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Business Loan

How do I qualify for a business loan?

Banks have stringent minimum requirements to qualify for business loans. You’ll need physical collateral, significant amounts of minimum revenue, volumes of documents, and longer trading history.

It’s why alternative funders like Lulalend are meeting the needs of business owners. With Lulalend, you don’t need any physical assets as collateral. Minimum requirements are designed for SMEs. If you’re trading for one year and have turnover of R1 million, you can apply for funding with Lulalend.


What is a good credit score to get a business loan?

Typically, between 640 to 700 is a good personal credit score. However, your personal credit score is different from your business credit score. If you’re applying for a business loan, your personal credit score is one of several data points lenders consider when they model your risk.

Lulalend doesn’t rely too heavily on credit scores to assess your application. Because we use scoring technology that does a real-time assessment of your business, we can make an accurate judgement to get you the best funding deal. And with our credit facility, you can have instant access to a line of revolving credit, without needing to reapply. It’s why Lulalend offers the easiest way to access R1,5 million to grow your business.

How to apply for Lulalend business loan

Apply online at Lulalend Small Business Funding - Step 1

Complete your online application

Apply online at Lulalend Small Business Funding - Step 2

Select how much you need

Apply online at Lulalend Small Business Funding - Step 3

Get approved in 24 hours

Up to R1,5 million line of credit | Choose 6 or 12-month terms | Apply in minutes

What will I pay?

We've simplified the lending process with our 6 and 12 Month Plans. Every month you pay back 16th or 112th (depending on which plan you choose) of the total advanced amount plus the monthly cost. Monthly Costs are 2% - 6% of your advanced amount for the first 2 or 4 months (plan dependent) and 2% for each of the remaining months. You can pay early and save.

80000
6 months
Total repayment
0
No additional costs
Month Capital payment Cost * Monthly payment due
1 0 0 0
2 0 0 0
3 0 0 0
4 0 0 0
5 0 0 0
6 0 0 0
7 0 0 0
8 0 0 0
9 0 0 0
10 0 0 0
11 0 0 0
12 0 0 0
Total 0 0 0
* Based on average Lulalend Score and credit history — no hidden costs and no early repayment fees.

There's a better way to fund your business

"In the manufacturing industry you often sit in between projects with this lull, so for us cash flow is a huge challenge. Just to get funding or capital as a small business owner is almost impossible. If it wasn't for Lulalend we would have sunk a long time ago because of the bridging gap. We had the turnover and capacity but we couldn't get from month to month on the cash flow going in and out of the company."

Testimonial image
Christiaan Servaas de Wet
Business owner at C and G Fine Art

Why Lulalend?

  • Apply in minutes
  • Transparent, flexible terms
  • Access to finance in 24-hours
  • Customer-centric service
  • Unsecured financing
  • Trusted by local SMEs
  • No long queues or extensive paperwork
  • We say yes more often

Why Lulalend?

  • Apply in minutes
  • Transparent, flexible terms
  • Access to finance in 24-hours
  • Customer-centric service
  • Unsecured financing
  • Trusted by local SMEs
  • No long queues or extensive paperwork
  • We say yes more often