Based on recent customer reviews, Lula has drawn consistent criticism from South African small business owners. Feedback centres on prolonged platform outages that left business accounts unable to transact, blocked cards held with compliance without explanation, and persistent login faults. Borrowers describe steep interest loaded into early repayments, unwillingness to restructure struggling accounts, and advertised credit lines that could not be drawn down. Repeated six monthly credit enquiries and staff attitude also frustrated clients. The few nods to quick approval were outweighed by weak support and poor communication.
TrustIndex
2
NPS Score
-100
Recommended: Unlikely
Dec '25 - Nov '26
Frequently Asked Questions About Lula
What do customers say about Lula?
Based on recent customer reviews, Lula has drawn consistent criticism from South African small business owners. Feedback centres on prolonged platform outages that left business accounts unable to transact, blocked cards held with compliance without explanation, and persistent login faults. Borrowers describe steep interest loaded into early repayments, unwillingness to restructure struggling accounts, and advertised credit lines that could not be drawn down. Repeated six monthly credit enquiries and staff attitude also frustrated clients. The few nods to quick approval were outweighed by weak support and poor communication.
Is Lula trustworthy?
Lula has a TrustIndex of 2 out of 10 on Hellopeter, based on 14 reviews in the last 12 months. Hellopeter has tracked Lula across 65 total reviews. How is the TrustIndex calculated? →
Recent reviews (14)
Used this business recently? Share your experience to help others decide.
Used this business recently? Share your experience to help others decide.
Share Your Experience1 reviews | Active since May 2016
What a waste of time and energy to deal with Lula
Stay away from this company. I contacted them for a business loan and they wanted 3 months bank statements which is reasonable. I got the *** and attached the 3 months bank statements that was downloaded from the bank. They replied back: -To bypass the paperwork and speed up your approval, we highly recommend using our secure TruID integration. It's safe, instant, and gets your data to us automatically. Link - share your bank statements. -How it works (in less than a minute): Click the link above and select your bank. Log in securely using your online banking credentials (they are never stored). Confirm your consent to share your statement data. So when you click the link you select your bank and SIGN IN WITH YOUR PIN AND PASSWORD. NO - I AM NOT DOING THAT!!! If that was not enough you if your accountant is using XERO you can also lock in and give them access??? What a waste of time. Companies/people can not think ANYMORE they are totally reliant on a computer or artificial intelligence to think for them.
1 reviews | Active since May 2016
What a waste of time and energy to deal with Lula
Stay away from this company. I contacted them for a business loan and they wanted 3 months bank statements which is reasonable. I got the *** and attached the 3 months bank statements that was downloaded from the bank. They replied back: -To bypass the paperwork and speed up your approval, we highly recommend using our secure TruID integration. It's safe, instant, and gets your data to us automatically. Link - share your bank statements. -How it works (in less than a minute): Click the link above and select your bank. Log in securely using your online banking credentials (they are never stored). Confirm your consent to share your statement data. So when you click the link you select your bank and SIGN IN WITH YOUR PIN AND PASSWORD. NO - I AM NOT DOING THAT!!! If that was not enough you if your accountant is using XERO you can also lock in and give them access??? What a waste of time. Companies/people can not think ANYMORE they are totally reliant on a computer or artificial intelligence to think for them.
1 reviews | Active since Jul 2012
Just not there to help you - leaches on your cashflow.
This is less of a review and more like a public service announcement. These guys are not there to help small businesses; they are loan sharks who keep you having to draw down from their facilities as you cannot afford the effective 108% interest rate (and yes this is legal - due to them lending to businesses and not individuals). Its impossible to pay back on their terms, so you keep borrowing to fund the repayments as it decimates your CASH FLOW and cash flow is the usual reason that businesses borrow money. There are so many better options in this space. This one is the WORST. I am free on them now and it feels like I took a noose off my neck.
1 reviews | Active since Jul 2012
Just not there to help you - leaches on your cashflow.
