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Lendistry business loans review

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Borrow a large amount at competitive rates — but specific details are hard to find online.’s rating: 3.77 / 5.0


  • Best for newer businesses with strong monthly revenue.
  • Pick something else if you want to work with a more transparent lender.


Min. Amount


Max. Amount


Product NameLendistry business loans
Min. Amount$250,000
Max. Amount$3,000,000
Loan Term12 to 120 months
Min. Credit Score680
APRStarting at 6.75%
Requirements680+ personal credit score, 2+ years in business

Expert review

Anna Serio

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Lendistry has one of the larger maximum term loan amounts out there, making it a good choice for businesses that need a hefty influx of working capital without working with the SBA. Of course, it also has SBA loans — making it a versatile choice. Its rates are competitive, and as a Community Development Financial Institution (CDFI), Lendistry is committed to providing affordable financing to underserved business communities.

However, it’s one of the few business lenders that charges prepayment penalties, and it can take up to 20 days to get your funds. And if you’re looking for a lender that provides information up front, check elsewhere. Lendistry only has a handful of pages and FAQs — none of which really give details about how its loans work or what other fees it charges.

For more options, compare other business loan lenders.

Lendistry current accepting PPP applications

Lendistry has partnered with Goldman Sachs and is still accepting PPP applications. To get started, visit Lendistry’s website, click Apply now or review its requirements. Once your application has been submitted, Lendistry will review it and get back to you within 48 hours to ensure it has all the information it needs. However, funding is limited — and applications are only being accepted from businesses located in 10 serviced states.

Because of this, Lendistry is not currently offering its usual business loan options. Check with a Lendistry representative to see when your business will be eligible to apply.

How much will this loan cost me?

Lendisty offers term loans of to . Its terms last up to 10 years, and you’ll have an APR between 6.75% to 16% — including an origination fee up to 3% of your loan amount.

Rates are fixed for the life of the loan, and you can expect to make regular monthly repayments.

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

Monthly repayments calculator

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How it works

Because Lendistry works with business owners who have good to excellent personal credit, you can expect fairly competitive rates. However, the APR you receive will also be 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.

What industries does Lendistry work with?

Lendistry doesn’t state what industries it will or will not work with. You may have a difficult time qualifying for a loan if your business is involved in cannabis or adult entertainment. But it will work with other high-risk industries like trucking, construction, healthcare, home improvement and restaurants. To confirm your business is eligible, reach out to a Lendistry representative.

What do I need to qualify?

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

  • $12,500+ monthly revenue
  • At least two years in business
  • 680+ personal FICO credit score
  • No bankruptcies in the last three years
  • No defaults on any government loans

What information do I need to apply?

Typically, Lendistry asks to see these documents:

  • Three months of business bank statements
  • Two years of business tax returns
  • Two years of personal tax returns
  • Social Security number
  • Business Tax ID number
  • Proof of average monthly sales

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

What other types of financing does Lendistry offer?

Type of loanLoan amount
Commercial real estate loans$250,000 to $3 million
Express Business line of creditUp to $250,000
Revolving line of creditUp to $3 million


  • Competitive rates ranging from 6.75% to 16%
  • Registered Community Development Financial Institution
  • Large maximum loan amount of $3 million


  • Multiple fees, including potential prepayment penalties
  • Funding may take up to 20 business days
  • Limited information available online

See other top business loan options

Data indicated here is updated regularly
Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
Fundbox business loans
$1,000 – $100,000
You must have an established business.
Get flat rate, short-term financing based on the financial health of your business, not your credit score.
Kickpay e-commerce business loans
$20,000 – $1,000,000
Not applicable
At least $250,000 in the past 12 months of revenue, e-commerce business, use a 3rd party fulfillment center for storing and shipping inventory, at least one US location.
Get a loan for your e-commerce business based on your sales history.
Fundera business loans
$2,500 – $5,000,000
7% to 30%
$300,000+ of annual revenue, 680+ personal credit score, in business for 3+ years
Get connected with short-term funding, SBA loans, lines of credit and more.
LendingClub business loans
$5,000 – $500,000
12.15% to 29.97%
12+ months in business, $50,000+ in annual sales, no bankruptcies or tax liens, at least 20% ownership of the business, fair personal credit score or better
With loan terms that vary from 12 to 60 months, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
Monevo business loans
$500 – $100,000
3.99% to 35.99%
Credit score of 500+, legal US resident and ages 18+.
Use this connection service to get paired with a loan you can use for business.

Compare up to 4 providers

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.

Does Lendistry get good customer reviews?

BBB accredited Yes
BBB rating A+
Customer reviews verified as of 20 May 2020

There’s almost nothing online about Lendistry. It gets an A+ rating from the Better Business Bureau (BBB), but there are no reviews or complaints available. There are also no mentions of Lendistry on Trustpilot or even the major online forums like Reddit as of May 2020. Its reviews on Yelp are all recent — and all focused on its PPP loans, not its normal business financing.

How do I apply?

You can 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 get in touch with you by phone or email.

What happens after I apply?

Once you submit your application, Lendistry will give you an approval decision within 24 to 48 hours. If approved, your funds will be deposited into your business bank account within 10 to 20 days.

How do repayments work with Lendistry?

Your repayment schedule will depend on the type of loan you borrowed. For term loans, you can expect monthly repayments. However, Lendistry doesn’t state directly what it charges for late fees or prepayment fees. To get an idea what your business might have to pay, reach out to Lendistry or check the terms of your loan agreement.

See how Lendistry compares to other lenders by visiting our business loans guide.

Frequently asked questions

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Business loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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