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Do Nothing Until You Read Our LenCred Recession Finance Review

Published By Janet Gershen-Siegel at June 18th, 2020

Do Nothing Until You Read Our LenCred Recession Finance Review

Everything You Need to Know About LenCred – Don’t Be Afraid to Ask!

LenCred is one of several  lending companies in the online space. They are based in Bentonville, AR. Check out our LenCred Recession Finance Review.

LenCred works with startup and established business owners who need between $25,000 – $150,000 in financing to start, build, or grow their companies. They do NOT have any revenue requirements and the companies who work best with them have between $0 and $250,000 in annual revenues. That’s their first requirement to be a good fit.

We look at the specifics and drill down into the details.

LenCred Recession Finance: Background

LenCred is located online here: Their physical address is in Bentonville, Arkansas. You can call them at: (479) 268-4353 (Arkansas) and (888) 783-1503 (toll free).  Their contact page is here: You can email them at: [email protected].

LenCred Recession Finance: Unsecured Business Credit Lines

There is a $50,000 guaranteed minimum for a line. You can get $25,000 – 150,000 or more. You will need solid credit, but it does not have to be perfect. Keep your personal credit utilization rate under 30%.

Their unsecured business credit lines allow small business owners to build corporate credit.

LenCred Recession Finance: Fees

Various sources report 6%, 8%, or 9% fees. However, there are currently no fees listed on the site.

LenCred Recession Finance: SBA Loans

They do not get SBA Loans or give them out. Rather, they can help companies apply for these. The LenCred team has the knowledge and experience to guide a business owner to the right SBA loan program and approved SBA lender. If they don’t qualify for an unsecured business line of credit, an SBA loan may be the next best option.

LenCred Recession Finance: Equipment Financing

LenCred has both equipment leases and loans. This lender specializes in helping entrepreneurs and small business obtain capital in the simplest way possible. And equipment financing is one of those ways.

$1,000 – $5 million is available. However, this lender does not seem to actually provide equipment financing.

LenCred Recession Finance: Fees

Various sources report 6%, 8%, or 9% fees. However, there are currently no fees listed on the site. 

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Find out why so many companies use our proven methods to get business loans, even during a recession.

LenCred Recession Finance: Advantages

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. This particular lender also seems to be flexible when it comes to borrowers with less than stellar credit.

LenCred Recession Finance: Disadvantages

The biggest disadvantage is that this lender does not clearly list fees – so do they charge them, or not? 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.

Big Disadvantage

Another basic disadvantage is that, as of the initial writing of this blog post, LenCred is not a part of the SBA Paycheck Protection Program as a lender. Will they be? Currently, online lenders are generally not a part of that program.

An Important Alternative to LenCred Recession Finance – Our Credit Line Hybrid

Our credit line hybrid is a form of unsecured business financing. This program helps clients get funding based strictly on personal credit quality.  Our lenders will not ask for financials, bank statements, business plans, resumes, or any of the other burdensome document requests that most conventional lenders demand.

If your personal credit score is at least 680, then you can potentially qualify for $5,000 – $150,000. And we don’t even ask for you to provide collateral.

A Terrific Alternative to LenCred Recession Finance – Establishing Business Credit

This is credit in a business’s name. It doesn’t link to an entrepreneur’s consumer credit, not even if the owner is a sole proprietor and the solitary employee of the small business.

Accordingly, a business owner’s business and individual credit scores can be very different.LenCred recession finance review Credit Suite2 - Do Nothing Until You Read Our LenCred Recession Finance Review

The Process

Establishing business credit is a process, and it does not occur without effort. A business has to actively work to develop company credit.

Business Fundability

A business needs to be fundable to loan providers and vendors.

That’s why, a company will need a professional-looking web site and e-mail address. And it needs to have site hosting from a company like GoDaddy.

And also, business phone numbers need to have a listing on

Additionally, the business phone number should be toll-free (800 exchange or similar).

A small business will also need a bank account dedicated strictly to it, and it needs to have every one of the licenses necessary for operating.


These licenses all have to be in the perfect, correct name of the business. And they need to have the same company address and phone numbers.

So note, that this means not just state licenses, but potentially also city licenses.

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Find out why so many companies use our proven methods to get business loans, even during a recession.

