Lumi Refinancing Loan
Xero account 503 Lumi Re-financing Loan, non-current liability. Balance $144,890.81 Cr as at 8 Apr 2026. Source of truth for the full draw history and analysis is Loan Accounts Diagnostic — this page is the summary anchor for incoming links.
Key Facts
- Originated 28 Mar 2024 ($99,000) to pay out the Square Capital loans; grew through five further draws/extensions to $280,889.79 total borrowed (largest: $109,585.32, Apr 2025).
- Repaid $135,998.98 to 8 Apr 2026 via weekly repayments ($889.84/week, later $1,603.63/week).
- Repayments are coded entirely to 503 with no principal/interest split — interest expense is understated. Obtaining the Lumi loan schedule and setting up a split bank rule is a Phase 3 action in Xero Corrections Approved.
- Payment processor renamed from “Lumi” to “Zai Australia” (Lumi’s infrastructure provider) around Nov 2025.
- No Xero correction required for the account itself — it records actual loan activity correctly (Loan Accounts Diagnostic, Apr 2026).
Related Pages
- Loan Accounts Diagnostic — full facility evolution table, observations, and action items for Mat
- Xero Corrections Approved — Phase 3 covers the principal/interest bank rule