4 ways to fast forward your business with Payment Pause
As your business grows, chances are you will at some point need funding to achieve your business goals. Whether you’re looking to hire more staff, rent extra space, buy additional stock or make renovations – an unsecured business loan can give your business the financial boost it needs to move forward without compromising your cash flow.
At Lumi, we get that investing money into your business for growth can be scary because it often puts additional financial pressure before you see a return. That’s exactly why we’ve launched Lumi Payment Pause – a feature that we offer on selected term loans, which allows you to pause loan repayments for 4 weeks, interest-free, at any time your business needs it.
We designed this feature after consultation with our customers, who expressed they often wanted to make a significant change to their business such as a refurbishment or redesign, but were worried about the cash flow implications of that move. – Yanir Yakutiel, CEO & Co-Founder
While a traditional small business loan can help you fill the money gap, with Lumi Payment Pause you can get ahead by taking a 4-week interest-free break from your repayments to ease the financial pressure.
It essentially gives you the head start you need to focus on growing your business without the additional pressure of your loan repayments.
It’s really like hitting pause and fast forwarding your business if you think about it…
Here are 4 ways to fast forward your business with Lumi Payment Pause:
1. INVEST BACK INTO YOUR BUSINESS
Running a small business and making loan repayments can be a real juggle. Are you thinking about making a significant change to your business but are worried about keeping the cash flow in check?
Let’s say you’re a restaurant owner and want to do renovations. We understand that the loss of revenue when having to close the restaurant during the renovations combined with the pressure of making your loan repayments can be a big financial burden. We don’t want this to hold you back.
With Lumi Payment Pause you can fast forward your business by pausing your loan repayments and interest for 4 weeks, so you can focus on growing your business instead. Lumi Payment Pause gives you the ability to seize opportunity when it arises.
2. FINANCIAL SUPPORT ON YOUR TERMS
It can be daunting to take out a business loan because it’s a big financial commitment and lenders usually have full control over the loan terms. With Lumi’s small business loan and the Payment Pause feature you’ll get greater flexibility and control of your business loan.
You might own a construction company and you’ve just signed a big contract that requires purchasing new equipment and hiring more staff. This large upfront investment can heavily impact your cash flow while you’re awaiting payment.
With Lumi you can get access to an unsecured business term loan to take care of these upfront costs, while still maintaining a healthy cash flow, using our Payment Pause feature. Simply hit pause on your loan repayments for 4 weeks ANY TIME your business needs it.
So, whether you’re looking to scale your business or you simply need a break from your loan repayments, a Lumi loan is financial support on your terms thanks to Payment Pause.
3. PEACE OF MIND TO NAVIGATE UNCERTAINTY
We understand that things don’t always go to plan. And these unplanned events can often totally shake a small business, especially with the ongoing upheaval of COVID-19.
So whether your business has been affected by COVID or other unforeseen events and you’re struggling to get your business to where you want it to be, Lumi’s got your back!
If you’re in need of funding but are worried about committing to the loan repayments, Lumi’s got your back!
Imagine you’re a local gym owner who previously took a small business loan with another lender and are now looking to refinance your loan. You need more flexible loan terms that allow you to pause your repayments for more peace of mind in case of potential future lockdowns.
With Lumi Payment Pause you can pause repayments and interest for 4 weeks for ultimate peace of mind during these unprecedented times.
4. GET FUNDS NOW, PAY BACK LATER
The prospect of getting funding first and starting repayments later clearly puts your business ahead of the curve. If you are in urgent need of capital to grow your business faster, with Lumi Payment Pause, you can get funds now, grow your business and pay back later.
Let’s say you’re a retail small business owner and you’re looking to buy a large amount of discounted stock before an upcoming seasonal event. With Lumi’s small business loan you can not only seize the opportunity, but you can also get your business one step ahead by taking an immediate 4-week interest-free break from your repayments. This means that by the time your repayments start you will have likely generated more revenue and will therefore be in a stronger financial position when you commence repayments.
So, how can one get Lumi Payment Pause you might wonder?
Successfully apply for a Lumi term loan that’s eligible for Payment Pause
Hit pause on your repayments at any time
Enjoy a 4-week interest-free break from your repayments
If you want to read more about the Terms & Conditions of Lumi Payment Pause, check out our article “Say hi to Australia’s first interest-free Payment Pause”.
Your Lumi team