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Where does LenCred do business?

LenCred is  a lending platform based in Blackwood, NJ. It was founded in 2001 and offers access to business loans in 50 states (and Washington, DC).

What are LenCred’s rates?

LenCred offers business loans with APRs starting from 0% and up to 20%.

Does LenCred charge an origination fee?

Yes, LenCred charges a loan origination fee of 6% to 8% of the loan amount up to 5000. LenCred deducts the fee directly from your loan amount before depositing your money, so make sure you take this fee into account when deciding how much you need to borrow. 

What limitations does LenCred set on the purpose of the loan?

Some lenders only provide business loans for certain purposes. LenCred offers considers loan applications for the following reasons:

  • Equipment purchase
  • New location
  • Product or service expansion
  • Working capital
  • Business debt refinance

What types of business loans does LenCred offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. LenCred provides access to the following business loan types:

Does LenCred charge a late fee?

No, LenCred will not charge you a late fee. Yes, LenCred charges borrowers with a late payment fee.

Does LenCred charge prepayment fees?

Yes, LenCred charges additional fees to borrowers who pay off their loans sooner than anticipated. Take this into consideration when choosing a lender because prepayment penalties can reduce or even cancel the interest savings of repaying a loan early.

How much can you borrow from LenCred?

Loan amounts start at $25,000 and go up to $200,000.

What do you need to qualify for a loan with LenCred?

Applicants with a credit score of at least 670 can apply for a loan via LenCred.

LenCred does not require borrowers to have been in business for a minimum number of years. Active duty servicemembers and their covered dependents are eligible to apply for a loan via LenCred. Its rates and terms fall within the limits of The Military Lending Act.

Only U.S. citizens can apply for a loan.

To qualify, applicants may need to provide the following documentation:

  • Driver's license

What is the estimated funding time for a business loan via LenCred?

LenCred can provide a credit approval decision in less than an hour and fund the loan within 5 business days.

Does LenCred report loan payments to credit bureaus?

LenCred may report credit data to the following credit reporting agencies:

    SUPERMONEY Disclosure: is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...


    • Headquarters
    • 602 Little Cloucester Rd
      Suite 8
      Blackwood, NJ 08012 USA
    • Visit Site


    Available in 50 States and Washington, DC
    • Alabama
    • Alaska
    • Arizona
    • Arkansas
    • California
    • Colorado
    • Connecticut
    • Delaware
    • Washington, DC
    • Florida
    • Georgia
    • Hawaii
    • Idaho
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Louisiana
    • Maine
    • Maryland
    • Massachusetts
    • Michigan
    • Minnesota
    • Mississippi
    • Missouri
    • Montana
    • Nebraska
    • Nevada
    • New Hampshire
    • New Jersey
    • New Mexico
    • New York
    • North Carolina
    • North Dakota
    • Ohio
    • Oklahoma
    • Oregon
    • Pennsylvania
    • Rhode Island
    • South Carolina
    • South Dakota
    • Tennessee
    • Texas
    • Utah
    • Vermont
    • Virginia
    • Washington
    • West Virginia
    • Wisconsin
    • Wyoming

    Feature Breakdown

    Origination Fee ($)
    $0 - $5,000
    Origination Fee
    6% - 8%
    Military Status
    • Active Duty Military
    • Military Dependent
    • Non-Military
    • Veterans
    Credit Score Range
    670 - 850
    850 300 670
    Immigration Status Considered
    • U.S. Citizen
    Employment Statuses Considered
    • Employed Full-Time
    • Employed Part-Time
    • Other
    • Retired
    • Self-Employed
    Verification Documents Required
    • Proof of Identity
    • Proof of Residence
    • Driver License (or other photo ID)
    Loan Amount
    $25K - $200K
    $25 $1M+
    Up to

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