Products
Business Loan
What's the maximum funding available?
We offer up to $1M for eligible businesses that meet our lending criteria.
What can I use the funds for?
It comes down to speed and flexibility. We offer a much faster approval process, more flexible terms, and funding that can be customised to your business needs. We're simply built for the needs and pace of small business.
Is collateral required?
We fund a wide range of small-to-medium enterprises across multiple industries. Think retail, hospitality, trades, health and wellness, franchises, and professional services – if you're an Australian business looking to grow, chances are we can help.
What exactly is an unsecured business loan?
An unsecured business loan is different because it doesn't need physical assets (like your home or car) as security. Instead, we ask for a personal guarantee from the business owner. This is your commitment to repay the loan, making the finance process much faster and simpler.
What are the loan duration options?
Our repayment terms range from 3 to 36 months. While we offer this flexibility, many of our clients opt to pay off their loans within 6 months.
Can I repay the loan early?
Absolutely. You can repay the entire outstanding balance at any time without any early repayment penalties. Just give us a call at 1300 005 864 to discuss the details.
What if my business's credit history isn't perfect?
We get it – life happens. We take a holistic view of your application, focusing on the overall health and cash flow of your business, not just a credit score. Many factors contribute to our lending decision.
How quickly will I receive the funds?
Once your loan is approved, you can typically expect the funds to be deposited into your nominated bank account on the same business day.
Is there a cost to apply?
No, applying for a Lumi Loan is completely free, and you can do so as often as you need. However, to protect your credit score, we advise against applying more than once every three months.
How do I apply for a Lumi Business Loan?
Applying is simple and fast.
• Business Owners: Start your application online here.
• Brokers: Apply through our dedicated Partner Portal or reach out to your friendly Lumi Business Development Manager (BDM).
Brokers: Apply through our dedicated Partner Portal or reach out to your friendly Lumi Business Development Manager (BDM).
If you want to talk through your funding needs first, you can always call us on 1300 015 864. We’re always here to help.
What information is needed for the business loan application?
To complete your application, you'll need three key things:
• Your ABN or ACN
• A copy of your Driver's License
•. Your business bank account details
Ready to apply? Click here to start your online application. Need help with your application? Call 1300 005 864 or email sales@lumi.com.au
How are fees structured?
We believe in total transparency – no hidden fees, ever. We charge a straightforward 2.5% establishment fee, which is deducted from the loan amount at settlement. Your repayment schedule is calculated upfront, so you'll know the exact weekly amount being debited from your account. No shocks, no surprises.
How is the interest and repayment amount determined?
Because our loans are usually repaid over a shorter term (often less than 12 months), we find that an annualised interest rate can be misleading. Instead, we give you the full picture upfront: your total repayment amount and the exact weekly payment schedule. This ensures you have complete clarity before you commit.
What will my weekly repayment be?
Your specific weekly payment is based on the total amount you borrow and your chosen repayment period. We disclose this exact figure before you sign the agreement, so you're never in the dark.
What if I have trouble making a repayment?
If you’re experiencing financial hardship or anticipate missing a payment, it’s crucial to contact us immediately. We want to help and can discuss potential solutions to get you back on track
Can I take out more than one business loan at a time?
We generally recommend focusing on one funding solution at a time. However, if your growth venture requires additional capital, please get in touch so we can review your specific needs and discuss your options.
Can the loan amount be increased later on?
If your business needs a boost in funding, you may be able to increase your loan amount pending eligibility. Please contact us directly, and we will assess your situation and make any necessary adjustments.
Who qualifies for Rate Ease™?
If your business is approved for a Lumi Business Loan of $25,000 or more with an interest rate of 29.5% or higher, you’re likely eligible for Rate Ease™. Ready to confirm? Give us a call on 1300 005 864 or email us at sales@lumi.com.au.
How much will my rate decrease?
The size of your rate reduction is personalised and depends on your approved loan terms and starting interest rate.
Existing Client? Your dedicated Lumi Account Manager has the specific reduction schedule tailored to your current loan.
New Applicant? We'll provide a clear calculation of your potential savings when we process your application.
How long does the rate reduction period last?
Your interest rate will automatically decrease each month for up to 12 months – provided you keep making your payments on time. Consistency is key! If you miss a payment, you'll retain your current rate but will forfeit any future monthly reductions.
