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Lendr

in Business Loans

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Lendr

Unaffiliated

in Business Loans

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Overview

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 APRs starting from 15% .

Does Lendr charge an origination fee?

Yes, Lendr charges a loan origination fee. 

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

Some lenders only provide business loans for certain purposes. Lendr 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 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

Does Lendr charge a late fee?

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

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 businesses to be in business for at least 12 months in business. Active duty servicemembers and their covered dependents are eligible to apply for a loan via Lendr. Its rates and terms fall within the limits of The Military Lending Act.

Only U.S. citizens and permanent residents can apply for a loan.

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

  • 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.

SUPERMONEY Disclosure: SuperMoney.com 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...

Contact

  • Headquarters
  • 153 W Ohio St
    5th Floor
    Chicago, IL 60654 USA
  • Visit Site

Availability

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

Minimum Months in Business
12
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Credit Score Range
520 - 850
850 300 520
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Minimum Revenue
$10,000
Verification Documents Required
  • Business Formation Documents
  • Proof of Income
Loan Term (Months)
Starting at
4
Loan Amount
Up to
$300,000
APR
Starting at
15%

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