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Lendistry business loans
Finder score
Min. Amount
Max. Amount
Starting at 6.75%

Our verdict

Discover small business funding targeting unserved communities and under-represented populations in all 50 states.

Lendistry is one of the few lenders community development financial institutions (CDFIs) that operates fully online. With rates that stop at 16% APR, it's also highly competitive compared to other online lenders, which have interest rates that often reach 100% APR.

But it's also more difficult to qualify with Lendistry than other nonprofit business loan providers. While it accepts new businesses, you'll need to have a personal credit score above 680 to qualify.

Best for: Established small businesses with good credit.


  • CDFI with online applications
  • Accepts new businesses
  • Low APRs from 6.75% to 16%
  • Top SBA Community Advantage lender


  • Doesn't disclose rates and fees for all loan programs
  • Requires high monthly sales
  • No loans or programs for bad credit

In this guide

  • Our verdict
  • Details
    • Product details
  • Your reviews
  • Ask a question


Product details

Min. Amount $250,000
Max. Amount $3,000,000
Loan term 12 to 120 months
Min. Credit Score 680
APR Starting at 6.75%
Requirements 680+ personal credit score, 2+ years in business

What makes Lendistry shine

Lendistry specializes in funding for minority-led small businesses and offers a variety of loan types and grants to suit their unique financial needs. It has funded more than $9 billion in loans and grants and has supported more than 600,000 small businesses across the country in rural and urban underserved communities.

It combines the resources of a nonprofit lender with the speed of an online business loan provider. Lendistry was the first community development financial Institutions (CDFIs) to offer online business loans across the country — most CDFIs we’ve reviewed only serve a small geographic area.

Lendistry is also one of the most active Small Business Administration (SBA) Community Advantage loan providers, is a government-backed loan program for businesses that don’t normally qualify for SBA funding.

Where Lendistry falls short

Lendistry provides substantial information on its site, but interest rates and fees are hard to come by and you may not know the exact costs until you apply.

Lendistry’s requirements are more flexible than traditional banks and credit unions, which often only work with profitable businesses. But unlike other CDFIs and online lenders, the minimum credit score for its regular lending program is on the high side, at 680.

Other CDFI lenders, like Accion Opportunity Fund, offer more products for bad credit and are more flexible with their minimum credit score requirements.

Lendistry business loans

Because Lendistry works with business owners who have good to excellent personal credit, you can expect fairly competitive rates. However, the APR you receive is also based on your monthly revenue, time in business and other factors.

To get the best rate — and largest loan amount — you’ll need to exceed Lendistry’s minimum requirements.

Business term loan

Minimum credit score680
APR6.75% to 16%
Loan amounts$250,000 to $3,000,000
TermsUp to 5 years
TurnaroundTypically 1-2 business days; funding in 2–3 business days.
AvailabilityAll 50 states
FeesOrigination fee up to 3% of your loan amount

Non-revolving line of credit

Loan amounts$50,000 – $5 million
TermsUp to 2 years
Eligible purposesIncrease working capital, acquire another business, purchase equipment or inventory, expand operations.

Startup financing

Loan amounts$50,000 – $5 million
Terms10-year term, 25-year amortization
Eligible purposesFor-profit businesses with less than two years in operation.

To see how much your business might pay every month, use our business loan calculator

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4 more types of funding available through Lendistry

In addition to its standard business loans, Lendistry also offers the following types of financing:

Commercial real estate loans

Loan amounts$50,000 – $5 million
Terms10-year term, 25-year amortization
Eligible purposesPurchase or refinance of office, retail mixed-use, industrial, multifamily or warehouse space.

SBA 7(a) Program

Loan amountsUp to $5 million
TermsUp to 25 years for real estate and up to 10 years for other purposes.
Eligible purposesIncrease working capital, expand a business, refinance current debt, purchase equipment or inventory, acquire commercial real estate and more.

New markets tax credits

Loan amounts$50,000 – $4 million
TermsUp to 5 years
Eligible purposesInventory purchase, working capital, equipment purchase or property improvements.

Grants and special programs

Lendistry regularly partners with government and private entities to administer unique forms of funding. These programs vary in response to current economic needs, but a few examples include:

  • Lendistry’s Amazon Community Lending program. Eligible Amazon sellers can borrow between $10,000 and $100,000 with repayment terms available up to two years. Rates range from 6.75% to 16% APR — low for an online business loan.
  • Airport concessions lending program. Offers funding to minority-owned businesses that are Airport Concessions Disadvantaged Business Enterprise (ACDBE)-certified with loans up to $5 million and terms lasting up to 10 years.
  • California nonprofit arts grant program. Provides grants to eligible nonprofit performing arts organizations, such as theater and dance companies, to encourage workforce development.

