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  Lendr Merchant Cash Advance

Lendr Merchant Cash Advance

in Business Loans from Lendr

Unaffiliated

Lendr Merchant Cash Advance

Unaffiliated

in Business Loans from Lendr

Net Recommendation Score -100% Recommendation score measures the loyalty between a provider and a consumer. It's at +100% if everybody recommends the provider and at -100% when no one recommends.

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Highlights
Highlights
Community Rating

Rating not yet determined

In our efforts to provide the community with the most accurate information, recommendation rating is not determined until a sufficient number of SuperMoney users cast their vote
Loan Amount Up to $300,000
APR 15% - 99%
Loan Term Starting at 4 months

Lendr Merchant Cash Advance Review

Where does Lendr Merchant Cash Advance do business?

Lendr Merchant Cash Advance is a business financing offering by Lendr, based in Chicago, IL. Founded in 2011, Lendr offers access to business loans in 50 states (and Washington, DC).

What are Lendr Merchant Cash Advance’s rates?

Lendr Merchant Cash Advance offers a business financing product that ranges from 15% APR up to 99% APR.

Does Lendr Merchant Cash Advance charge an origination fee?

Yes, Lendr Merchant Cash Advance charges a loan origination fee.

What limitations does Lendr Merchant Cash Advance set on the purpose of the loan?

Lendr Merchant Cash Advance considers loan applications for business purposes, such as:

  • Business Debt Refinance
  • Equipment Purchase
  • Hiring
  • Inventory
  • Lease Improvement
  • New Location
  • Payroll
  • Product or Service Expansion
  • Technology Investment
  • Working capital

What types of business loans does Lendr Merchant Cash Advance 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 Merchant Cash Advance provides access to the following business loan types:

  • Merchant Cash Advances
  • ACH Cashflow Loans

Does Lendr Merchant Cash Advance charge prepayment fees?

Yes, Lendr Merchant Cash Advance 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 Lendr Merchant Cash Advance?

Lendr Merchant Cash Advance requires companies to be in business for at least 12 months. Businesses must have a minimum annual revenue of $10,000 to be considered.

Applicants with a credit score of at least 520 and up to 850 are eligible for Lendr Merchant Cash Advance.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via Lendr Merchant Cash Advance. Their rates 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
  • Business formation documents

What is the estimated funding time for a business loan via Lendr Merchant Cash Advance?

Lendr Merchant Cash Advance can approve (or deny) a loan application within 24 hours and fund business loans within 2 business days of approval.

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Contact

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

About Lendr Merchant Cash Advance

Availability

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

Credit Score Range 520 - 850
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Other
  • Retired
  • Self-Employed
Military Status
  • Active Duty Military
  • Military Dependent
  • Non-Military
  • Veterans
Minimum Months in Business 12
Minimum Revenue $10,000
Verification Documents Required
  • Business Formation Documents
  • Proof of Income
Loan Amount Up to $300K
Loan Term Starting at 4
APR 15% - 99%

Lendr Merchant Cash Advance Community Reviews

 
 

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