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A banking platform to simplify financial management for SMEs


There’s a less complicated approach to keep on prime of cashflow and your small business’s funds 

Last up to date: Monday, 23 May 2022

Cash circulation could make or break a small enterprise. Understanding it and managing it effectively is essential to the well being of an SME and, in truth, the sanity of the enterprise proprietor. 

Entrepreneurs are hungry for options to simplify monetary administration. A brand new business-banking platform, began solely for SMEs and entrepreneurs, lastly presents the precise assist that homeowners want on their financial-management journey and enterprise development.


SMEs, like Leon van Vuuren’s, proprietor of Optique Optometrists, make use of as much as 60% of the personal sector workforce in South Africa, says a McKinsey research. Image: Lulalend

GET BANKING SERVICES DESIGNED FOR SMES

In 2022, SMEs made up 98% of all companies in South Africa, says a McKinsey research. These companies, in flip, make use of as much as 60% of the private-sector workforce and make up for about 40% of the nation’s GDP.

Our nation’s financial improvement partly depends upon the success and development of our SMEs. Yet it’s a continuing battle for small companies to get an overdraft rapidly, unlock funding or entry basic assist from conventional monetary establishments. 

“In South Africa as a small business, you’ve got to jump through hoops to get funding from anywhere. The banks talk a big talk, they don’t walk that talk,” says Jennifer Classen, founding father of 12-year-old procurement and sourcing firm Ngaphaya Y2K10. 


SMEs make up 98% of all companies within the nation, however they get little or no love from conventional banks. Image: Lulalend

DO YOU EXPERIENCE THESE 5 FINANCIAL PAIN POINTS?

There are 5 widespread complications SMEs expertise: High charges; lengthy, painful funding-application processes; dangerous customer support; laborious account-opening processes that require your bodily presence within the department (within the age of digital!); and no instruments or steerage to assist the enterprise make higher monetary choices.

GET EARLY ACCESS TO THE SOLUTION

SMEs, from start-ups to established companies, can now be notified when the brand new banking platform, designed to deal with the commonest challenges, launches.  

Lula is targeted on fixing all of the above ache factors that each one small enterprise homeowners complain about. The enterprise banking platform is a product of Lulalend, the small-business funder launched in 2014, and which has been a sport changer for companies due to its quick, environment friendly and pain-free, funding course of.


Lula is designed particularly for SMEs of every kind, from start-ups to established companies trying to develop. Sign as much as get early entry. Image: Lulalend

YOU DON’T WANT HIGH FEES

Cost for this. Costs for that. Where is that this value coming from? 

Lula brings transparency. Customers could have the choice of a zero month-to-month value account, or a premium account that can embody limitless free EFT transactions and card swipes. 

Across each account varieties prices will probably be very aggressive in comparison with different banks’ – Lula’s providers are provided at cost-price. All charges and prices will probably be clear and brazenly shared. No surprises! 


Cashflow is king for a small enterprise, says Willem Haarhof, co-founder of DoughGetters Accounting Group. Image: Lulalend

 

YOU NEED INSTANT ACCESS TO FUNDING

Why ought to it take 6 months to get an overdraft? 

Through Lula, enterprise homeowners could have on the spot entry to enterprise funding – as much as R5 million. All purposes are accomplished on-line, inside 10 minutes, no have to bodily go to a department.

“Cash flow is probably the most important ingredient in business,” says Willem Haarhof, co-founder of DoughGetters Accounting Group. “That is where Lulalend has been a revelation in our business.”


Phaedon Gourtsoyannis, founding father of Cape Coffee Beans, says discovering somebody who will help you consider cashflow early and as you develop is essential. Image: Lulalend

 

YOU WANT HUMAN-CENTERED SUPPORT + TOOLS

Traditional banking establishments are notoriously gradual, impersonal and ineffective when servicing their clients. No one appears invested in your journey as an proprietor, and it’s widespread to be handed round departments earlier than even a easy downside is resolved. 

There will probably be actual people to speak to at Lula; dwell chat for fast responses to all clients; queries, e mail or in any other case will probably be resolved in 24 hours. 

You’ll even have assist you to make higher enterprise choices: Like with the ability to see your money circulation in a single place and get alerts for funds due.

Premium account holders will get a devoted customer-experience supervisor, a one-stop store the place they’ll get all their queries and points resolved.

GET EARLY ACCESS: TAKES 1 MINUTE

Lula is designed to assist all South African small enterprise homeowners:

  • Sole proprietorships
  • Start-ups
  • Registered small companies; and
  • Established companies trying to develop

Get early entry. It takes 1 minute to get early entry – enroll.

HELPING SMALL BUSINESSES GROW

CapeTownMagzaine.com helps SMEs by that includes – and activating – a brand new enterprise each week by way of the New Places Project.

In 2021, we partnered with Lulalend on the Small Business Spotlight.

Where you could possibly nominate a small enterprise you respect to win interest-free funding.

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