Terms of Service

1. Introduction

1.1 Lumo Money is operated by Lumo Finance Ltd, registered in England and Wales under company number 12345678, with its registered office at 45 Charlotte Street, Manchester, M1 4FD (hereinafter, “Lumo Money”, “we”, “us”, or “our”).

1.2 Lumo Money provides online financial products and services to UK-based small and medium-sized businesses, including business loans, working capital facilities, and related financial tools (collectively, the “Lumo Platform”).

1.3 These Terms apply to all business entities, limited companies, sole traders, and authorised representatives (collectively, “Customers”) who use the Lumo Platform. These Terms do not apply to consumers acting for personal, family, or household purposes.

2. Definitions

2.1 Customer – The legal entity, partnership, or individual in business who applies for or uses Lumo Money’s services.

2.2 User – A person authorised by the Customer to access the Lumo Platform or communicate with us on the Customer’s behalf.

2.3 Platform – The website, digital tools, and loan management systems operated by Lumo Money.

2.4 Services – The financial products, online tools, and support provided by Lumo Money.

2.5 Loan Agreement – A separate contract that governs the terms of any approved funding.

2.6 Support Services – Assistance provided by Lumo Money through email, chat, or other support channels.

3. Scope of Application

3.1 These Terms govern access to and use of the Lumo Platform and related Services.

3.2 Specific lending products are subject to additional agreements, including the Loan Agreement and accompanying documentation, which take precedence over these Terms in case of conflict.

3.3 By using the Platform, the Customer agrees to these Terms and confirms they are acting for business purposes.

4. Subject of the Contract

4.1 Lumo Money provides Customers with access to apply for business loans and manage active agreements through the Platform.

4.2 Access to the Platform does not guarantee approval for credit or any financial product. All lending decisions are subject to underwriting, affordability checks, and regulatory compliance.

4.3 The Platform and related materials are provided as hosted online services only. No transfer of intellectual property or ownership takes place.

5. Services of Lumo Money

5.1 Lumo Money offers business lending products, credit evaluation, loan management tools, and ongoing customer support.

5.2 We use reasonable efforts to maintain continuous availability of our Platform but do not guarantee uninterrupted access. Planned maintenance or upgrades may cause temporary interruptions.

5.3 Lumo Money may modify, improve, or update the Platform and Services at any time to enhance functionality, meet legal obligations, or improve customer experience.

5.4 Lumo Money does not provide legal, tax, or accounting advice. Customers are solely responsible for their own financial and tax decisions.

6. Fees and Payment

6.1 Fees, interest rates, and repayment terms are outlined in each Customer’s Loan Agreement.

6.2 Customers agree to make all payments in full and on time using the methods specified.

6.3 Late or missed payments may incur charges as set out in the applicable Loan Agreement and may impact creditworthiness.

6.4 Lumo Money reserves the right to adjust fees or charges in line with legal or market changes, providing reasonable notice where applicable.

7. Customer Obligations

7.1 Customers must ensure all information provided during application or use of the Platform is true, accurate, and complete.

7.2 Customers must not use the Platform for fraudulent, illegal, or misleading purposes.

7.3 Login credentials and account access must be kept secure. Lumo Money will never request passwords via email.

7.4 Customers must notify Lumo Money immediately if they suspect unauthorised access or data compromise.

7.5 Customers are responsible for maintaining appropriate systems and internet connectivity to use the Platform.

8. Term and Termination

8.1 Access to the Platform remains active until terminated by either party.

8.2 Either party may terminate access with notice, subject to the completion of any active agreements.

8.3 Lumo Money may suspend or terminate access immediately if a Customer breaches these Terms, engages in unlawful behaviour, or risks the security of the Platform.

8.4 Upon termination, Customer data may be retained for regulatory or compliance purposes in line with our Privacy Policy and legal obligations.

9. Data Protection and Confidentiality

9.1 Lumo Money processes personal and business data in accordance with the UK General Data Protection Regulation (UK GDPR) and the Data Protection Act 2018.

9.2 Details on how we collect, use, and store information are available in our Privacy Policy.

9.3 Both parties agree to treat all confidential information as strictly confidential and use it only for the purpose of fulfilling these Terms.

10. Liability

10.1 Lumo Money provides access to the Platform and Services “as is” and makes no warranty regarding uninterrupted availability or suitability for any particular purpose.

10.2 We shall not be liable for indirect, special, or consequential damages, including loss of profit, business interruption, or data loss.

10.3 Lumo Money’s total liability in connection with these Terms shall not exceed the total fees or interest paid by the Customer within the previous 12 months.

10.4 Nothing in these Terms excludes liability for fraud, wilful misconduct, or injury to life, body, or health.

11. Amendments to Terms

11.1 Lumo Money may amend these Terms from time to time to reflect changes in law, technology, or the scope of our Services.

11.2 Material changes will be communicated to Customers at least 30 days before taking effect.

11.3 Continued use of the Platform after such changes will be deemed acceptance of the revised Terms.

12. Governing Law and Jurisdiction

12.1 These Terms are governed by and construed in accordance with the laws of England and Wales.

12.2 The courts of England and Wales shall have exclusive jurisdiction over any disputes arising out of or in connection with these Terms, except where required otherwise by applicable law.

13. Final Provisions

13.1 If any provision of these Terms is found invalid or unenforceable, the remaining provisions remain in full force and effect.

13.2 Failure or delay by Lumo Money to enforce any right or provision under these Terms shall not constitute a waiver of such right.

13.3 Customers may not assign or transfer their rights or obligations under these Terms without prior written consent from Lumo Money.

13.4 These Terms, together with any Loan Agreement or supplementary document, constitute the entire agreement between the Customer and Lumo Money.