Many or all of the products featured here are from our partners who compensate us. This may affect which companies we write about and where the company appears on a page. However, any analyses or reviews expressed in this article are those of the author alone and have not been approved or endorsed by any partner.
Lendzi Pros
Lendzi Cons
Lendzi Features
Lendzi offers seven loan products with varying borrowing amounts and term length choices. Borrowing amounts typically range from $5,000 to $500,000, excluding SBA loans which can be as large as $5 million. Term lengths are as short as three months for working capital loans and merchant cash advances, and long-term loans and equipment financing are available with terms up to 84 months. Below is a breakdown of the terms and borrowing limits offered with each product.
| Product | Term Length | Min-Max Amount |
| Merchant Cash Advance | 3 to 15 months | $5,000 to $400,000 |
| Business Line of Credit | 6 to 12 months | Up to $250,000 |
| Working Capital | 3 to 15 months | Up to $400,000 |
| Equipment Finance | 12 to 84 months | Up to $2 million |
| Short-Term Loans | Up to 24 months | $5,000 to $250,000 |
| Long-Term Loans | 6 to 84 months | $25,000 to $500,000 |
| SBA Loans | Up to 10 years | Up to $5 million |
Lendzi Interest Rates and Fees
Because Lendzi partners with multiple lenders to offer multiple products, interest rates and fees vary depending on the option you choose. Some lenders may charge origination fees, prepayment penalties, and late fees, while others may not. Depending on the product you choose, you can expect the following interest rates:
| Product | Interest Rate |
| Merchant Cash Advance | Factor rate starting at 1.10 |
| Business Line of Credit | Interest rate starting at 6.2% |
| Working Capital | Factor rate starting at 1.15 |
| Equipment Finance | 3.49% to 28% APR |
| Short-Term Loans | Starting at 29.9% APR |
| Long-Term Loans | 11.29% to 30.12% |
| SBA Loans | 6.5% on average |
Lendzi Qualification Requirements
The ideal candidate for Lendzi business funding has two years of business history, $1 million in annual revenue, and a FICO score of at least 650. But Lendzi’s minimum requirements are much more lenient, and borrowers with any credit score are welcome to apply. That said, business lines of credit and term loans are targeted at borrowers with a 625 FICO score or higher.
| Minimum Credit Score | Any |
| Minimum Annual Revenue | $180,000 |
| Minimum Time in Business | 6 months |
| Other requirements | At least 50% ownership |
Lendzi Business Funding Application Process
To begin the application process, you’ll select your business structure and click “Get Funding Now.” At any time during the process, you can call 877-453-6394 or use the live chat for assistance. Filling out the initial form will not result in a hard credit pull or impact your credit score in any way.
Start by telling Lendzi how much money you need, and on the next page, enter the name of your business. You’ll then estimate the amount of time you’ve been in business and your monthly gross income.
On the next page, select an option for how you plan to use the funds. You can select expansion, equipment purchase, inventory, import goods, payroll, marketing, commercial real estate, remodeling, refinancing, and more. If none of the options fit your needs, you can also select “other.” Click “Next” when you’re ready to proceed.
Next, you’ll estimate your credit score, and then select your industry from the dropdown menu. Lendzi works with a variety of businesses, from food & beverage establishments to telecommunications companies.
The final step is to fill out personal details, such as your income, zip code, name, phone number, and email address. When you’re done, Lendzi will let you know who will be reaching out to you for the initial sales call.
After the initial call, you’ll choose your funding option. When the underwriting process begins, a hard credit check will be conducted. Once you’re approved, you’ll need to verify your bank account and participate in a funding call before the money will be deposited into your account. This can happen in as little as 24 hours after your application.
Lendzi Customer Support
If you need assistance from Lendzi, you can fill out this online form, call 1-877-4LENDZI, or enter your name and email to start using online chat. You can also reach the company by email at info@lendzi.com, and Lendzi has offices in Los Angeles, New York, Austin, and Boca Raton. However, the company doesn’t disclose its call center hours.
Lendzi Online Reviews
Lendzi has 2,000+ 5-star reviews across Trustpilot, Google, and the Better Business Bureau. Borrowers say the customer service team is friendly and professional, and many mention their representative by name. They also cite the speed and ease of the experience as reasons for their positive reviews, as well as transparency throughout.
One customer even said that Lendzi beat every other rate offer they received. Few customers left negative reviews, but those who did either complained of being rejected, had poor experiences with communication, or were unhappy with the fees that Lendzi charged.
| The positive reviews are related to | The negative reviews are related to |
| Friendly and professional customer service | Poor communication |
| Fast, easy, and transparent process | Rejection after multiple calls |
| Competitive rates | High fees |
Lendzi Perks and Bonuses
Flexibility
Lendzi doesn’t directly offer specific discounts or rewards on their products, but their partner lenders may offer these benefits. For example, some lenders offer a prepayment discount on term loans. Lendzi also does not have a formal hardship program that would allow borrowers to skip payments, though the company may be able to work with you depending on your individual situation.
Transparency
Customers say the team at Lendzi clearly explains everything by phone, and there are plenty of website resources you can use to educate yourself about different types of business funding. Lendzi also offers several calculators you can use to make informed decisions about your borrowing needs and qualifications.
Technology
Unlike many online lenders, Lendzi doesn’t offer an entirely online application, nor does the company disclose how payments are handled. Lendzi also doesn’t offer a mobile app.
Lendzi Alternatives
Backd Business Funding
For businesses looking for higher borrowing limits, Backd is an excellent option. You can get a line of credit up to $750,000 or a working capital loan up to $2 million, higher limits than most other companies offer. Like Lendzi, Backd is well-reviewed by customers and accessible to fair credit borrowers, since the company works with partners to fund loans for people who may not otherwise qualify. However, you’ll need at least $100,000 in annual revenue to qualify, and Backd doesn’t disclose any of its borrowing rates or fees online. That said, it’s easy to check your rate without hurting your credit.
Final Thoughts
Because Lendzi works with more than 75 partners to offer a variety of products, the lender can meet the needs of most small businesses. Lendzi is a great choice if you’d like some assistance reviewing your options, and borrowers have great things to say about the customer service team, but the mandatory phone calls may deter business owners who prefer to transact online. Lendzi may not be as fast or offer as many digital loan management tools as other lenders, either. But if your business earns at least $180,000 in annual revenue, Lendzi is a great starting point on your search for small business funding.
