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Lulalend

Table of Contents
Lulalend Inventory Loans
Introduction

Lula, formerly Lulalend, is one of South Africa’s leading alternative business funders. It advances working capital to small and medium businesses through a fast online application, with money reaching approved accounts in days rather than the weeks a traditional bank takes.

Who it suits

Lula fits a trading South African SME that needs capital to cover costs, buy stock, or take on a bigger opportunity, and cannot wait out a slow bank process. It is aimed at owners who want a straightforward answer and quick funding.

What you get

  • Working capital advanced quickly through an online application.
  • Assessment based on how your business actually trades, not just old paperwork.
  • Transparent, upfront costs and flexible repayment.
  • No equity given up: you keep full ownership of your business.

How the cost works

Funding is quote-based rather than a fixed fee, priced on the amount and term. You see the full cost before you accept, and checking what you qualify for is free and carries no obligation.

Our take

Lula is the funder SME South Africa readers reach for most, and the reason is speed with clarity. For a business that qualifies, it turns a cash-flow problem into a solved one within days. See what makes a business bankable to strengthen your application, and compare all funding options first.

Check what you qualify for

Related: Working capital loans  ·  What makes a business bankable  ·  All funding options

Main Features
  • Type Of Funding – Lula has six financing options available: Bridging Finance, Credit Facility, Equipment Financing, Inventory Finance, Offer trade credit, and Refinancing.
  • Qualifying Criteria – Lula offers funding to businesses with a minimum turnover of R500,000 per annum and that have actively traded for at least one year. They will require your latest three months’ bank transaction history.
  • Repayment Terms – You can pay back in standard instalments over a three or 12-month period.
  • Application process – To apply online, enter standard personal and business information. Upload your recent bank statements or link your Internet banking account via Yodlee.
Pricing

Their website funding calculator provides estimates for capital payment, cost and total monthly payment due which is dependent on the loan amount.

Loans can be repaid within three or 12 months. The repayment is a 1/6th or 1/12th (depending on the plan you choose) of the total advanced amount plus the monthly cost.

The monthly costs are between 2% and 6% of your advanced amount for the first 2 or 4 months (plan dependent) and 2% for each of the remaining months.

An example of how this works is on an R20,000 loan, the total repayment amount is R23,400 on the 6-month repayment plan and R26,800 on the 12-month one.

Pros and Cons

Pros

Convenience and speed
There is no interest charged. Lula charges a fee (cost) which is based on a percentage of the principal amount funded.

Cons

Slightly higher fixed costs amount.
Limited loan amounts
FAQs

Lulalend caters to a wide range of established South African SMEs across various industries.

Yes, Lulalend typically requires businesses to be operational for a minimum period, which can vary depending on the loan product chosen.

Lulalend prides itself on a fast and paperless application process. In most cases, you won’t need extensive documentation.

Lulalend boasts a fast approval process. You can potentially receive a decision within 24 hours after submitting your application.

If your application is not approved, Lulalend may provide feedback on the reasons for rejection. You can then address these concerns and reapply when your business is in a stronger position.

Lulalend offers transparent repayment terms. The exact amount will depend on the loan amount, interest rate, and repayment period chosen during your application.

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