Lendr Working Capital Review

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

What are Lendr’s rates?

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

Does Lendr charge an origination fee?

Yes, Lendr charges a loan origination fee.

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

Lendr considers business 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 small business loans does Lendr offer?

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

• Invoice Financing
• Merchant Cash Advances
• ACH Cash Flow Loans

Does Lendr charge prepayment fees?

Yes, Lendr charges additional fees to borrowers who pay off their small business 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 business loan early.

What do you need to qualify for Lendr Working Capital?

Lendr Working Capital 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 may be eligible for Lendr Working Capital.

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 Working Capital. Their rates fall within the limits of The Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Lendr Working Capital. Permanent resident / green card holders are also eligible to apply.

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?

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