South Africa’s leading fintech, Lula, is taking a giant leap forward in its mission to support SMEs. Following its recent rebranding from Lulalend, Lula is now offering an array of first-to-market services poised to redefine the SME banking landscape.
Lula’s innovative approach to banking is designed to meet the unique needs of SMEs.
“We believe in the power of SMEs as the engine of the South African economy. Our new services are tailored to support these businesses in a way that traditional banking has not,” says Trevor Gosling, Lula’s Co-founder, and CEO.
“We’ve reinvented how a business bank account can support business owners, offering them a platform where they can manage all of their business finances from one place, via an account that can be opened online within minutes,” he adds.
With Lula, businesses can choose between a Free or an Unlimited business bank account. The free business bank account is an ideal choice for smaller, earlier stage businesses with zero monthly fees,” says Gosling.
However, he explains that, with built-in features designed for comprehensive financial management, this tailored offering is also a relevant and savvy choice for established SMEs. “The pay-as-you-transact model, coupled with the ability to link and view all of your other bank or management accounts, make it a fitting option for SMEs that want flexibility and support managing their overall finances.”
“On the other hand, the Unlimited business bank account offers additional value to businesses with larger scale operations , such as the ability to make an unlimited amount of free EFT transactions for a fixed monthly fee,” Gosling elaborates.
Available with either account option will be the fast and easy access to business funding, for SMEs of all sizes, that the company is already well known for. Lula offers a unique Revolving Capital Facility, providing businesses with the flexibility to withdraw funds up to an agreed limit as and when needed, without having to reapply each time. Lula’s Revolving Capital Facility, which can be created within 24 hours from application, offers business owners peace of mind knowing they have instant cash flow support available.
Willem Haarhoff, Chief Executive Officer at DoughGetters, a globally active accounting firm, says that “Lula’s innovative banking approach has streamlined our financial operations, which in turn is propelling our growth and productivity. It truly is a blend of data-driven decision-making and financial control at our fingertips and the sign up process was super easy and efficient. Well done Lula.”
“We’re not just a banking platform. We’re a financial partner, ready to empower your business with the latest financial management tools, as well as fast and easy access to capital. Our unique digital solutions will enable business owners to simplify cash flow management and spend more time on growing their business, helping unlock the vast potential of SA’s SMEs, and drive our economy forward,” says Gosling.
For more information about Lula’s unique offerings, visit www.prod.lula.co.za