Lumi business loans

Fact Checked

About Lumi

Lumi is an Australian fintech lender specialising in business financing solutions. Operating entirely online, they've established themselves by focusing on streamlined application processes and quick funding application approvals for small and medium enterprises. With a digital first approach, Lendi aims to simplify business lending through modern technology and paperless applications.

Mozo may receive payment if you click products on our site. We don’t compare the entire market.

Mozo's Lumi business loan review

Unsecured Business Loan

Interest rate
from 9%
Upfront fee
-
Funding speed
Within same day
Go to site
  • Fast application with same-day decisions

  • No collateral needed for loans up to $300,000

  • Flexible loan terms from 3 to 36 months

  • Funds available next business day

  • Minimum annual turnover requirement of $50,000

  • Business must be operating for at least 6 months

  • Maximum unsecured loan amount capped at $300,000

Our verdict

Lumi unsecured business loans can be set up online with an application process that takes just 10 minutes to complete and can be approved within 24 hours. This makes it an advantageous option for businesses that can't wait weeks for traditional bank approvals. With loan amounts ranging from $10,000 to $750,000 (though only up to $300,000 for unsecured loans), Lumi caters to various business sizes and needs.

One notable benefit is the absence of early repayment fees, giving businesses the flexibility to pay off their loans sooner if their cash flow allows. This, combined with a 2.5% establishment fee with no hidden charges, can make Lumi’s unsecured business loan a good option for businesses that value predictability in their financing.

The interest rates may be higher than secured loans from traditional banks which is reflective of the increased risk of unsecured lending (for the lender). This is somewhat offset by a speedy application process. The minimum requirements are also relatively low with businesses needing only 6 months of operating history and $50,000 in annual turnover to be eligible.

Where do I get it? Visit Lumi's website to apply for an unsecured business loan.
Mozo may receive payment if you click products on our site. We don’t compare the entire market, but you can compare more bank business loans here.
Last updated 3 December 2024 Important disclosures

Lumi business loans

  • Unsecured Business Loan

    A straightforward business loan with no hidden Lumi fees or charges. Speedy application and approval process with fast access to funds according to Lumi.

    Interest rate
    Upfront fee
    Funding speed
    from 9%
    -
    Within same day
    Go to site
    Details

Get the latest news and product updates.

FAQs

How do I apply for a Lumi business loan?

You can apply online through Lumi's website in about 5 minutes. You'll need:

  • Your ABN/ACN
  • Driver's Licence
  • Business bank account details for online banking
What are the minimum requirements for a Lumi business loan?

To qualify, you must:

  • Have an Australian registered business
  • Be operating for at least 6 months
  • Have a minimum annual turnover of $50,000
How quickly can I receive funds from Lumi?

After approval, funds are typically available the next business day. Decisions are usually made within 2 business hours of application submission.

Business loan quick links


Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.