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Do Nothing Until You Read Our LenCred Online Lender Review

October 19, 2023
LenCred Credit Suite

Our Verdict: 

LendCred works well for those who are not in a hurry for funding to meet their business goals and have good personal credit, or have bad personal credit but high monthly revenue. 

LenCred Pros & Cons

Pros Cons
0% introductory rate Slower funding process than some competitors
No minimum revenue requirement with good credit Utilization rate requirements may not work for those who have heavily relied on personal credit for business funding
Flexible with bad credit


Everything You Need to Know About LenCred – Check Out Our Lencred 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 broker for their clients needing small business loans, mainly startup companies and newer businesses. LenCred works with companies which need from $25,000 – $200,000 in business financing to meet working capital and other funding needs. 

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 funding is unsecured business financing. We look at the specifics and drill down into the details.

LenCred Review

Product Loan Amount Qualifications
Business Line of Credit $25K-$150K 1 yr in business, $100,000 annual revenue, 650 credit score
Equipment Financing $1K-$5M 1 yr in business, $50,000 annual revenue, 650 credit score
SBA Loans $5K-$5M 1 yr in business, $100,000 annual revenue, 700 credit score

Score the best financing for your business.  Get money, even in a recession.


LenCred is located online here. Their physical address is in Bentonville, Arkansas. You can call them at: (888) 783-1503.  Their contact information is here: https://lencred.com/contact/. You can email them at: [email protected]. They are a Better Business Bureau Accredited company with an A+ rating and 4.5 out of 5 stars.

Unsecured Business Credit Lines

You can get $25,000 – 150,000 or more. However, you will be denied if you have a consumer credit utilization rate of over 30%. Also, you can’t have any derogatory or delinquent accounts reporting on your credit profile. 

Late monthly payments, collections, unpaid tax liens, repossessions, and bankruptcies will get your application for an unsecured business line of credit denied. You also can’t have a lot of recent hard inquiries (in the last six months).

These work great as an option for working capital. 


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 loans from the Small Business Administration (SBA).

Equipment Financing

$1,000 – $5 million is available in business financing for capital in the form of equipment through this lender. They will help you get equipment financing. However, they do not seem to actually provide it.

Equipment Financing (Loans and Leasing)

Online lender LenCred offers set terms.  Equipment which will go obsolete quickly (e.g. computers) works better with a lease. And for equipment which will not become obsolete quite so quickly (or you need it for a good 5 years or more), a loan tends to work better.

Your business can get up to $5,000,000. For equipment financing, you often need a FICO score of 650 or better. Some lenders require that you be in business for at least one year and be generating $50,000 in revenue.


There is a monthly fee which does not appear to be specified on their website.

LenCred Advantages

Customers of LenCred Inc benefit in many ways. First, unsecured business funding is often a great way for startups to get the funding they need without using a personal credit card.  Using a personal credit card for company expenses can tank a personal credit score quickly. 

Another advantage is that they do not seem to have an annual revenue requirement unless you have bad personal credit. So, if you have good personal credit, this is a great way to protect it. 

Of course, the 0% introductory rate is a strong advantage as well, as is the fact that this particular lender also seems to be more flexible than most others when it comes to customers with less-than-stellar credit.

However, those who do have a bad personal credit score will find that they have a minimum revenue requirement, along with the potential for additional requirements. Still, many lenders will withhold approval completely due to a low credit score. 

Lastly, the A+ and high rating with the BBB shows they are an honest company and have good customer service. 

LenCred Disadvantages

The biggest disadvantage is that the time to funding is slower compared to a number of other lenders in the online space. If you need funding quickly, this isn’t the best option.

Another disadvantage is that entrepreneurs who have been relying on their personal credit card or multiple credit cards to fund their businesses are probably going to have too high a credit utilization rate to qualify for LenCred’s offerings.

Despite the fact that they are typically more flexible than other lenders with credit requirements, company expenses can cause a credit utilization rate, or the ratio of debt to available credit to skyrocket. 

In this case, it may be too much to meet even LenCreds less stringent requirements.

Lastly, despite the 0-interest introductory rate, regular interest rates are pretty high. This means that after the introductory rate expires, a significant increase can be expected. Customers who are unaware could find themselves struggling.  

Score the best financing for your business.  Get money, even in a recession.

An Alternative – Establishing Business Credit

This is credit in a company’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.

The Advantages

Since company credit is distinct from personal, it helps to protect a business owner’s personal assets, in the event of legal action or business bankruptcy.

Also, with two separate credit scores, a small business owner can get two different cards from the same vendor. This effectively doubles buying power.

Another benefit is that even startup companies can do this. Visiting a bank for a business loan can be a formula for frustration. But building small business credit, when done correctly, is a plan for success.

Personal credit scores rely on payments but also other elements like credit usage percentages.

But for small business credit, the scores really merely depend on whether a company pays its debts on time.

Business Fundability™

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

That’s why a company will need a professional-looking website 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 ListYourself.net.

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.

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. Dig into the details, not just the scores.

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

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 that can help your small business for years to come. Learn more here and get started toward growing small business credit.

Score the best financing for your business.  Get money, even in a recession.

LenCred Reviews and Upshot

The companies that will most likely do well with LenCred need business financing but can afford to wait a month. Companies that 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. If your business can’t meet the monthly revenue requirement, then you may be better off working with one of the many LenCred competitors.

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 small business funding you need to help your business grow.

About the author 

Janet Gershen-Siegel

Janet Gershen-Siegel is the seasoned Finance Writer and a former content manager at Credit Suite. She has been admitted to practice law for over 30 years, with a focus on litigation and product liability, and is a published author, with writing credits at Entrepreneur, FedSmith.com and BusinessingMag.com.

She has a BA in Philosophy from Boston University, a JD from the Delaware Law School of Widener University, and a MS in Interactive Media (Social Media) from Quinnipiac University.

She regularly writes for Credit Suite, which helps businesses improve Fundability™, build credit, and get approved for loans and credit lines.

Her specialties: business credit, business credit cards, business funding, crowdfunding, and law

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