses across South Africa. They’ve handed out over R2 billion—that’s a lot of money—to thousands of folks running everything from coffee shops to little factories. This cash has let people grow their companies, keep money flowing when sales dip, and hang in there even when times get rough. They’ve got a knack for stepping in when it counts.
What’s really great is that you don’t need to own a bunch of stuff to get their help—perfect for new businesses or smaller outfits just starting out. And people love them—97% of their customers say they’re happy with the service. That’s built Lulalend a solid name as a friend you can count on when you’re trying to keep your business going strong.
Recent Developments
In 2023, Lulalend took things up a notch by teaming up with Access Bank to start something called Lula. It’s like a bank account just for small businesses, mixed with extra cash options and tools to keep your money stuff organized. With this, they’re not just giving out business loans for SMEs anymore—they’re offering a whole package to make running your business smoother. It’s a fresh way to help folks like you stay on top of things and grow without all the usual hassle.
Lulalend isn’t only about handing out money—they’re all about giving people who run businesses a real boost. They’re helping South Africa grow, one small company at a time, by making sure you’ve got what you need to make it work.
Lula Business Funding
Business owners experience many various challenges during the day-to-day of their operations. One of the greatest is access to funds to keep things moving forward. Lulalend solves this by providing fast, flexible business loans for SMEs—quickly and without the hassle. For whatever your business may require, incl. stock, equipment, or just day-to-day expenses.
How Lulalend works?
Getting funded through Lulalend is straightforward (and quick), with no complicated red-tape to slow you down. Here's how it works:
- Apply Online
Your starting point is a simple online form with a few key details about your business. It doesn’t take long, and there’s not much paperwork. - Link Your Bank Account
To speed things up, you securely connect your business bank account. This helps Lulalend quickly assess your financial health and determine the right loan for you. - Get a Quote
In just a few minutes, Lulalend will provide you with a funding offer. There’s no pressure to accept—this quote is commitment-free, so you can take your time to review it. - Receive Your Funds
If you decide to proceed, the funds are transferred directly into your account (within 24 hours).
The whole process is fast, efficient, and hassle-free with the customer in mind. No queues, long wait times, nor complicated forms—access to money to keep your business moving forward.
Other Services Lulalend Offers
Besides business loans, Lulalend also provides other financial tools to help SMEs:
- Lula Business Bank Account – A free business banking solution designed to help small businesses and startups build a healthy financial track record. It comes with easy cash flow management tools to keep your business finances in check.
- Lula Business Card – A Mastercard-powered business card that lets you make purchases, manage expenses, and enjoy perks like unlimited free swipes. You can even generate a virtual card and control it digitally—freezing or unfreezing it as needed.
- Industry-Specific Financing – Retail, manufacturing, construction, hospitality, or professional services, Lulalend tailors its funding solutions to fit your industry’s specific needs.
Lulalend isn’t just about funding; they’re about empowering SMEs with the financial support and tools they need to succeed.
Lulalend – Business loan
- Loan Type Business loans
- Interest Rate 28%
- Loan Amount up to R5,000,000
- Repayment 6 months to 12 months
- Decision 24 hours
Benefits of Lulalend
- You can apply for a business loan in minutes
- They believe in flexible and transparent business loans
- There is no queuing or mountains of paperwork involved
- With Lulalend you get access to finance in 24 hours
Business loan calculator
Why choose Lulalend?
Business funding for SMEs shouldn’t be a complicated endeavor, but more often than not—it is! Most banks can take anywhere from a few weeks and sometimes longer to process applications, and expect collateral that many small businesses do not have. Lulalend outshines the others.
Quick and Simple Application
Everything happens online, and it only takes a few minutes to submit. No long forms, no unnecessary paperwork, just the details to get things going.
Fast Access to Funds
You won’t have to wait days (or even weeks) to access your funds after being approved. Lulalend will transfer the money within 24 hours!
No Collateral Required
Unlike banks (or other traditional lenders), you won’t need to put up assets as security. No collateral, no risk—making this easier for SMEs to qualify for.
Flexible Repayment Options
SMEs can manage their cash flow without feeling pressure when the repayments are made flexible. Lulalend offer no hidden fees or complicated pricing structures—everything is transparent and upfront.
Made specifically for SMEs
Most importantly, Lulalend understands SMEs. While banks tend to focus on big corporations, Lulalend is built specifically for small and medium-sized businesses, offering funding solutions that actually work for them.
Whether a business needs a cash boost, funds to expand, or help managing seasonal dips, Lulalend makes sure SMEs get the financial support they need—quickly and with no fuss.