Do I need to do anything to activate the rate drops?
It's completely automatic. There's no paperwork, no need to call us, and absolutely no hassle. Once you've made four consecutive, on-time payments, your rate will automatically start dropping every month thereafter.
What’s the impact of a missed payment?
If you miss a scheduled payment, you will keep the interest rate you are currently on, but all future rate reductions under the Rate Ease™ benefit will stop. This applies even if you catch up on the payment later. The program is designed to reward consistent, on-time repayment above all else.
Are there any specific Terms and Conditions?
Yes. Rate Ease™ is exclusively available for new Business Loans (it does not apply to our Line Of Credit product). All interest reductions are provided at Lumi's discretion and are conditional on you meeting all of your contractual obligations. Full terms are available when you apply. Remember, all of our finance solutions are subject to your business's eligibility and final approval.
Payment Pause
What exactly is the Lumi Payment Pause?
We're a leading fintech small business lender focused on one thing: fuelling growth by making finance more accessible. Since 2018, we've delivered over $1.5 billion in funding, supported 15,000+ small businesses, and built strong relationships with 6,000+ brokers. We're known for our speed, flexibility, and exceptional service – providing finance solutions designed to help Australian businesses thrive.
Who can take advantage of the Lumi Payment Pause?
The Payment Pause is available to businesses that meet these straightforward criteria:
You must be an Australian-registered business that qualifies for a new Lumi Business Loan
Your business needs to have been operating for at least 6 months
You must have an annual gross turnover of $50,000 or more
You must have never missed a payment on your Lumi Loan
Please note: This feature is not available for the Lumi Business Line Of Credit product.
How is the Lumi Payment Pause structured?
• Duration: The pause lasts for exactly four consecutive weeks.
• Timing: You can request the pause at any point during the life of your loan.
• Frequency: You can use the Payment Pause only once per loan term.
• Loan Effect: The four weeks you take off from payments are simply added to the end, which extends your loan term by exactly four weeks.
What else should I know about the Lumi Payment Pause?
Here are a few key details to keep in mind:
• No Splitting: You can't divide the four weeks into smaller breaks; it must be taken as a single, four-week block.
• Repayments Resume: When the four-week pause ends, your regular weekly repayment amount will stay the same as it was before the break.
• General Terms: Your eligibility for the Payment Pause remains subject to our standard terms and our general credit criteria.
Are there any other important Terms & Conditions?
The Lumi Payment Pause applies only to new Business Loans, not to our Business Lines Of Credit. Any approval for a Payment Pause is at Lumi's discretion and requires that you continue to meet all your contractual loan obligations. All of our loan products are, of course, subject to standard eligibility and approval processes.
Payment Holiday
What is the Lumi Payment Holiday?
The Payment Holiday is a benefit that allows you to defer your loan repayments for up to six weeks right at the start of your new loan. This gives your business a crucial initial period to put the funds to work before your first payment is due.
It’s important to note: Interest does continue to accrue during this period and is added to your total loan balance.
Who can qualify for a Lumi Payment Holiday?
This option is available to Australian businesses that meet the following criteria:
• You’re approved for a new Lumi Business Loan.
• Your business has been trading for a minimum of 6 months.
• Your annual gross turnover is $50,000 or greater.
• You must request the Payment Holiday at the time you initially apply for the loan.
This feature is exclusively for Business Loans and is not available for the Lumi Business Line Of Credit.
How is the Lumi Payment Holiday structured?
• Duration: You can pause payments for up to 6 weeks from the date your loan is settled.
• When to request: This option must be requested when you’re first applying for the loan (loan origination).
• Frequency: It can only be used once for the duration of the loan.
• The Effect: Interest continues to accrue during the holiday and is added to your total loan balance
What other important details should I be aware of?
Mandatory Timing: The Payment Holiday must be agreed upon when you first apply for your Lumi Loan.
Cost Impact: Since interest continues to accrue, your total loan amount will increase slightly as that interest is added to your principal balance.
Repayments Start: Your regular weekly payments will commence immediately after the 6-week holiday period concludes. Your repayment amount is calculated based on the total loan amount, including the capitalised interest.
General Eligibility: Final eligibility for the Payment Holiday remains subject to our standard credit assessment and general terms.
