Why Successful SMEs Use a Cash Flow Facility to Boost Business Funding

We know running a business is never easy. It’s even harder when you can’t access capital.

Fortunately, simple, quick business funding can set your SME up for success.

Here’s where a credit facility comes in.

Think about it.

What difference would it make in your business if you could access up to R5,000,000 in capital whenever you needed it?

“User-friendly, efficient” Business Funding

A lack of funding holds businesses back. Not only that, but cash flow challenges place business owners under immense stress. Instead of jumping on opportunities to grow, you’re up at night, worrying about how to pay unexpected expenses.

And you’re not alone.

The Global Entrepreneurship Monitor report found access to finance was one of the biggest obstacles to business growth.

It’s why more and more business owners are using our credit facility to purchase stock or quickly add new team members when they take on new contracts.

One of them is Stefan Jordaan, the owner of Expidor 147, a wholesale supplier of dental products.

When Expidor 147 experiences a growth spike, Jordaan taps into his Cash Flow Facility.

“The whole process (of accessing funds) is user-friendly and efficient,” said Jordaan.

fInstead of having to re-apply for business finance, Jordaan accesses his line of revolving credit whenever he needs funds.

The cash is available immediately.

Here’s a few other reasons why so many of our customers use our credit facility:

• • You only pay for the funds you use
  • You can settle whenever you want, no early penalties
  • You pay no monthly admin fees for having the facility

And because the facility works like revolving loan the capital amount becomes available again after every debit order.

You Want Fast, Flexible Business Funding

Tracy Kukard, Business Funding Specialist and Account Manager, said many businesses prioritised easy access to funds.

“A lot of businesses like to have month to month access to a lump sum of funds that they can access at anytime when a particular business need arises.”

What this means is that if a business secures a new contract that requires more staff or equipment, for instance, they can tap into their revolving credit facility.

“Businesses across industries are applying for the cash flow facility,” says Lene Schlebusch-Kemp, Lula’s CRM Lead.“There’s no requirement or limitation on how much you use or what you use it for. If you’re a business looking to grow, fund flexibility is crucial.”

Unlike credit options with traditional lenders, Lula’s facility imposes no initiation, admin, or credit life charges.

Cash Flow Facility FAQs

Here’s answers to some of the frequently asked questions you’ve had about our Cash Flow Facility:

How do I apply for a Cash Flow Facility?

If you’ve previously applied for funding from Lula, the application is even easier. Because we already have your financial information, the process of assessing your eligibility for our Cash Flow Facility is even faster.

Contact support@lula.co.za or speak with your dedicated account manager for more.

If you’re not an existing Lula customer, apply online in minutes. Funding can be approved within as little as 24 hours.

How soon can you access the Cash Flow Facility?

Once you’ve completed your profile, which includes making sure your financial information is complete, you’ll be able to withdraw from your Cash Flow Facility.

Where can I get more info about Lula’s Cash Flow Facility?

You can read more about how our Cash Flow Facility works here, or you can watch this quick video which sums it up in a few minutes.