Where does Lendr do business?
Lendr is a direct lender based in Chicago, IL. It was founded in 2011 and offers access to business loans in 50 states (and Washington, DC).
What are Lendr’s rates?
Lendr offers business loans with fixed APRs starting from 15% to 99%.
Does Lendr charge an origination fee?
Yes, Lendr charges a loan origination fee.
What limitations does Lendr set on the purpose of the loan?
Lendr considers loan applications for business purposes, such as:
What types of business loans does Lendr offer?
Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Lendr provides access to the following business loan types:
- Merchant Cash Advances
- ACH Cashflow Loans
Does Lendr charge prepayment fees?Yes, Lendr 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.
What do you need to qualify for a loan with Lendr?
Applicants with a credit score of at least 520 can apply for a loan via Lendr. Lendr requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $10,000.
Only U.S. citizens and permanent residents can apply for a loan Lendr only considers borrowers who are employed or self-employed. To qualify, applicants may need to provide the following documentation:
- Business Formation Documents
- Proof of Income
What is the estimated funding time for a business loan via Lendr?
Lendr can approve (or deny) a loan application within 24 hours and fund business loans within 2 business days of approval.
153 W Ohio St
Chicago, IL 60654 USA
- Visit Site
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia
|Credit Score Range||
520 - 850
850 300 520
|Immigration Status Considered||
|Employment Statuses Considered||
|Minimum Months in Business||12|
|Verification Documents Required||
|Loan Amount||Up to $300K|
|Loan Term (Months)||Starting at 4|
|APR||15% - 99%|