Only properties that have a transaction history on PayBridge can apply for Bridging Finance from Lulalend. This because Lulalend needs a certain amount of historical transaction data to calculate their cash advance offers.

Only properties located in South Africa can apply for Bridging Finance from Lulalend.

There are many advantages to this type of Bridging Finance over others:

The process is quick. There is no paperwork required and the whole application process can be completed from inside NightsBridge. There are no long queues or forms to complete. And the turnaround time is short. Pre-approved offers mean properties can access and receive funding within 24 hours.

Offers are guaranteed. Because  the funding amounts offered by Lulalend are based on your PayBridge  transaction data, any offers provided to you are pre-approved and  guaranteed.

Easy, flexible repayments. Properties pays back the advance when their booking payments are processed through PayBridge - a % of their booking revenue is deducted to repay the advance. The flexible repayments move in line with cashflow. This means lower repayments when booking revenue is lower and higher repayments when booking revenue increases. There is no pressure of a set monthly debit order to worry about.

Early settlement options. If a property would like to settle their advance early they can contact Lulalend to find out how much of the advance has been repaid and how much cost is left on the advance. If settled at that point, all those future costs will be waived.

No hidden costs.  There are no extra administrative, initiation or credit life fees.

No collateral is required to secure funding.

Property owners using PayBridge follow a simple five-step process.  Read the full tutorial here

Everything can be done from inside NightsBridge.

Step 1. Prepare

Properties check they have all the correct information in their NighstBridge setup.

Step 2. Log in to the Lulalend application

Properties can access the Lulalend application with one click form inside their NightsBridge system.

Step 3. Request an offer of funding

Properties consent to having their PayBridge booking data sent to Lulalend who crunch the numbers and turn that analysis into an offer of funding based on affordability.

Step 4. Review and accept the funding offer

Properties review the funding offer they are given, along with the repayment plan, then complete the agreement to access the funds.

Step 5. Receive the funding transfer

Properties receive notification of the funding deposit in their bank account, have access to the money, and can track their repayments within NightsBridge.

Lulalend's cash advance plan works differently to a standard loan with an interest rate.

Lulalend provide an offer for the amount of the cash advance and the full amount payable. The difference between the two is the cost of the funding to the property.

The cost of each individual funding offer is calculated by Lulalend based on the property's PayBridge transaction data.

NightsBridge does not have knowledge of the costs associated with any individual offers of funding made to properties by Lulalend.

You only repay when you get paid.

Repayments are made by deducting an agreed percentage from a property's PayBridge booking transactions during the repayment period. This is called the holdback rate. If the holdback rate is 10% and a transaction amount is R1000 then R100 will be deducted to repay the advance.

When a property makes a request for funding the offers they receive will show what the holdback rate will be for the repayment period.

The flexible repayments move in line with cashflow. This means lower repayments when booking revenue is lower and higher repayments when booking revenue increases. There is no pressure of a set monthly debit order to worry about.

NightsBridge does not have knowledge of the holdback rates associated with any offers of funding made to properties by Lulalend.

You might not need the money now, but are curious to see what you'd qualify for.

To get an offer, you can simply follow the first two steps in the process. By submitting your PayBridge transaction history to Lulalend you will get a response with an offer. You can decide to proceed with the actual application, or to wait until another time to complete it.

Properties are using the funding to get help with the following:

• Cash flow (when payment from Government or corporate bookings has been delayed).
• Refurbishment (upgrades to property)
• Loadshedding (generator, UPS...etc)
• Rooms (new linen, TV or technology...etc)
• Marketing (website, photography, advertising...etc)