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In need of a business loan but want to keep some flexibility with your loan repayments?
Lumi’s Payment Holiday might just be the strategic break your business needs from your loan repayments.
It’s available for eligible business loan customers* and can be taken for up to 6 weeks at the start of your loan.
*Read the full Terms & Conditions
Take up to 6 weeks off your loan repayments, so you can use the extra cash for your business
By using Payment Holiday to temporarily relieve your business costs
Manage your Business Loan repayments on your terms to suit your business’s needs
1
Check if you’re eligible for a Lumi Business Loan with Payment Holiday
3
Enjoy a 6-week Payment Holiday and invest the extra cash back into your business
You’re only a few online steps away from submitting your business finance application with Lumi.
Tick the boxes to check if you’re ready to apply.
Often, a small business owner will want to invest in these areas to help their business grow, but find the idea of dipping into their cash flow quite daunting. This is where a business loan comes in handy, as it gives you a quick injection of cash to fund your growth, which you simply pay back in small amounts at regular intervals.
Unsecured Business Loans: An unsecured business loan is a flexible and convenient way to get the finance you need, as you don’t require collateral to obtain the loan. Collateral is something that you or your business owns that you pledge as security for repayment, i.e. your home, vehicle, inventory, etc. Instead, the loan is issued and supported based on your creditworthiness. Therefore, unlike secured business loans, a lender cannot seek repayment by going after your assets. Unsecured business loans are also designed to be easy to obtain, plus you can expect a quick application and approval process - usually within a few hours. (Read more)
Short Term Business Loans: Short term business loans can be secured or unsecured, but their main difference when compared to the other types of loans is their payment terms and borrowing capacity. Payment terms usually range from 3 to 12 months, while loan amounts are often between $10,000 and $100,000. Due to their shorter payment terms and smaller borrowing capacity, small business owners may find short term loans much easier to apply for and obtain than long term finance. (Read more)
Principle: This refers to the total amount being borrowed
Interest rate: The rate (%) at which you will repay your loan to the lender
Term: The length of your loan
Repayment frequency: How frequently you must make your repayments i.e. daily, weekly, monthly
Fees or Charges: Additional expenses you must pay on your loan. Your lender should always be upfront about these
Here at Lumi, we provide you with the best of both worlds. Not only are our business loans unsecured, but they also take place on a short term basis, with terms of 3 - 18 months. We offer loan amounts of $10,000 to $500,000, giving your small business the quick injection of cash it needs to thrive.
As a small business ourselves, we know just how valuable and limited your time is, which is why we also offer a fast and simple application process that can be completed online within just minutes. Once approved, your funds will be deposited the following business day, helping you put it to good use ASAP.
If you’re an Australian-registered business who has been in operation for at least 6 months producing a gross annual turnover of $50,000 or more, then you’re eligible to apply for a small business loan with Lumi.
To complete your loan application online, click here to get started. You’ll just need the following on-hand to complete your application:
Got more questions? We'd love to hear from you.
1300 005 864
