Since 2016, Premier Finance has partnered with Lulalend to provide South African small businesses with access to flexible, fast funding solutions. In our experience, Lulalend has proven to be an excellent choice for businesses looking to secure a revolving facility without the need for collateral. Whether your business is facing cash flow challenges or you’re looking to seize growth opportunities, Lulalend’s financial products are designed to offer quick, convenient access to the capital you need.

In this review, we’ll explore the two primary funding options Lulalend provides: the Revolving Capital Facility and the Capital Advance. We offer personal assistance through Premier Finance to ensure the best experience with your Lulalend application.

Lulalend Revolving Capital Facility: Flexible Funding When You Need It

Lulalend’s Revolving Capital Facility is ideal for businesses needing fast, ongoing access to funds. A revolving facility allows you to draw on a pre-approved line of credit whenever you need it. This means you don’t have to reapply for funding every time an opportunity or expense arises. Once approved, you can withdraw capital, repay it, and withdraw again as needed.

For businesses dealing with fluctuating revenue streams or seasonal changes, having a revolving facility in place can provide much-needed stability. It ensures that you can meet operational costs, pay salaries, and cover unexpected expenses without disrupting your business activities.

How Does It Work?

With Lulalend’s Revolving Capital Facility, businesses can access capital up to an agreed limit, with the ability to withdraw funds as and when needed. Repayment terms are flexible, allowing you to repay the credit over a period that suits your cash flow. Once you’ve repaid the borrowed amount, you can draw on the line of credit again without the hassle of reapplying.

• No Monthly Fees: Unlike traditional revolving loans, Lulalend’s facility comes with no monthly account or admin fees. You only pay for what you use, making it a cost-effective solution for managing cash flow.
• No Reapplication Required: Once your facility is approved, you can withdraw funds within your credit limit whenever you need them, without going through the application process again.
• Instant Access: Gain access to working capital quickly to take advantage of new opportunities or cover pressing expenses.

Who Benefits from a Revolving Capital Facility?

A revolving capital facility is perfect for businesses that need quick access to cash but don’t want to be tied down by long-term loan agreements. It’s especially helpful for businesses experiencing revenue fluctuations, such as seasonal businesses or those reliant on project-based work. Whether it’s covering operating costs during slow periods or seizing opportunities to expand, Lulalend’s Revolving Capital Facility offers the flexibility to manage your cash flow more effectively.

Lulalend Capital Advance: Fixed-Term Funding with Predictable Repayments

Lulalend’s Capital Advance is another valuable option for businesses needing a lump sum of capital with a clear repayment structure. The Capital Advance is a one-time loan that is repaid over a fixed term, typically 3, 6, 9, or 12 months. This type of funding is ideal for businesses that need a straightforward loan with predictable costs and no surprises.

How Does It Work?

The Capital Advance provides fast access to funding, with a repayment schedule that ensures you know exactly how much you’ll be paying each month. This predictability makes it easier to plan your business finances and budget accordingly. Additionally, Lulalend offers the flexibility of early repayment with no penalties, allowing you to save on fees if your business is in a position to settle the loan ahead of schedule.

• Transparent Costs: With the Capital Advance, all fees and repayment amounts are clear from the outset. There are no hidden costs or unexpected charges.
• No Early Repayment Fees: You can repay your loan early without incurring penalties, which can save you money if your cash flow improves sooner than expected.
• Quick and Simple Application: The online application process is straightforward, and funding is typically disbursed within 24 hours of approval, allowing you to act quickly when capital is needed.

When to Use a Capital Advance

A Capital Advance is a great solution for businesses that require a one-time injection of funds for a specific purpose. This could include purchasing new equipment, covering the cost of a large order, or financing a marketing campaign. The fixed repayment terms provide peace of mind, as you’ll know exactly how much you owe and when the loan will be fully repaid.

Why Choose Lulalend?

Lulalend has established itself as a leader in short-term business financing in South Africa, offering fast, flexible, and accessible funding options for small to medium-sized enterprises (SMEs). Here are some key reasons why Lulalend is a great choice for business owners:

1. Simple, Fast Application Process: Lulalend’s online application is quick and easy, with no paperwork or branch visits required. By securely linking your bank account, you can share your transaction data with Lulalend, allowing them to assess your business in real time.
2. Instant Access to Funds: Once approved, Lulalend provides rapid access to funds, often within 24 hours. This speed can make a critical difference for businesses needing immediate cash flow.
3. Flexible Repayment Options: Whether you choose the Revolving Capital Facility or the Capital Advance, Lulalend’s repayment terms are designed to be flexible, with no penalties for early repayment.
4. No Hidden Fees: Lulalend prides itself on transparent pricing. You’ll know exactly what you’re paying upfront, with no monthly account or admin fees for the Revolving Capital Facility.

The Benefits of Applying with Premier Finance

While you can apply directly with Lulalend, working with Premier Finance offers additional advantages. We provide personalized assistance throughout the application process and work directly with Lulalend’s management team to ensure your application receives the attention it deserves.

By partnering with Premier Finance, you’ll benefit from:

• A Single Application for Multiple Funders: We work with a range of financial institutions, allowing us to assess your business needs and connect you with the most suitable funders.
• Personalized Support: We offer hands-on assistance, ensuring that any issues with your application are resolved quickly. For example, we recently helped a client whose bank statements were in the wrong format. Thanks to our direct connection with Lulalend, we were able to have the statements manually assessed, resulting in the client’s loan approval.
• Ongoing Relationship Management: We help build long-term relationships between our clients and funders, ensuring that you have continued access to funding as your business grows.

Potential Drawbacks of Lulalend

While Lulalend is an excellent option for many businesses, there are some limitations to consider:

• No Loan Stacking: Lulalend requires that they be your sole short-term funder, meaning they will only approve a facility if they can settle any existing short-term loans you may have.
• Higher Interest Rates: While Lulalend offers fast and flexible funding, some businesses may find more competitive interest rates with other funders, depending on their financial situation.

By using Premier Finance’s application assistance you can access lenders that do allow loan stacking and offer the most competitive rates in the industry.

How to Apply for a Lulalend Facility

There are two ways to apply for a Lulalend facility:

Option 1: Apply directly through Lulalend.

1. Complete the online application form and securely link your bank account.
2. Receive a no-obligation quote within minutes.
3. Accept the quote and receive your funding within 24 hours.

Option 2: Apply through Premier Finance.

1. Submit a single application to Premier Finance, along with 12 months of bank statements.
2. We’ll assess your business needs and connect you with the most suitable funders, including Lulalend.
3. Benefit from our personalized service, including direct communication with Lulalend’s management team, ensuring a smooth application process.

Conclusion

Lulalend’s Revolving Capital Facility and Capital Advance are excellent options for businesses needing fast, flexible funding. Whether you’re managing fluctuating cash flow, covering operational expenses, or looking to invest in growth, Lulalend’s solutions provide the capital you need without the hassle of traditional financing methods.

By partnering with Premier Finance, you’ll receive personalized support throughout the application process, ensuring that your funding is secured quickly and efficiently. Ready to take your business to the next level? Apply today and let us help you access the capital you need to grow and thrive.