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Your business lending clients have nothing to lose – except interest
The team at Lumi understand that running a small business has just become a bit harder with the current interest rate uncertainty. The Lumi Lux™ product has been created as their response to boost certainty for businesses and reward SMEs for good repayment behaviour.
Instead of interest rates rising, with Lumi Lux™, the interest rates decrease by 25 basis points every six months when repayment promises are kept. For example, a loan with a starting interest rate of 20% will decrease to 19.75% six months after the settlement date and to 19.50% at 12 months.
Lumi Lux™ secured rate-reducing business loans range from $200K to $500K, with interest rates from 14% to 20% (APR) where Lumi and the business owner both swipe right. They’re also getting more serious about long-term relationships, so they have extended the loan term up to 4 years.
Let’s be honest
Lasting relationships require honest communication. That’s why you need to know the APR (annual percentage rate), not the simple interest rate. The Lumi Lux loan rates range from 14% to 20% – depending on years in business, annual revenue and other factors. The establishment fee is 3.5% of the disbursed amount.
Ready to play matchmaker?
Here’s the Lumi partner brochure, which includes the Lumi Lux matrix.
If you have business clients who you believe will be a match, Lumi is ready to have a chat. In addition to the Lumi Relationship Manager, you will also have direct access to a specialist Credit Assessor to workshop applications or discuss applications submitted.
If you’re not sure if you are compatible, get in touch with the team at Lumi to talk it over.
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For any questions please reach out to your BDM.