The costs are based on a fixed monthly cost, not an interest rate. The monthly cost is a percentage of the principal amount funded and is determined by the credit assessment of your business.
You only pay the monthly cost for the period of time you borrow funds, so if you repay early, you save on costs. Simple.
Use Lula's funding calculator to get an estimated repayment schedule to see what your business funding will cost.
What makes applying on Lula secure and simple?
The entire application process is digital and encrypted to keep it secure. All the info you submit online is treated confidentially and will only be used by the Lula team to obtain an application result.
What is a good credit score to get business funding?
Your credit score helps lenders see how likely you are to repay your debts. The higher your credit score, the lower your risk for defaulting on payments and the easier it is to get funding.
When it comes to assessing your eligibility for business funding, Lula uses the real-time performance of your business in combination with your personal and business credit score, to make their decision.
While a high credit score helps, we believe it’s a small part of the bigger picture, which is why Lula able to say “yes” more than traditional lenders.