Working with the Internal Revenue Service

Visit the Internal Revenue Service website and get an EIN for the small business. They’re free. Choose a business entity like corporation, LLC, etc.

A company can begin as a sole proprietor. But they will more than likely want to change to a variety of corporation or an LLC.

This is in order to decrease risk. And it will make best use of tax benefits.

A business entity will matter when it involves taxes and liability in the event of litigation. A sole proprietorship means the entrepreneur is it when it comes to liability and taxes. Nobody else is responsible.

Particularly during a recession, it is vital to protect your home and other personal assets from seizure in the event of a business failure. You may not want to think about it – but that doesn’t mean it can never happen.

Starting Off the Business Credit Reporting Process

Start at the D&B web site and obtain a free D-U-N-S number. A D-U-N-S number is how D&B gets a business in their system, to produce a PAYDEX score. If there is no D-U-N-S number, then there is no record and no PAYDEX score.

Once in D&B’s system, search Equifax and Experian’s websites for the company. You can do this at If there is a record with them, check it for correctness and completeness. If there are no records with them, go to the next step in the process.

By doing this, Experian and Equifax will have activity to report on.

Vendor Credit

First you should establish trade lines that report. This is also referred to as vendor credit. Then you’ll have an established credit profile, and you’ll get a business credit score.

And with an established business credit profile and score you can begin to get credit for stores and more universal credit like with Visa.

These varieties of accounts often tend to be for the things bought all the time, like marketing materials, shipping boxes, outdoor work wear, ink and toner, and office furniture.

But to start with, what is trade credit? These trade lines are credit issuers who will give you preliminary credit when you have none now. Terms are ordinarily Net 30, instead of revolving.

Hence, if you get approval for $1,000 in vendor credit and use all of it, you will need to pay that money back in a set term, like within 30 days on a Net 30 account.

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Find out why so many companies use our proven methods to get business loans, even during a recession.

Retail Credit

Once there are 3 or more vendor trade accounts reporting to at least one of the CRAs, then move to revolving store credit.

Fleet Credit

Are there more accounts reporting? Then move to fleet credit. Use this credit to buy fuel, and to repair, and take care of vehicles.

More Universal Business Credit Cards

Have you been responsibly handling the credit you’ve up to this point? Then move to more universal business credit cards.

These are commonly MasterCard credit cards. If you have several trade accounts reporting, then these are feasible.

Monitor Your Business Credit

Know what is happening with your credit. Make sure it is being reported and attend to any inaccuracies ASAP. Get in the practice of checking credit reports and digging into the details, and not just the scores.

We can help you monitor business credit at Experian, Equifax, and D&B for 90% less! See:

Update Your Information

Update the information if there are errors or the information is incomplete. At D&B, you can do this at: D&B D-U-N-S Number. For Experian, go here: Experian business credit information. And for Equifax, go here:

Fix Your Business Credit

So, what’s all this monitoring for? It’s to contest any mistakes in your records. Mistakes in your credit report(s) can be corrected. But the CRAs generally want you to dispute in a particular way.


Disputing credit report mistakes generally means you mail a paper letter with duplicates of any evidence of payment with it. These are documents like receipts and cancelled checks. Never mail the originals. Always mail copies and retain the originals.

Fixing credit report inaccuracies also means you specifically itemize any charges you dispute. Make your dispute letter as crystal clear as possible. Be specific about the issues with your report. Use certified mail so that you will have proof that you mailed in your dispute.

A Word about Business Credit Building

Always use credit smartly! Never borrow beyond what you can pay off. Monitor balances and deadlines for repayments. Paying off punctually and completely will do more to raise business credit scores than just about anything else.

Building small business credit pays off. Good business credit scores help a small business get loans. Your lender knows the business can pay its financial obligations. They understand the business is bona fide.

The small business’s EIN attaches to high scores and lenders won’t feel the need to require a personal guarantee.

Business credit is an asset which can help your small business for years to come. Learn more here and get started toward growing small business credit.

LenCred Recession Finance Review: Upshot

The companies which will most likely do well with LenCred need financing and have low personal credit utilization rates. Companies which will not do well are those where the entrepreneur has been relying too heavily on personal credit. That drives up their credit utilization rate.

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 if this option will be good for you and your company. In addition, consider alternative financing options that go beyond lending. So these include building business credit. In order to best decide how to get the money you need to help your business grow.

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