Terms & Conditions

To comply with the Consumer Protection Act, 2008 (the “CPA”), certain portions have been written in bold to draw your attention to such provisions.

These provisions:

• limit in some way Our risk of liability or any other person;

• is an assumption of risk or liability by You;

• impose an obligation on You to indemnify Us or any other person; or

• is an acknowledgement of a fact by you.

You are required to ensure that before using the Platform, You had an adequate opportunity to read and understand the implications of the terms in bold.

By using the Platform, You agree to these terms, and it will be deemed that You understand their implications and that the terms were written in plain and understandable language that You understand.

Who we are:

We are a private company incorporated under the laws of the Republic of South Africa as Lula Lend (Pty) Ltd, registration number 2014/156767/07. We refer to ourselves as “We”, “Us”, “Our”, and “Lula” in the documents governing Our contractual relationship.

When We refer to “You” or “Your”, We mean the person or entity with which We conclude a contractual relationship.

By submitting an application on behalf of a business, whether a sole proprietor, company, close corporation or other juristic entity, You confirm that you have the necessary authority to act on behalf of such business.

Our platform:

When You use Our Platform, You agree to these General Terms and Website Terms of Use.

To use the Platform, You must have access to a stable and secure internet connection.

We are not liable for any loss you sustain due to your failure to use a stable and secure internet connection.

We will try to ensure the Platform is always available. However, it is possible that on occasion, the Platform may be unavailable to permit maintenance or other development activity to take place or in the event of something happening that is not within Our control (read more on things outside Our control).

We may publish details of any foreseeable unavailability of the Platform on Our Website.

What needs to happen before you can use the platform?

Before You can use the Platform, You must complete an application to create a User Account.

We can decide to approve Your application subject to You providing certain information.

If You do not provide the required information within the required time, We can decide to disapprove Your application to create a User Account.

We can also disapprove Your application if the information is, in Our view, unsatisfactory or You do not meet Our acceptance criteria.

Approval of Your User Account does not mean that You are approved for any of Our Solutions. Use of any of the Solutions is subject to a further application procedure and approval.

Information that we require:

During any application process, We may require certain information from You to assess Your application and comply with Our legal requirements.

In order to ensure responsible lending, we may conduct credit checks on the individual submitting the application, the company / close corporation and its directors / members, as We in our sole discretion deem necessary. By agreeing to these terms, You are providing the necessary consent to allow us to do so.  

You must provide information that is true, accurate and complete and by providing the information, We are entitled to rely thereon and accept that the information is true, accurate and complete. 

If we require any documents from You, the documents must be in form and substance acceptable to Us.

How to access the platform:

To access the Platform, You must complete the application on Our Website. We will then send You a verification email to verify Your email. Once verification is complete, You will be able to access the platform.

Security procedures that you must follow:

We may communicate security procedures to You to keep Your User Account safe.

We are not liable for any loss you sustain due to your failure to implement the communicated security procedures.

Who can have access to your user account:

You can link one or more users to Your User Account.

We are not responsible for ensuring that these users have the required authority to act on your behalf. Despite this, We may require You to provide Us with documents showing that these users have the required authority to act on Your behalf.

You are responsible for anything done by the linked users on the platform, and we do not take any responsibility for their actions.

Statements:

We will send You periodic statements in electronic form from time to time.

You must report any mistakes or transactions done without Your permission to Us within 30 days from the date of the statement.

If You do not report a mistake or a transaction done without Your permission within the provided time, We can assume the entries and transactions shown on the statement were correct or done by You or with your permission.

We are not responsible for any loss you suffer because you didn’t report mistakes or unauthorised transactions on time.

Changes to the terms:

We can change these Terms at any time.

We will notify You about any important changes to these Terms before we make the change.

Unless You dispute the change before the date the change applies, We can assume that You agreed to the change.

When can we terminate your user account or any solution you may have with us?

We can terminate Your User Account or any Solution You may have with Us if:

• We cannot verify Your identity,
• We are unable to comply with Our FICA requirements,
• We fail to receive the information requested, 
• You are in breach of any agreement concluded with Us;
• You provide untrue, inaccurate, or incomplete information; or
• We suspect any illegal or prohibited conduct by You.

