LenCred

Overview

LenCred is an online matching service that connects startups and small businesses with lenders in its network. LenCred helps startup and established business owners obtain the capital needed to start, build, and grow their companies so that they can achieve their business goals and dreams. Our team of experts have the knowledge and experience to help entrepreneurs and business owners identify the type of funding that will work best for their unique business needs.

At LenCred we are passionate about helping small business owners solve their credit and lending problems. We’re completely committed to giving you honest, accurate, and dependable answers to your questions about how to obtain your business financing and how to get the right business loan or business line of credit based on your qualifications.

Loan Features

LenCred offers the following loan products:

Business lines of credit. Get continual access to cash for unexpected expenses or to make up for off-seasons.
SBA loans. Designed for businesses that don’t qualify for other financing, these government-guaranteed fixed-term loans and lines of credit come with low interest rates.
Equipment financing. Used to pay for equipment only, these fixed-term loans require collateral and a down payment.
Merchant cash advances. Simply put, an advance on your future sales paid back through a percentage of your future sales.
Invoice factoring. Instead of an advance on future sales, this option advances a portion of your unpaid invoices in an exchange for a percentage of their value.
401(k) financing. LenCred helps you navigate the complicated process of using a 401(k) to finance a small business. But unless your business has an impeccable financial history, it’s generally not a great option — and risks losing your retirement fund.

Application Process

Application Criteria:
In business no more than 3 years
Personal credit score of 660+
Annual business revenue of up to $300,000

Application process consists of:
1. Go to LenCred’s site and enter your name, phone number, email and time zone.
2. Within minutes, a LenCred resource specialist will email or call for a consultation about your business’s credit history and needs.
3. After your specialist looks into your options, they’ll contact you to discuss potential lenders and set up a plan to maximize your chances of getting your best deal.
4. Apply for a loan with the lender according to the financing plan, and receive your funds if you’re accepted. This whole process can take up to 30 days

Repayment Terms

LenCred doesn’t list much information online about its partners’ rates and terms, and it did not respond to our attempts to contact a rep through customer service channels.

Customer Support

3101 SW I Street
Suite 1 Bentonville, AR 72712
(479) 268-4353

602 Little Gloucester Road
Suite 8 Blackwood, NJ 08012
(856) 302-6487

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