Are there any other Terms & Conditions?
The Lumi Payment Holiday is applicable only to new Business Loans. Approval for the holiday is at Lumi's discretion and is dependent on you meeting all your contractual obligations. All our loan products are always subject to standard eligibility and final approval.
Line of Credit
What is a Lumi Business Line Of Credit?
Think of it as money on demand for your business. It operates similarly to a business credit card or an overdraft facility. We approve your business for a set credit limit, and you have the flexibility to draw funds whenever your working capital needs a boost. You only ever pay interest on the money you actually use.
Why is this product so popular with businesses?
It's all about flexibility and efficiency. The Line Of Credit acts as a crucial financial safety net, giving you immediate access to funds without the pressure of fixed debt or repayments when you don't need them. The key benefit is this: you only pay interest on the exact amount you borrow, not the full approved limit.
What are the minimum requirements to apply?
To apply your business needs to be:
An Australian-registered business
Operating for at least 6 months
Generating an average annual gross turnover of $50,000 or more
What's the maximum credit limit available?
We offer a maximum limit of up to $1M for qualified businesses that meet our lending criteria.
What can I use the credit line for?
Our funds are flexible. Use them for any legitimate business purpose, including: cash flow management, paying invoices or staff, boosting working capital or inventory, purchasing equipment, or financing expansion.
Is collateral required?
Just like our Business Loans, most of our Business Lines Of Credit up to $300,000 are unsecured. This means you don't need to pledge physical assets. For higher limits, property backing may be required.
How much does a Lumi Line Of Credit cost?
We pride ourselves on fuss-free, transparent funding. We charge a one-off establishment fee the very first time you make a drawdown. This fee depends on your approved credit limit. After that, there are no ongoing fees just for keeping the Line Of Credit open. No guesswork, no hassles.
How is interest calculated?
Interest is calculated purely on your outstanding balance. For example, if you have a $150,000 limit but only draw down $10,000, you’re only charged interest on that $10,000 used, not the full $150,000 limit.
How quickly can I access the funds?
Once your application is approved, funds are typically available for you to use on the same business day.
How can I manage my Line Of Credit once it’s approved?
Managing your facility is simple through our user-friendly Lumi Customer Hub. Just log in to:
Effortlessly view all transactions
Seamlessly draw down additional funds when you need them
How long does the Lumi Line Of Credit last?
Good news – it's designed to keep going! Your Line Of Credit has the potential to automatically renew each year. We’ll check in annually to review your business's situation. If everything remains consistent, you'll receive the green light to continue accessing the funds for another year. If there are any major changes, your Lumi Account Manager will reach out to discuss your options.
How do repayments work for a Lumi Line Of Credit?
You'll need to make an initial drawdown within the first four weeks of approval. With every drawdown you make thereafter, we calculate a new minimum weekly repayment. This figure covers both principal and interest, based on your current balance, interest rate, and repayment terms. This amount is automatically debited from your nominated account once a week. The best part? You can make additional payments anytime to reduce your balance faster, which directly lowers the total interest you pay.
What are the repayment terms?
Repayment terms are flexible and customised to your business with a maximum repayment period of 5 years. It’s crucial to understand that your repayment term resets every time you withdraw funds. This means each withdrawal restarts a new repayment period, which could again last up to 5 years.
Can I pay off early?
Yes. You can settle your outstanding balance at any time with no prepayment penalties.
Using the Customer Portal
How can I get funds through my Customer Portal?
In the Lumi Customer Portal, getting funds is a breeze. Submit a drawdown request with just a tap and we’ll show you your estimated weekly repayments in real-time. Expect the funds in your bank account in about 1-2 days* once your drawdown request gets the green light.
*subject to your financial institution
Where can I find my statements in the Lumi Customer Portal?
Get a snapshot of your financial profile effortlessly in the statements section of the Lumi Customer Portal
Easily view your balance and transactions all in one place and you can download your statements with the click of a button here.
Can I increase weekly payments?
Yes, increasing your weekly repayments is fust-free in the Lumi Customer Portal. Doing so will reduce your repayment term, allowing you to pay your loan faster.
Can I make adhoc payments?
Yes, you can easily make an adhoc payment straight from the Lumi Customer Portal. Doing so will reduce your repayment term, allowing you to pay your loan faster.