If we terminate your user account or any solution you may have with us:

• You indemnify Us and Our Affiliates from all claims from any third party that may arise due to Your User Account or the Solution You have with Us being terminated; and

• You must not attempt to gain access to Your User Account or any Solution We may provide to You.

Pricing guide:

We may change our fees from time to time.

We will publish our latest fees and the applicable effective dates on our Website from time to time.

Scroll down to the bottom of our funding calculator on our homepage and click the dropdown arrow next to Full repayment plan to view our latest pricing guide. 

Unless we say otherwise, all fees are non-refundable.

What if there is a conflict between the general terms and solution-specific terms?

If there is a conflict between the General Terms and any specific terms applicable to a Solution, and only to the extent of the conflict, the more specific term applicable to the Solution will apply.

Certifications of amounts due:

If We need to take legal action against You, one of Our managers (who do not need to prove their appointment) will produce a certificate, which shows the amount you owe us. 

If You don’t agree with this certificate, You will have to prove that it is wrong.

Things outside of our control:

We may be prevented from providing our solutions to You or fulfilling Our obligations to you because of things outside our control.

Things outside Our control includes electricity failures or blackouts, or the unavailability of any telecommunications system or networks. It also includes wars, fires, floods, strikes, epidemics and pandemics.

In cases where something happens outside Our control:

• We will not be responsible for any failure to perform any of Our obligations to You; and
• Our obligations will be suspended for as long as such interruptions continue.

We may give You prior notice of any scheduled and / known interruptions and changes, but We do not have an obligation to do so.

We are not liable for any loss or damage of any nature you sustain as a result of anything that is not within our control.

Publicity:

You give Us consent to publish your name and logo for marketing purposes.

Alternative dispute resolution:

If a dispute arises between us, the dispute must first be referred to mediation under the AFSA Mediation Rules. 

If the mediation is unsuccessful, we must proceed with arbitration proceedings under the AFSA Expedited Arbitration Rules. 

If the dispute is of an accounting nature, the parties agree to the appointment of an independent accountant of no less than 10 years experience to act as mediator or arbitrator should mediation fail.  

If the dispute is of a legal nature, the parties agree to the appointment of an independent practising attorney or advocate with no less than 10 years experience to act as mediator or arbitrator should mediation fail.

The mediation and if necessary, the arbitration proceedings will be held in Cape Town.

Any decision of the appointed arbitrator is final and binding on the Parties, subject to the right of appeal. Despite this alternative dispute resolution clause, We may obtain interim relief on an urgent basis from any competent Court having jurisdiction.

Enforcement costs:

If You are in default of Your obligations towards Us, You must pay all costs and expenses (including legal fees on an attorney and own client scale) incurred by Us to enforce or preserve Our rights.

The laws that govern our relationship:

Our relationship is governed by and must be interpreted according to the laws of the Republic of South Africa.

Assignment of rights and obligations:

We may assign, subcontract, or transfer any right or obligation under an agreement concluded with You without Your prior written approval.

You may not assign, subcontract, or transfer any right or obligation under an agreement concluded with You without Our prior written approval.

Failure to exercise our rights:

Our failure to exercise or enforce any right or provision does not constitute a waiver of such right or provision.

Severability:

If a provision of a contractual relationship with You is unenforceable, the enforceability of the remaining provisions will not be affected.

Continuing effectiveness of certain provisions:

The termination of any contractual relationship with You will not affect provisions that provide that they will operate after such termination.

