Provides unsecured business loans and lines of credit up to 750,000 with flexible repayment terms and no hidden fees, streamlining access to capital for small and medium-sized enterprises. The fully online application process delivers same-day funding decisions and funds as early as the next business day, addressing cash flow challenges and reducing reliance on traditional banking systems.
Funding
$84.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Small and medium-sized enterprises often face challenges in accessing timely and transparent funding due to lengthy application processes and hidden fees associated with traditional lending institutions. This can hinder their ability to manage cash flow effectively and capitalize on growth opportunities.
Solution
Lumi provides unsecured business loans and lines of credit designed to streamline access to capital for SMEs. Through a fully online application process, Lumi offers funding decisions within hours and can provide funds as early as the next business day. With loan amounts ranging from $10,000 to $750,000 and lines of credit up to $250,000, businesses can secure the necessary capital without the need for extensive paperwork or collateral for loans up to $300,000. Lumi distinguishes itself by offering transparent terms, no hidden fees, and options to customize loan repayments with features like Rate Ease™, Payment Pause, and Payment Holiday.
Target Audience
Lumi primarily targets small and medium-sized business owners seeking accessible and transparent financing solutions to support their growth and manage cash flow effectively.
Features
- Unsecured business loans up to $300,000 and lines of credit up to $250,000
- Fully online application process with same-day lending decisions
- Funds available as early as the next business day
- Flexible repayment terms ranging from 3 to 36 months
- No hidden fees or early repayment charges
- Customizable loan options including Rate Ease™, Payment Pause, and Payment Holiday
- Loans from $10,000
- $750,000