Lulalend is an online lender that offers a variety of unsecured business funding options including retail financing and inventory loans. They provide quick, easy short-term funding through an online interface.
Some of the sectors that Lulalend caters for are manufacturing, construction, professional services, retail, and hospitality and restaurants.
The company was launched to disrupt traditional lenders with their technology-first approach and by providing accurate and quick loan processing.
Lulalend charges a fee (cost) which is based on a % of the principal amount funded. The cost varies between 5% and 12% and is determined based on the risk and overall scoring of the business.
Monthly costs are 3% – 10% of your advanced amount for the first 2 or 4 months (plan dependant) and 2% for each of the remaining months.
The affordability assessment (measure of business financial health) is based on the historical financial information and does not take future contracts into account.
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