Glossary

Cookie Policy	Our cookie policy – https://www.lula.co.za/privacy-policy/
CPA	Consumer Protection Act, 2008.
FICA	Financial Intelligence Centre Act, 2001.
Funding Solutions	means the solutions We provide our customers as per Our Website.
Our Affiliates	means Our directors, shareholders, employees and agents.
PAIA	Promotion of Access to Information Act, 2000.
PAIA Manual	Our PAIA Manual – https://www.lula.co.za/privacy-policy/
Platform	Once You have logged into Your User Account, You will enter Our Platform
POPIA	Protection of Personal Information Act, 2013.
Pricing Guide	Our Pricing Guide – http://www.lula.co.za/pricing
Privacy Policy	Our Privacy Policy – https://www.lula.co.za/privacy-policy
Solution	We have funding and transactional account solutions, which You can apply for through Our Platform.
Transactional Account Terms	Our Transactional Account Terms – https://www.lula.co.za/transactional-account-terms
User Account	The account You register on Our Website by completing the application.
Website	https://www.prod.lula.co.za
Website and Platform Terms	Our Website and Platform terms – https://www.lula.co.za/terms-conditions

Lula Funding Black Friday Promotion  

Purpose 

Lula is dedicated to fuelling the growth of South African SMEs. That is why we launched our online SME funding and Business Banking platform to give South African businesses access to quick, simple business class funding and banking solutions. Partnering with us means that business owners have more time to really focus on their businesses. We are currently offering a Black Friday promotion to our new funding customers, offering a payment holiday, with the first repayment only due on 23 January 2026. 

Qualifying criteria 

This offer is open to new funding customers only, in that you can’t previously have had an advance with Lula, whether with Lula directly or through one of our partners, Vodalend, Yoco Technologies, Takealot, Nightbridge, Peach Payments or HelloPay. In order to qualify for this Black Friday deal, you must: 

• not be an existing funding customer of Lula or our partners (as detailed above); 

• apply for funding via the promo URL; 

• complete* this funding application between 23 October and 30 November 2025; 

• be approved for funding and have this funding disbursed into your nominated account by no later than 15 December 2025. 

*an application will only be considered to be complete if submitted during the promotion period and once all documentation reasonably required by Lula has been submitted by you, the customer. 

Promotion period 

• This Black Friday promotion will run from 23 October 2025 to 30 November 2025. 

• Any early termination or extension of this campaign will be solely at the discretion of Lula. We will notify you of any early termination or extension. 

• This campaign is open to all new funding customers who apply for funding and meet the above qualifying criteria during the campaign period.

What are the benefits of this campaign 

If you meet the qualifying criteria set out above, complete all steps required, and have funds disbursed into your nominated bank account by no later than 15 December 2025, you will receive a payment holiday, in that your first repayment will only be on the 23rd of January 2025 and not our standard 14 days from disbursement. This repayment holiday will be at no additional cost to you, and you will simply receive the benefit of additional cash flow during this payment holiday period.

General terms and conditions

• This repayment holiday will only be applicable to new funding customer who complete an application for funding during the promotion period via the promo URL Any funding applications completed prior to 23 October 2025 and after the 30 November 2025 will not receive the benefit of this promotion unless Lula, in its sole discretion decides to extend the promotion period.

• Applications must be completed during the promotion period. Any application completed during the promotion period will still receive the benefit of this promotion even if approval takes place subsequent to the 30 November 2025 deadline date, provided the offer of funding made by Lula to the customer is accepted by the customer concerned and the funding is disbursed on or before 15 December 2025. Any funding disbursed subsequent to the 15th of December 2025 in respect of completed applications during the promotion period (due to no delays occasioned by Lula) will not receive the benefit of this promotion.

• New customers who have never had funding with Lula

• You are responsible for ensuring your funding application is completed within the promotion period in that you are responsible for ensuring all required documentation has been provided to Lula’s satisfaction in order for your application to be considered complete, This is to enable Lula to conduct the necessary credit and affordability assessments.

• All funding applications will be assessed according to our internal credit and affordability assessments and any approval is determined solely by Lula. Lula has no obligation to approve any application received and a submission of an application through the promo URL does not entitle any customer to funding. Lula’s decision in this regard is final.

• Any costs applicable to approved funding is determined solely at Lula’s discretion in accordance with Lula’s internal cost structures and pricing bands.

• Lula reserves the right to terminate this promotion at any time during the promotion period and similarly, reserves the right to extend the promotion period should it in its sole discretion decide to do so.