How to qualify for a Lendistry business loan

Lendistry requires you and your business to meet the following criteria:

  1. $12,500 or higher monthly revenue
  2. At least two years in business, except for startups
  3. 680 or higher personal FICO credit score
  4. No bankruptcies in the last three years
  5. No defaults on any government loans

Required documentation

Typically, Lendistry asks for the following documents when you apply for a small business loan.

Existing small business:

  • Business debt schedule
  • Two years of business tax returns
  • Previous year’s YE business financials
  • Two years of personal tax returns
  • Three months of business bank statements or bank verification
  • Government-issued ID
  • Personal financial statement

Startup business:

  • Two years detailed projections
  • Two years personal tax returnsYears Personal Tax Returns
  • Two years business tax returns, if available
  • Three months of business bank statements or bank verification
  • Most recent year-to-date profit and loss statement
  • Budget for the startup costs

However, the documents you need vary depending on your creditworthiness, time in business and revenue.

How to apply for a Lendistry loan

Apply online by following these steps:

  1. Visit Lendistry’s website and select Apply now under Term loans.
  2. Enter information about your business and yourself.
  3. Wait for a member of the Lendistry team to contact you by phone or email.

Once you submit your application, Lendistry typically decides within 24 to 48 hours. If approved, it deposits your funds into your business bank account within a few days — depending on the loan type. To get an SBA loan through Lendistry, it could take between one to three months to receive the funds — sometimes even longer.

For Lendistry grants, you can also find the application links on Lendistry’s home page. If you have any questions about an application, call 888-594-7270.

How Lendistry compares to other lenders

Enter your loan amount, revenue, time in business and credit score range to browse lenders best suited to your financial needs. Then, narrow down these lenders by minimum loan amount, maximum loan amount and more, or select Compare for up to four products to see their benefits side by side.

Name Product Filter Values Min. Amount Max. Amount Requirements
Lendio business loans
Finder Score: 4.8 / 5: ★★★★★
Lendio business loans
Operate business in US or Canada for 6 months or more, have a business bank account, minimum 500 personal credit score, at least $20,000 in monthly revenue
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
Olympus Business Capital
Finder Score: 3.8 / 5: ★★★★★
Olympus Business Capital
Been in business for 6 months registered with the state, active and open bank account in business name, have $10,000 of revenue each month
No credit needed. Funding up to $100k with a variety of finance options to best fit your business needs.
Go to site
American Express® Business Line of Credit
Finder Score: 4.4 / 5: ★★★★★
American Express® Business Line of Credit
Minimum FICO score of at least 660 at the time of application, have started your business at least a year ago, and an average monthly revenue of at least $3,000
Access lines of credit for your small business even if you aren't currently an Amex customer.
Finder Score: 4.9 / 5: ★★★★★
500+ FICO score, $200,000 annual revenue, 6 months in business, most recent business bank statements
Same day approval
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Fundera business loans
Finder Score: 4.9 / 5: ★★★★★
Fundera business loans
$60,000+ of annual revenue, 550+ personal credit score, in business for 6+ months
Get connected with short-term funding, SBA loans, lines of credit and more.

Lendistry reviews and complaints

BBB accredited Yes
BBB rating B
BBB customer reviews 4.68 out of 5 stars, based on 1,299 customer reviews
BBB customer complaints 101 customer complaints
Customer reviews verified as of 20 March 2023

Lendistry gets overwhelmingly positive customer reviews on the Better Business Bureau (BBB) website. Past customers highlight Lendistry’s straightforward applications and helpful customer service agents. However, a few complaints claim long approval times and lower-than-expected loan amounts.

Is Lendistry legit?

Yes, Lendistry is a legit online lender and registered CDFI. Its website is encrypted to help protect your data, and its privacy policy covers all the basics — what personal and business information is collected and how that information is used.

The BBB also reports that Lendistry responds to 100% of the complaints against it, a sign it’s willing to work with customers to resolve problems. Most scam companies don’t respond to customer complaints.

Visit our guide to the best business loans to see how this CDFI compares to other online options.

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