Lulalend – online loan South Africa
SME business loans from R20,000 to R5 million in 24 hours
Applying does not commit you to a loan agreement.
Lulalend business loan in South Africa
Lulalend is a South African fintech offering unsecured business loans from R20,000 to R5,000,000. The product is built for SMEs that need fast working capital. Terms are 6 or 12 months and there is no penalty for early settlement.
The application takes about 8 minutes online. Lulalend uses bank account login (via Yodlee or Truelink) to verify business turnover. Eligible businesses are registered in South Africa, have been trading for at least 12 months, and turn over a minimum of around R40,000 per month. The lender does not require collateral or a personal guarantee on amounts below R500,000.
The cost is quoted as a fixed monthly fee instead of an annual interest rate. Typical fees are 2% to 6% per month on the original capital, with the total cost capped before signing. Repayment is by daily, weekly or monthly debit order depending on business cash flow. Money is paid into the business account within 24 hours of approval.
✓ Pros
- Approval and payout within 24 hours
- 8-minute online application
- No personal guarantee on smaller amounts
- Flexible repayment frequency
✗ Cons
- Business must trade 12+ months
- Higher cost than bank business loans
- Minimum monthly turnover required
Loan example
A R200,000 loan over 12 months at 3% monthly fee costs around R225 per day in repayment, total cost R272,000.
Loan requirements
- ✓ SA-registered business
- ✓ Trading for at least 12 months
- ✓ Minimum monthly turnover R40,000
- ✓ Business bank account
- ✓ Director ID and proof of address
Loan features
- Business loans R20,000 to R5,000,000
- Term 6 or 12 months
- No collateral on amounts under R500,000
- Fast online application
Frequently asked questions
24 hours after submitting your application.
The minimum amount at Lulalend is R20,000.