Interest rate
% p.a. from 14% to 20% p.a. depending on application
Security type
Property Secured
Upfront fee
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Mozo editorial review Lumi Lux - last updated: 28 June 2022

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What's hot
  • Rates decrease by 0.25% every six months
  • Rates range from 14% to 20%
  • Borrow between $200,000 and $500,000
What's not
  • 3.5% establishment fee
Mozo snapshot

The Lumi Lux business loan is designed to give business owners a degree of certainty in an environment of rising interest rates. How? So long as you exhibit good repayment behaviour over the life of the loan, your interest rate will be reduced by 25 basis points every six months (up to a maximum of 2%). You’ll be able to borrow between $200,000 and $500,000, with interest rates ranging from 14% to 20% depending on your business profile.

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Key features

With a Lumi Lux business loan, you’ll receive an interest rate between 14% and 20%, depending on how long your business has been operating and its annual revenue, among other factors. Loan amounts range from $200,000 to $500,000 and terms go up to four years. You’ll also be looking at an establishment fee of 3.5% of the amount borrowed.

What sets this loan apart, however, are the periodic interest rate discounts. So long as there are no loan repayment arrears, dishonours or loan contractual breaches, your interest rate will decrease by 25 basis points every 6 months (up to a maximum discount of 2%). This can go a long way towards restoring confidence at a time when interest rates are heading in the opposite direction.

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Who is it good for

To be eligible for a Lumi Lux business loan, you’ll need to tick a few boxes. Namely, Lumi prefers your business to be at least three years old, have an annual revenue of at least $2 million, and be up to date with all ATO payments and/or any existing Lumi payment plans.

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Any catches

The Lumi Lux business loan is secured against property. You’ll also need to budget for the 3.5% establishment fee.

Details

Rates and fees information correct as at 14 August 2022. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates

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Fees

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3.5% establishment fee of the disbursed amount.

$50.00

$0.00

$0.00

$0.00

Features

Weekly

Principal & Interest

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yes

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no

Loan interest rate decreases by 0.25% every 6 months with good repayment history up to a maximum 2% drop.

Must be secured against property.

Example cost figure provides indicative minimum total repayments over 6 months on a $10,000 loan. Actual costs will vary depending on individual risk score as assessed by the lender.

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About Lumi