Yes, LIMA is a Scrabble word!

Letter values in Scrabble US: L 1, I 1, M 3, A 1.

Is it a valid word?

LIMA is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

capital and largest city and economic center of Peru; located in western Peru; was capital of the Spanish empire in the New World until the 19th century

Also: capital of peru.