What Documents Are Required?
| Document | Required? |
|---|---|
| SA business registration certificate | Yes (may be checked electronically) |
| 3 months bank statements OR account linking | Yes (one or the other) |
| Director ID / passport | Yes |
| Proof of business address | May be requested |
| Financial statements | Not typically required for standard applications |
Requirements to Qualify
- Business registered and trading in South Africa
- Minimum 1 year of trading history
- Annual revenue of R500,000 or more
- Business and/or director credit record in good standing
- Active South African business bank account
Common Reasons for Decline
- Business trading for less than one year
- Annual revenue below R500,000
- Adverse credit history (significant defaults or judgements)
- Incomplete or inconsistent financial information
- Business operating in a restricted industry
Tips for a Successful Application
- Use the account linking option — it is faster and provides Lula with more accurate data, which can improve your quote.
- Ensure your bank account reflects consistent, regular revenue deposits.
- Apply during business hours (Mon–Fri) to receive same-day assessment.
- Have your company registration number and director ID number on hand before starting.
- Be realistic about the funding amount — applying for an amount proportionate to your monthly revenue increases approval likelihood.