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Small- to medium-sized enterprise (SME) lender Lumi has increased its funding limit from $750,000 to $1 million across its Business Loan and Business Line of Credit products.
The fintech lender said the change “opens up a new tier of opportunity” for brokers and would let them support larger, more established SMEs, including acquisitions, inventory builds, and capital expenditure, without slowing down approvals or settlements.
More than two-thirds of Australian SMEs rely on a broker to access working capital, and nearly half have less than 30 days of cash on hand, according to Lumi research.
“We’ve raised our funding limit to $1 million to give our partners and clients the flexibility to back their biggest growth moves,” said deputy CEO of Lumi, Anna Hawter.
“This is a natural evolution following our limit increase to $750,000 last year and reflects our ongoing commitment to make finance more accessible for Australian SMEs.
“Whether it’s a major expansion, a capital-intensive project, or managing end-of-year obligations, our fast, flexible funding now scales with our clients’ ambitions.”
Chief commercial officer Ben Lamb added: “This isn’t just about higher limits – it’s about unlocking opportunity for brokers and their clients.
“Over the past year, we’ve seen strong demand from sectors like construction, automotive, manufacturing, wholesale, retail and professional services for our $750,000 loans and lines of credit. They told us they needed even greater headroom to seize growth opportunities – and we’ve listened.
“Our new $1 million limit applies across both our Business Loan and Business Line of Credit, giving SMEs the flexibility to choose the product structure that best fits their cash flow, while accessing the same fast, fair funding Lumi is known for. For growing businesses, that extra capacity can mean the difference between maintaining momentum and missing out on expansion.”
Speaking about how the change impacts brokers, Lumi’s head of broker, John Clifford, stated: “For seven years, we’ve partnered with brokers nationwide to support the growth ambitions of Australian SMEs. Lumi’s expanded funding limit now empowers brokers to compete – and win – in the larger, more complex deal space. It’s particularly valuable for commercial asset brokers working with growth-stage businesses in sectors like construction, wholesale, professional services, and manufacturing, where project timelines and cash flow gaps can make or break a deal.
“By combining fast approvals with flexible repayment options, we’re giving brokers a dependable path to settle high-value transactions with confidence and speed. Whether it’s funding an acquisition, purchasing fleet vehicles, or financing a large inventory order, brokers can now deliver outcomes that would traditionally sit outside the scope of non-bank lending – all while keeping clients loyal and growing under their care.”
[Related: Non-banks outperform majors for commercial loan turnaround times]