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Lulalend is now Lula. We have a new name, a new look, but we're still your friends in funding 😃.

Team Lula answers your funding questions

Team Lula answers your funding questions

We know that speed and efficiency are really important to business owners. In fact it’s become a standard expectation for anyone nowadays to have a slick and easy online experience when they interact with a company or service. That’s how brands like Uber, Netflix or AirBnb have become such a regular part of so many people’s lives. It’s also why cutting edge technology was a huge focus when we built our platform. Today that means we’re able to process funding applications within minutes and deliver approvals within hours. 

But there’s another part to this equation that is equally important to us, and that is: people. Running a business is personal. It comes with challenges and a thousand unknown outcomes that can really test you; while also giving you the opportunity for fulfillment and success beyond what you could have ever imagined. When you interact with Lulalend, you can be sure there’s a human taking your unique needs into consideration every step of the way – even if you never actually speak to them. But a lot of the time, you do. 

We asked our team to share some of the most common questions they get from small businesses, as well as their responses:


How can I apply?

“You can either apply online, or you can call in and a consultant will help you complete your application. You’ll hear back from us in minutes and can receive funding in hours.” 

Xolani Jelemsi, Business Funding Specialist


What is the interest rate you charge?

“Our funding works differently to a traditional bank loan and is not based on an interest rate. Instead, we charge a fixed cost which is based on your overall business health and unique to your business needs; because every business is different.’’

Clayton van Wyk, Business Funding Specialist


Why is my funding quote lower than the amount I requested?

“We’re really proud of being responsible lenders and we do not want your business to be overextended in any way. We want you to be able to comfortably afford the funding. After paying back 50% of your funding you’ll have the option to come back and, depending on the performance of your business, qualify for a re-advance.”

Heidi Alson, Business Funding Specialist


Why are your rates different to a bank’s?

“We aren’t competing with the banks as we offer something completely different – we provide short-term funding. Having no penalty fees for settling early means that you only pay for the period you have the advance for. This can mean huge savings, depending on how early you settle” 

Lene Schlebusch-Kemp, Business Development Consultant

What are the benefits of taking short-term funding, instead of long-term funding?

“Working with a time period of 6 or 12 months means you’re not being tied down to debt for too long. You can access the money you need right now to benefit your business and create opportunities for growth in the long term.”

Kaushik Fakir, Business Funding Specialist

“Our fixed cost structure means you can forecast your finances without any fluctuations or hidden costs over that period. A lot of business owners really value that transparency.”

Sheldon Fortune, Business Funding Specialist

What is unsecured funding?

“Unsecured funding means that as the lender, we rely on your promise to pay back the amount we approve you for, and we don’t require collateral. You don’t need to include any assets as part of your funding, which the banks would require as a second option should you default on your repayment.”

Tracey Kukard, Business Development Consultant

How legit is Lulalend?

“Lulalend is a registered business which has been trading for 5 years. We’re a member of The South African SME Finance Association (SASFA), an organisation which encourages transparent and responsible lending to small businesses. We subscribe to a code of conduct that is focused on protecting SME customers. 

We’ve also been featured in quite a few reputable and established publications such as Cape Talk, Finweek, CNBC Africa and Business Report.  

There are lots of customer testimonials on our website and social media pages which share the experiences other South African businesses have had with Lulalend.” 

Lucille Bester, Senior Credit Manager

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