LenCred Online Lender Review

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LenCred Online Lender Review

Published By Janet Gershen-Siegel at April 7, 2018

ss rating review stars 1200x480 - LenCred Online Lender Review>

LenCred is one of several  lending companies in the online space. They are based in Blackwood, NJ and Bentonville, AR.

They serve as a small business loan broker, mainly to startup companies and newer businesses. LenCred works with companies which need from $25,000 – $200,000 in financing. There are no revenue requirements; the companies which work with them tend to have $0 – $250,000 in annual revenues. Their most popular form of financing is unsecured financing. We look at the specifics and drill down into the details.


LenCred is located online here: https://lencred.com/. Their physical addresses are in Bentonville, Arkansas and Blackwood, New Jersey. You can call them at: (479) 268-4353 (Arkansas) and (856) 302-6487 (New Jersey).  Their contact page is here: https://lencred.com/contact/. You can email them at: [email protected].

Unsecured Business Credit Lines

There is a $50,000 guaranteed minimum for a line. You can get $25,000 – 100,000 in the first 30 days. However, you will be denied if you have a consumer credit utilization rate of over 30%.


They have a 0% introductory rate.

SBA Loans

They do not obtain SBA Loans or give them out. Rather, they can help companies apply for these.

Equipment Financing

$1,000 – $5 million is available in funding through LenCred. They will help you get equipment financing. However, they do not seem to actually provide it.

ACH/MCA Financing

Online lender LenCred offers 2 to 10 year repayment terms. You need to have $10,000 or more in monthly revenues if you have bad credit. Your business can get up to $50,000. They can also facilitate Factoring and IRA/401(k) Financing.


There is an origination fee of 8%, which is capped at $5,000.


Advantages are that unsecured business funding is often a great way for startups to get the money they need, and they do not seem to have an annual revenue requirement unless you have bad personal credit. There is also the matter of the 0% introductory rate. LenCred also seems to be flexible when it comes to borrowers with less than stellar credit.


The biggest disadvantage is that the time to funding is slower compared to a number of other lenders in the online space. Another disadvantage is that entrepreneurs who have been relying on their personal credit cards to fund their businesses are probably going to have too high a credit utilization rate to qualify for LenCred’s offerings.


The companies which will most likely do well with LenCred need financing but can afford to wait a month. Companies which will not do well are those where the entrepreneur has been relying too heavily on personal credit, thereby driving up their credit utilization rate. The monthly revenue requirement is high – a company just getting on its feet is not going to qualify.

And finally, as with every other lending program, whether online or offline, remember to read the fine print and do the math. Go over the details with a fine-toothed comb, and decide whether this option will be good for you and your company. In addition, consider alternative financing options that go beyond lending, including building business credit, in order to best decide how to get the money you need to help your business grow.

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