There is not enough information for us to recommend working with LenCred. Browse the lenders below to find the best loan for you:

LenCred’s core customer base is startups and small businesses. Businesses can apply for funding online or over the phone and LenCred’s staff will inform them if they qualify for loans or lines of credit, how much funding they can get, how long it will take to receive the funds, and how much it will cost. LenCred claims it has a database with hundreds of lenders and it uses its web-based program to review the lenders’ past lending history to select the lender that will be right for your business needs.

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The Good

LenCred arranges funding for startups that are risky to lend to because they do not have business revenues or established credit histories. Most lenders do not fund startups or small businesses with very low revenue or sales, so LenCred may be a useful option for those types of businesses.

Here are other things we like about LenCred:

Revenue Requirements

You do not have to have any revenue to apply for a loan so new businesses and very small businesses may be able to find funding sources through this company.

Personal Assistance & Education

LenCred has business finance staff members who review the types of funding available to its customers. LenCred’s staff can also work with potential customers to advise them on changes they could make to increase their chances of getting loans. The company claims it has a “team of people” it will refer potential customers to should they need help fixing errors on their credit reports in order to qualify for funding.

Businesses that register on LenCred’s website can access white papers on the benefits and drawbacks of different types of credit and learn how their personal credit can impact their businesses’ ability to borrow. LenCred’s site also has a blog with educational articles on funding for small companies.

No Impact on Owner’s Personal Credit Score

LenCred performs a “soft” credit check when you initially apply for funding so it does not have an impact on your personal credit score when conducting its pre-approval of your application.

Unsecured Lines of Credit

LenCred’s offers funding options that include unsecured lines of credit so business owners do not have to put their personal assets at risk to obtain working capital funding.

Outside Credentials

LenCred is part of Ripoff Report’s paid Corporate Advocacy Program, which requires the company to make a written pledge to respond to customer complaints in a timely manner and allows Ripoff Report to mediate between the customer and the business.

LenCred is a BBB accredited business with an A+ rating based on how long the company has been in business and how the company has resolved the eight complaints filed against it with the BBB.

The Bad

Lack of Information

There is not enough information on LenCred’s website to determine what kind of payment terms you would receive before you apply for a loan. The company does not list a range of interest rates or APRs for its loans or specify what kinds of fees it charges or what percentage of the loan amount covers its fees.

Before they apply for a loan, customers should be able to access information about the rates and any fees that lenders charge who work with LenCred. With the scarce information the company includes on its site, it is not possible to determine if LenCred will identify a lender that is an affordable funding resource compared to other lenders. There is no information about any fees for loan origination, closing costs, or if there are prepayment penalties if a loan is paid off early on the company’s website.

Although LenCred mentions it can help businesses apply for loans as one of the types of funding it offers, its website is heavily focused on its work obtaining unsecured lines of credit for small businesses. LenCred’s founder mentions funding with multiple credit cards is one of the options the company recommends to some of its customers.

LenCred does not provide information about how many businesses it has loaned money to or how much money it has loaned. The company also does not list what industries it provides loans to or if there are industries do not qualify for loans.

Negative Reviews about Rates

Two of the resolved complaints about LenCred on the Better Business Bureau’s website were for fees to obtain funding that the applicants thought were excessive and that they stated were not clearly explained to them during the application process. A complaint filed with Ripoff Report stated that the applicant did not realize he would be getting multiple credit cards for his funding needs and that he felt he was charged a brokerage fee by LenCred for funding he could have obtained on his own.

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The Bottom Line

LenCred will work with startups and very small businesses that may have problems obtaining funding because of low or no revenues and limited financial information. LenCred does not provide loans or lines of credit directly. It uses a web-based program to review applicants’ data and select lenders who will supply funding to them. If applicants do not qualify for funding, but may qualify with corrections to errors on their credit report, LenCred will refer them to people who may be able to correct the errors so they can qualify for funding.

LenCred does not report what its rates are to help businesses obtain funding. The company also does not list the range of interest rates or APRs businesses might be charged for loans. The company’s founder states that some of the funding it obtains for its customers is via credit cards. Because it works with many different lenders and does not give specifics on the kinds of funding it can provide startups or small businesses, you would need to apply for funding with LenCred in order to determine if the rates and terms of the funding would be advantageous to your business.

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*Star Rating is determined by evaluating APR range, minimum credit score requirement, revenue requirement, length in business requirement, and other related approval data.

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2 LenCred Reviews

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  1. User Score


    July 24th, 2016 Newark, NJ

    I used lencred. I did get some funding. I am not complaining. I have talked to numerous companies that does what lencred does with getting unsecured credit cards. I worked with the other companies along with lencred but not at the same time. I talk to each company and find out if they can help me get credit. Due to my credit situation I am limited on what I can get as a line of credit. Couple of the issues I have is that, if I am denied a credit card, I have to call and negotiate to have the credit card companies approve me. If I am paying lencred 9% for their service, I think they should do that on behalf of the client. The other companies I have worked with, they would call on my behalf to turn over there decision. I asked lencred about this and they said it is illegal to negotiate for the client. That seemed kinda strange. They have also advised that I should have anyone do that for me. It sounds like it is there way of saying that “sorry, Taught”. When I worked with the other companies they made me sign a power of attorney so they can speak to the lender directly on my behalf and negotiate for me. Pretty much what lencred has done is apply for the credit card and if denied it is the client responsibility to turn over there decision and if they decide to approve you, Lencred would take 9%. How does this make sense. I probably will not use them again. Another thing that I wasn’t impressed with is as soon as you get approved for first card they keep sending a message to give them a 5 star for their service. I am not giving a 5 star rating until the process is completely done. The last issue I have is, they told me that they knew which credit card company pulled which bureaus. Since some items on my credit report is under dispute, there is a security freeze on that bureau. This limits the lender to pull from that credit bureaus.
    Some of the lines of credit that lencred have applied for checked the credit bureau that had the security freeze. They charged me a fee because it was with the credit union. To apply for a credit card with a credit union, you have to be a member. To be a member there is a fee. I became a member but didn’t get the credit card. I think lencred should pay for it because they told me the wrong thing. The other companies I have worked with knew exactly which credit bureaus they checked and got me funding. It’s almost like going on Credit Karma, Bankrate, and other sites that are similar that estimate your credit score based on their data and make you credit offers. Sounds like that is what lencred did. They will not tell me that obviously because they want to collect the 9% of what they approved you for. They got me some credit but I am not happy with the surprises that were thrown at me during the process.

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  2. User Score


    February 13th, 2016 Bentonville, AR

    I have spoken to Lendcred in Bentonville, AR. I have a startup Ecommerce business. I am in a situation where my credit has been hurt by using personal credit to fund my business leaving me in a situation where my business has no credit rating and my personal debt to equity ratio is way too high. I started with a FICO score over 800. After the poor advice given to me by other individuals I am in a position where it is impossible to find financing. Lendcred has suggested doing the unsecured routes but the interest rates may be as high as 29.9%. They have not hidden those facts from me. Jerry is honest and open about what it is going to cost. The point is to GET THE FUNDING!! If I did not have problems, I would not be talking to Lendcred and neither would you. Why else are you reading reviews about them? You will be treated honestly and fairly. Remember. You are in a pickle and unfortunately there is no magic pill to get you out! They will help you, but you need to listen and follow instructions. There is always an answer to every problem. Nobody ever said the solution would be fun, and Jerry won’t lie to you and tell you that it will be. The good thing is that he WILL help you if he can!

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