Lulalend FAQ
What business loans are available for SMEs?
Two different options are available from Lulalend for SME funding:
- Revolving Capital Facility, which works like a credit line (you only pay for what you use), and the funds are available as you need them.
- Capital Advance, which provides a lump sum upfront with transparent repayment terms.
Both options provide fast approval and quick access to cash, so you can just focus on winning at your business.
How to choose which loan is best for my business?
You want ongoing access to capital? Then a revolving facility is the option for you. But if you need a once-off cash injection, a capital advance may be better. If you’re unsure which way to go, make contact with Lulalend’s team and they will help advise you.
What loan amounts can I apply for?
Business loans for SMEs from as little as R10,000 and can go as much as R5 million (depends on affordability).
How long until my business loan is approved?
Typically, Lulalend will have a decision ready within 24 hours (from application).
How long should my business be running before I can apply with Lulalend?
To qualify, your business should’ve been operational (and trading) for 12 months and has a turnover of at least R500,000 p/a. This ensures Lulalend that your business has a proven track record.
Do I need collateral or a personal guarantee to secure a loan?
No, you won’t need to risk personal assets to get approved. Lulalend offers unsecured business funding for SMEs.
What if I miss one of my monthly payments?
We all face money-related challenges (at some point, or another). Lulalend understands this! If this is the case, it’s always best to reach out to Lulalend asap. They will work with you to find a solution.
How long does it take Lulalend to transfer the funds after approval?
The funds will be transferred into your account within 24 hours (of approval).
What factors affect the approval of my loan with Lulalend?
Factors incl. your business’s credit rating, trading history, cash flow, and yearly revenue.
Can I apply with Lulalend even if I have a bad credit?
Yes, you can still apply! Lulalend places more importance on your business’s financial performance rather than your personal credit history. As long as your business is generating a steady revenue stream, you still have a strong chance.
What are the best alternative SME funding options if I don’t qualify for a loan?
Alternatives incl. government grants, angel investors, crowdfunding, and business incubators. Lulalend also offers guidance on how to improve your chances in the future.
How can I improve my chances of getting approved?
A few key things can help:
- Keep your financial records up to date.
- Show consistent revenue and healthy cash flow.
- If possible, reduce outstanding debts before applying.
- Have a clear plan for how you’ll use the funds and how they’ll benefit your business.
Lulalend looks at the bigger picture, so if your business is doing well, your chances are strong!
Can I get a loan with Lulalend if I’m a startup?
Unfortunately not. Once your business meets Lulalend’s qualifying criteria; minimum 12 months operations and R500,000 turnover p/a, they will most definitely assist you! Until then startups might need to explore alternatives such as startup grants, crowdfunding, or investors.
Lulalend Application
Do I qualify for a business loan with Lulalend?
If you’re wondering whether your business can get a loan from Lulalend, here’s what they look at. Your company needs to be signed up as a proper South African business—nothing shady, just the real deal. It should have been up and running for at least a year, so they know you’ve got some experience under your belt. And your business has to bring in at least R500,000 a year—basically, enough money coming in to show you’re keeping things moving.
Now, here’s the nice part: unlike the big banks that might ask you to put up your house or something valuable, Lulalend doesn’t care about that. They’re all about making it simpler for small businesses like yours to get cash when you need it.
Requirements
Lulalend keeps it pretty light when it comes to paperwork—you do everything online, no piles of forms to wrestle with. Here’s what you’ll need to pull together:
- The details that prove your business is registered—like its official papers.
- Your recent bank statements, usually from the last three to six months, so they can see what’s going in and out.
- A quick rundown of how much money your business makes in a year.
That’s it—no long chats at a bank counter or stacks of complicated money reports. They’ve made it quick and painless for you.
Process
Here’s how it all goes down with Lulalend—it’s fast and mostly online:
- Apply Online (5-10 minutes)
You hop onto their website and fill out a short form—it’s quicker than making a sandwich. - Instant Loan Offer (Within Minutes)
Their system looks over what you’ve shared and pops up with a loan offer right then and there—no waiting around. - Submit Required Documents (Same Day)
You send them those bank statements and anything else they ask for, all online, before the day’s out. - Approval and Agreement Signing (Within 24 Hours)
They check everything, send you the final thumbs-up, and you sign off on it with a click—no paper, no fuss. - Funds Disbursed (Within 24 Hours)
Once it’s a go, they drop the cash straight into your business bank account, ready for you to use by the next day.
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: FSP 5865
Customer Reviews & Testimonials
Lulalend Contact
Physical Address
- 3rd Floor Pier Place, Heerengracht Street Cape Town Western Cape 800112 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