This is less of a review and more like a public service announcement. These guys are not there to help small businesses; they are loan sharks who keep you having to draw down from their facilities as you cannot afford the effective 108% interest rate (and yes this is legal - due to them lending to businesses and not individuals). Its impossible to pay back on their terms, so you keep borrowing to fund the repayments as it decimates your CASH FLOW and cash flow is the usual reason that businesses borrow money. There are so many better options in this space. This one is the WORST. I am free on them now and it feels like I took a noose off my neck.
1 reviews | Active since Mar 2009
Misleading
Biased and misleading. I've had funding through them for a long time yet now when I need the funding for an important event (to grow the business), it is every excuse in the book. I've known about the event for a while as I needed to purchase equipment for it (and get the necessary inspections/safety approvals), and Lula was fully aware of this. I was advised to wait until mid September as our winter period was quieter than usual due to floods and major Eskom outages. Did the application for *** yet the system showed *** application which was declined due to affordability - well at *** above what I requested I was not surprised - but they won't hear an appeal. I'm currently paying *** twice a month, yet the new installment would be lower than this and still no. I cannot fathom their logic - If *** per month installment is paid, and the new amount would be less, then how can it be unaffordable? Now I am forced to cancel the event at short notice as I cannot get the equipment, and pay penalties. Lula is damaging my business for which I am certainly far from impressed!
1 reviews | Active since Mar 2009
Misleading
Biased and misleading. I've had funding through them for a long time yet now when I need the funding for an important event (to grow the business), it is every excuse in the book. I've known about the event for a while as I needed to purchase equipment for it (and get the necessary inspections/safety approvals), and Lula was fully aware of this. I was advised to wait until mid September as our winter period was quieter than usual due to floods and major Eskom outages. Did the application for *** yet the system showed *** application which was declined due to affordability - well at *** above what I requested I was not surprised - but they won't hear an appeal. I'm currently paying *** twice a month, yet the new installment would be lower than this and still no. I cannot fathom their logic - If *** per month installment is paid, and the new amount would be less, then how can it be unaffordable? Now I am forced to cancel the event at short notice as I cannot get the equipment, and pay penalties. Lula is damaging my business for which I am certainly far from impressed!
1 reviews | Active since Jun 2026
********** experience using Lula to fund one of my businesses
********** experience using Lula to fund one of my businesses. After 3 years of technical issues with my login. I was told it had been sorted. When trying to login again and finding its still broken. No one cares enough to actually help you and fix the problem. Wouldn't recommend using them if you need a small business loan based of their terrible customer service and technical service
1 reviews | Active since Jun 2026
********** experience using Lula to fund one of my businesses
********** experience using Lula to fund one of my businesses. After 3 years of technical issues with my login. I was told it had been sorted. When trying to login again and finding its still broken. No one cares enough to actually help you and fix the problem. Wouldn't recommend using them if you need a small business loan based of their terrible customer service and technical service
1 reviews | Active since Sept 2018
Feels like a loan shark
They don't explain things very nicely, quick to give you money and then hit you hard with all their interest in the first 6 payments. Are not interested in helping to spread the interest or restructure the loan to assist a business that has lost customers recently. Just 5 days to come up with the money or they gonna come for me.
1 reviews | Active since Sept 2018
Feels like a loan shark
They don't explain things very nicely, quick to give you money and then hit you hard with all their interest in the first 6 payments. Are not interested in helping to spread the interest or restructure the loan to assist a business that has lost customers recently. Just 5 days to come up with the money or they gonna come for me.
1 reviews | Active since Oct 2025
Taking long
After doing a application yesterday still no feedback on approval???heard they are quick??? Will give it sometime as they say it can take up to 24 hrs. But don't think they will make it in that time.
1 reviews | Active since Oct 2025
Taking long
After doing a application yesterday still no feedback on approval???heard they are quick??? Will give it sometime as they say it can take up to 24 hrs. But don't think they will make it in that time.