Lendr Review: Fast Working Capital, But Pricey
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- Min. Amount
- $5,000
- Max. Amount
- $1,000,000
- APR
- 12% to 25%
Our verdict
This provider offers working capital solutions, but options can be pricey and may require daily payments.
Lendr provides merchant cash advances (MCAs) and invoice factoring to small businesses. It offers an easy application process and funding in as fast as 24 hours. Its credit requirements are low, and it offers financing amounts from $5,000 to $1 million, making it an option for a wide range of borrowers. However, its loan options are some of the more expensive types of business funding.
Best for: Established businesses in need of fast, flexible funding.
Pros
-
Funding as soon as 24 hours
-
Low credit requirements
-
Wide range of loan amounts
Cons
-
Fees can be high
-
No traditional loan options
-
Won’t help you build credit
Is Lendr legit?
Lendr appears to be a legitimate fintech company that offers merchant cash advances and invoice factoring to small businesses. But it seems odd there is no recent information about the company, making it look like it may no longer be in business. We checked review sites and social media, and the most recent posts are from 2022. Lendr returned our phone call and confirmed it’s still in business, but you may want to consider lenders with more recent customer reviews.
What makes Lendr shine?
Lendr stands out by offering flexible financing options for businesses with poor credit in need of fast funding. The application process is said to be quick and easy, and a company representative should call you right away to discuss your options. Most customers speak very highly of the specialists they worked with.
It’s also nice that funding amounts range from $5,000 to $1 million. Many business lenders have much higher minimums, which can make it harder for businesses looking for more modest sums to find a lender that will work with them.
Where Lendr falls short
Technically, Lendr doesn’t offer loans at all. It offers merchant cash advances and invoice factoring, which essentially requires you to sell your future sales or revenue at a discount. While these are legitimate means of raising capital quickly, they’re also some of the more expensive forms of business financing.
Plus, this type of funding isn’t reported to credit bureaus, so it won’t help you build credit, which is essential to qualify for more affordable financing.
Lendr business loan details
| Minimum credit score/credit range | 550 |
| Fees | MCAs: Starting at 12% Factoring: 0.5% to 5.0% |
| Loan amounts | $5,000 to $1 million |
| Terms | Up to 14 months |
| Approval turnaround | As soon as 24 hours |
| Availability | Undisclosed |
| Other fees | Undisclosed |
Lendr contact info
| Phone number | 888-887-2812 |
| Customer service hours | Weekdays: 8 a.m. to 5 p.m. CT |
| support@lendr.online | |
| X, formerly Twitter | @LendrOnline |
| Lendr, LLC |
How to qualify for Lendr
To qualify for Lendr, you’ll need:
- At least 12 months in business or 6 months for startups
- $10,000 or more in monthly revenue
- 550+ credit score
- Applicants with at least 51% ownership
How to apply
Lendr appears to have a fast and easy application process.
- Apply. You can begin the application process over the phone or by filling out its online form.
- Submit documents. Lendr recommends following up your application by submitting three months of bank statements, a copy of your government-issued ID and a voided check.
- Talk to a representative. A Lendr representative will call you after receiving your application to review your options and rates and determine if you need to submit additional documentation.
- Wait for a decision. You could hear back from the company with a decision in just a couple of hours.
- Review and sign. If approved, review your agreement and sign. You could receive funds as soon as 24 hours after approval.
How Lendr compares to other lenders
What is the Finder Score?
The Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.
To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.
Lendr reviews and complaints
| BBB accredited | Yes |
|---|---|
| BBB rating | A+ |
| BBB customer complaints | 2 customer complaints |
| Trustpilot Score | 4 out of 5 stars, based on 115 customer reviews |
| Customer reviews verified as of | 26 March 2025 |
Although Lendr has been accredited on BBB since 2016 and has an A+ rating, there are no reviews or complaints, which is a little odd. It has a 4-star rating on Trustpilot, with many reviewers praising the fast and easy application process and helpful customer service. But some customers complain of high rates. It should be noted that the most recent reviews and complaints are from 2021.
What do people on Reddit say?
Frequently asked questions
Who owns lendr?
Lendr was established in 2011 as Viking Funding Group by CEO Tim Roach, an entrepreneur and Navy SEAL. It was relaunched as Lendr in 2016.
Your reviews
Lacey Finder
Writer
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