Last Updated: 04/18/2025
No Reviews Yet
This product has no reviews yet. Help others by sharing your thoughts.
Be the first to rate
Cast Your Vote
Compare All Merchant Cash Advance
Filter & compare all your options in one place.
Highlights
Factor Rate
Starting at 1.12
Amount Range
Up to $500,000
Minimum Revenue
$120,000
APR (Fee-Based Product)
Starting at 12%(Verified 06/21/2024)
Disclaimer popup with additional information
Lendr Merchant Cash Advance Review
Lendr Merchant Cash Advance is offered by Lendr, a direct lender founded in 2011 and based in Chicago, IL. Lendr Merchant Cash Advance are available in 50 states and Washington, DC.
Lendr Merchant Cash Advance FAQ
What APRs does Lendr Merchant Cash Advance offer?
The cost of merchant cash advances is typically marketed as a factor rate, not an APR. Lendr offers merchant cash advance with a factor rate starting from 1.12 . The higher the factor rate, the higher the fees. For example, an advance of $20,000 with a factor rate of 1.25 will have a total repayment of $25,000, which includes $5,000 in fees.
that ranges from 12% APR. Does Lendr Merchant Cash Advance charge prepayment fees?
Yes, Lendr Merchant Cash Advance charges additional fees to borrowers who pay off their Lendr Merchant Cash Advance 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 Lendr Merchant Cash Advance early.What types of repayment method does Lendr Merchant Cash Advance accept?
Lendr Merchant Cash Advance accepts the following repayment method from the Merchant:
- Split withholding
- ACH withholding
How often does Lendr Merchant Cash Advance process payments?
Lendr Merchant Cash Advance processes payments daily based on your business's credit card transactions. This means that a percentage of your transactions will automatically be sent to Lendr Merchant Cash Advance as payment for your cash advance until the full amount is paid.
Does Lendr Merchant Cash Advance charge an origination fee?
Yes, Lendr Merchant Cash Advance charges a origination fee .
What is the minimum repayment amount required by Lendr Merchant Cash Advance?
There is no minimum repayment amount.
What is the estimated funding time for a merchant cash advance via Lendr Merchant Cash Advance?
Lendr Merchant Cash Advance can fund your merchant cash advance within 2 business days of approval.
What are the business financing requirements for Lendr Merchant Cash Advance?
To apply for Lendr Merchant Cash Advance, you need to provide the following business documentation:
- Business license
- Business bank account
What do you need to qualify for Lendr Merchant Cash Advance?
Applicants with a credit score of at least 55 and up to 850 may be eligible for Lendr Merchant Cash Advance. The minimum age to be eligible is 18 or the state minimum, whichever is higher. Lendr Merchant Cash Advance does not have or does not disclose a minimum annual income eligibility requirement.
U.S. citizens and permanent resident / green card holders are eligible to apply for the services offered by Lendr Merchant Cash Advance.
To qualify, applicants may need to provide the following documentation:
- Proof of income
- Bank account information
- Business formation documents
- Government issued photo ID
- Proof of identity
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...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.