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LenCred Review

Published By Janet Gershen-Siegel at April 7th, 2018

A Look at LenCred

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

This online lender serves 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: 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: You can email them at:

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%.


This online lender has a 0% introductory rate.

SBA Loans

This online lender does not obtain SBA Loans or give them out. Rather, this particular online lender can help companies apply for these.

Equipment Financing

$1,000 – $5 million is available in funding through LenCred. This online lender will help you get equipment financing. However, this online lender does 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. This online lender 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 this online lender also does 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. As a result, for many startup business owners, that could very well be advantage enough.


The biggest disadvantage is that the time to funding is slower in comparison to a number of other lenders in the online space. Another disadvantage is that business owners 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.

As a result, building business credit can help those business owners, even if a business owner would prefer to borrow with LenCred.

LenCred, on Balance

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

Business Credit Can Also Help

And finally, as with every other lending program, whether online or offline, remember to read the fine print and do the math. So 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.

These options include building business credit, in order to best decide how to get the money you need to help your business grow. Learn more here and get started toward getting business financing, which can help any company grow.

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