Lumi Business Loan – loan
Unsecured business loans from $5,000 to $300,000 for Australian businesses. No property security required, apply online in minutes.
Applying does not commit you to a contract.
Properties of this loan
- Borrow $5,000 to $300,000
- Terms from 3 to 24 months
- No property security required
- Weekly or fortnightly repayments
- Online application in minutes
- Same-day approval possible
Lumi Business Loan
Lumi provides unsecured business loans from $5,000 to $300,000 for Australian small and medium businesses. No property security is required, which makes the product accessible to businesses that do not own real estate. The application is done online, takes a few minutes, and uses bank statement data to assess the business's cash flow and repayment capacity.
Loan terms run from 3 to 24 months. Lumi structures repayments on a weekly or fortnightly basis. The pricing model uses a factor rate rather than an interest rate, meaning the total cost is calculated as a fixed amount at the start rather than accruing over time. This makes early repayment less beneficial from a cost perspective.
Lumi is best suited to businesses that need working capital, equipment, or short-term cash flow support and cannot or do not want to use property as security.
✓ Pros
- No property security required
- Fast online application
- Same-day approval possible
- Funds within 24 hours of approval
- Suitable for businesses without real estate
✗ Cons
- Factor rate pricing, early repayment saves little
- Short maximum term of 24 months
- Weekly repayments required
- Higher effective cost than bank finance
Loan requirements
- ✓ Active ABN
- ✓ At least 6 months in business
- ✓ Australian business owner 18+
- ✓ Regular business revenue
- ✓ Active business bank account
- ✓ Online bank statement access for assessment
Frequently asked questions
Same day, funds within 24 hours
The minimum loan amount at Lumi Business Loan is $5,000.