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Small Business Loans

Learn everything to know about our small business loans and ways to customise your loan!

Small Business Loans
Rate Ease
  • What is an unsecured business loan?

    Unlike other types of loans, an unsecured business loan doesn’t require collateral (like your home or car) to secure the loan. Instead, you’re asked for a personal guarantee to ensure you can pay back the loan.

  • How do I apply for a loan?

    Applying for a business loan with Lumi is simple and straight-forward. In fact, you can apply online right now – it only takes 10 minutes.

  • What do I need to apply for a small business loan?

    To complete your loan application, we recommend you have the following on-hand:

    ABN / ACN
    Driver's License
    Business bank account details (for online banking)

    You can even link-up your cloud accounting software to complete the application, or we also accept your accounting statements as PDFs. If we require additional accounting information, one of our team members will be in touch.

  • What are the minimum requirements to apply?

    To qualify, you just need to be running an Australian-registered business which has been in operation for at least 6 months, producing a minimal annual turnover of $50,000.

  • What is the duration of the loan?

    Our loans carry repayment periods of 3 – 18 months, however the majority are usually paid off in 6 months.

  • How is a Lumi loan different to a traditional loan?

    Our loans are totally transparent, meaning there’s no hidden fees or charges. You can apply online in under 10 minutes and receive an application outcome within the same day. If approved, your funds will be funded into your nominated bank account the same business day. Our loans are also unsecured, meaning we don’t require collateral (such as your home) to approve your funding.

  • Does it cost to apply?

    It costs nothing to fill in our loan application form and you can apply as often as you’d like. Just keep in mind that applying for a loan more than once every 3 months could hurt your credit score.

  • How quickly can I receive the funds once approved?

    As soon as your application is approved, you can expect your funds to be deposited into your nominated bank account the same business day.

  • Can I still apply if I have bad credit?

    Unlike some traditional lenders, your credit score isn’t the most important factor in whether we approve your business loan. We take a number of factors into account to determine if you’re eligible for small business funding. As a responsible and trusted lender, we won’t lend to businesses who we believe are not in a financial position to repay their loan successfully.

  • What are the fees?

    As a lender who prides itself on total transparency, we can promise no hidden fees. We simply charge a 2.5% establishment fee that is deducted at settlement. After this, your weekly repayments will be calculated upfront, with the same amount being deducted from your nominated account each week. No shock, no surprises.

  • What types of small businesses does Lumi lend to?

    We provide unsecured funding to small-medium enterprises, ranging across multiple industries. These include retail, hospitality, trades and labour, health and wellness, franchises, and professional services (just to name a few).

  • What can a Lumi loan be used for?

    You can use your funds for almost anything relating to your business. Here’s just a few ideas:

    • Purchasing inventory or new equipment
    • Supporting cash flow
    • Acquiring new staff
    • Moving to a new premise
    • Marketing
  • How is interest charged?

    Because our loans are repaid within a shorter time frame (usually in 6 months), we don’t believe in using an annualised interest rate to describe our loans. Instead, we provide you with your entire repayment amount upfront, including what your weekly payments will be. This ensures total transparency and no hidden fees for our customers.

  • What will my weekly repayment be?

    Your weekly repayment amount will be determined by the amount you’re borrowing, as well as your repayment period. This amount will be disclosed to you before you sign-off on your loan, so you’ll never be kept in the dark. You can even use our loan repayment calculator to see what your weekly repayment will look like before you apply for your loan.

  • Are there any penalties for repaying the loan early?

    You can choose to repay the entire outstanding amount of your loan early, at any time. When you repay the remainder of your loan early, we may provide you with a discount on the remaining interest. This level of discount will vary, depending on how far into the loan term you are. There are no penalties for early repayment. Please give us a call on 1300 005 864 so we can discuss your early repayment.

  • What if I can’t make a repayment or if I fall behind?

    If you’re unable to make your repayments or are experiencing financial hardship, please contact us ASAP so we can discuss a solution with you.

  • How many business loans can I take out at one time?

    We recommend that businesses only take out one loan at a time, however if you believe your venture requires additional funding, please get in touch.

  • Can the loan amount be changed at any time?

    If you wish to increase your loan at any point, you may be able to do so. Please contact us so we can make any necessary adjustments.

  • Will my information be protected with Lumi?

    You bet. We pride ourselves on being transparent about how we collect, use, exchange and protect your information. Our team are passionate about using advanced and trusted cyber security and data protection to ensure your personal and financial details are kept safe.

  • show question hide question Am I eligible for Rate Ease?™

    Firstly, well done for making the decision to take your business to the next level. Generally speaking, if you are eligible for a Lumi Small Business Loan of at least $25,000 at an interest rate of 29% or higher, you might also be eligible for Rate Ease depending on the loan terms offered to you. Feel free to call us on 1300 005 864 or send us an email to Also check out our general Terms & Conditions for Rate Ease here

  • hide question How much will my interest rate decrease?

    How much your rate will drop depends mostly on your loan term, including the approved interest rate and length of your loan.

    If you already have a loan with us, get in touch with your Account Manager and they'd be more than happy to provide you with your Rate Ease™ reduction schedule.

    If you're looking to apply for a Lumi Loan including Rate Ease, call us on 1300 005 864 or send us an email to, so we can help you with your application.

  • show question hide question How long will my rate be lowered for?

    Congrats! If your loan got approved with the Rate Ease™ benefit and you've made 4 consecutive repayments, your interest rate will be dropped every month for a maximum of 12 months or for as long as you make your repayments on time.

  • show question hide question How do I activate my Rate Ease™ benefit?

    No need to activate anything. The beauty of Rate Ease™ is that it's that easy. We'll automatically drop your rate every month, starting from month 1, after you've made 4 consecutive repayments, so you can start saving straight away. Your rate will then continue to drop every month for a maximum of 12 months or for as long as you stay up to date with your repayments.

  • show question hide question What if I miss a loan payment? Do I still get my Rate Ease™?

    Customers are only able to receive rate decreases if repayments are made on-time, every-time. If you miss a payment or are late in making a payment, you will be able to keep your existing rate, but you will not be able to access any further decreases, even if you catch up.

Got more questions? We'd love to hear from you.

Call us now 1300 005 864