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Payment Holiday

Get funds now, pay back later

Borrow $5,000-$500,000 and only start making repayments up to 6 weeks later.
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Business funding your way

Business funding your way

In need of a business loan but want to keep some flexibility with your loan repayments?

Lumi’s Payment Holiday might just be the strategic break your business needs from your loan repayments.

It’s available for eligible business loan customers* and can be taken for up to 6 weeks at the start of your loan.

*Read the full Terms & Conditions here.

Why you’ll love our Payment Holiday

Keep the cash in your business

Take up to 6 weeks off your loan repayments, so you can use the extra cash for your business

Take the pressure off ongoing costs

By using Payment Holiday to temporarily relieve your business costs

Stay flexible

Manage your Business Loan repayments on your terms to suit your business’s needs

Here's how it works:


Step 1

Check if you’re eligible for a Lumi Business Loan with Payment Holiday


Step 2

Apply in minutes here. Once approved, funding is possible in 24 hours


Step 3

Enjoy a 6-week Payment Holiday and invest the extra cash back into your business

Are you ready to apply for business funding?

You’re only a few online steps away from submitting your business finance application with Lumi.

Tick the boxes to check if you’re ready to apply.

Min 6 months in business
Active ABN or ACN
Min $5,000 monthly revenue

Receive a lending decision within just a few hours

What are the Terms & Conditions for the Payment Holiday?

  • Eligibility for Payment Holiday remains subject to our general terms and credit criteria.
  • Applies to new term loans only.
  • Interest accrues during the repayment holiday and is capitalised prior to repayments commencing.
  • Once repayments commence they will continue weekly for the agreed loan term.
  • Total loan terms, including 6-week repayment holiday, will be 58 or 84 weeks depending on the agreed loan term.

How Can You Benefit from a Small Business Loan

There are a number of business-related expenses that a small business loan can be used for, including:
Purchasing equipment
Maintaining inventory
Managing daily expenses
Paying employee wages
Hiring additional staff
Moving to another business location
Product development
Marketing and promotions

Often, a small business owner will want to invest in these areas to help their business grow, but find the idea of dipping into their cash flow quite daunting. This is where a business loan comes in handy, as it gives you a quick injection of cash to fund your growth, which you simply pay back in small amounts at regular intervals.

Popular Types of Small Business Loans

While there are plenty of different small business loans on offer, not every type will be suited to your needs. Below, we’ve listed two of the most versatile and popular small business loans to provide some more information.

Unsecured Business Loans: An unsecured business loan is a flexible and convenient way to get the finance you need, as you don’t require collateral to obtain the loan. Collateral is something that you or your business owns that you pledge as security for repayment, i.e. your home, vehicle, inventory, etc. Instead, the loan is issued and supported based on your creditworthiness. Therefore, unlike secured business loans, a lender cannot seek repayment by going after your assets. Unsecured business loans are also designed to be easy to obtain, plus you can expect a quick application and approval process - usually within a few hours. (Read more)

Short Term Business Loans: Short term business loans can be secured or unsecured, but their main difference when compared to the other types of loans is their payment terms and borrowing capacity. Payment terms usually range from 3 to 12 months, while loan amounts are often between $5,000 and $100,000. Due to their shorter payment terms and smaller borrowing capacity, small business owners may find short term loans much easier to apply for and obtain than long term finance. (Read more)

The 5 Components of a Small Business Loan

Small business loans are pretty straightforward, but there are 5 important components that you need to be aware of:

Principle: This refers to the total amount being borrowed

Interest rate: The rate (%) at which you will repay your loan to the lender

Term: The length of your loan

Repayment frequency: How frequently you must make your repayments i.e. daily, weekly, monthly

Fees or Charges: Additional expenses you must pay on your loan. Your lender should always be upfront about these

Why Choose Lumi for Your Small Business Loan?

Here at Lumi, we provide you with the best of both worlds. Not only are our business loans unsecured, but they also take place on a short term basis, with terms of 3 - 18 months. We offer loan amounts of $5,000 to $500,000, giving your small business the quick injection of cash it needs to thrive.

As a small business ourselves, we know just how valuable and limited your time is, which is why we also offer a fast and simple application process that can be completed online within just minutes. Once approved, your funds will be deposited the following business day, helping you put it to good use ASAP.

How to Apply for a Small Business Loan

If you’re an Australian-registered business who has been in operation for at least 6 months producing a gross annual turnover of $50,000 or more, then you’re eligible to apply for a small business loan with Lumi.

To complete your loan application online, click here to get started. You’ll just need the following on-hand to complete your application:

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

Got more questions about your loan?

Call us now 1300 005 864