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Lendr business loans review

Quick cash advances for businesses with bad credit with daily payments.

Bottom line: Lendr specializes in short-term working capital with options for business owners with bad credit. But watch out — this type of financing can be pricey. Read our full review or get our 30-second take.

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Min. Amount$5,000
Max. Amount$500,000
Loan Term4 to 14 months
Min. Credit Score520
APR15% to 25%
RequirementsBusiness must be 12+ months old, have monthly revenue of $10,000+ and not be located in Alaska or Hawaii. Minimum borrower credit score of 520+.


  • Accepts bad credit
  • Works with some high-risk industries
  • Mostly positive customer reviews


  • Doesn’t disclose fees online
  • Automatic daily payments
  • Requires at least a year in business

Our take on Lendr business financing

Lendr is an online business financing provider that offers working capital loans to businesses that can’t qualify for a traditional loan. It specializes in financing for industries that lenders often consider high-risk such as autobody repair shops, construction contractors, transportation and restaurants. And it accepts bad credit. 

But businesses in the startup phase should consider another provider. You need at least a year in business and $10,000 in monthly revenue to qualify with this provider. The daily remittances required for its merchant cash advance could also hurt a company that’s just starting to build up revenue.

Lendr doesn’t disclose rates — but MCAs are an expensive option

Lendr doesn’t publish an exact range of rates on its merchant cash advances. But it says most small businesses can expect to pay a factor rate of 1.1 to 1.5 — equivalent to a fee of 10 to 50 cents on the dollar. 

This is relatively low for a merchant cash advance, but high compared to other short-term business financing.

You have between 4 and 14 months to repay the cash advance with a percentage of your daily credit and debit card sales.

Lendr invoice factoring

Business-facing businesses should consider Lendr’s invoice factoring product instead. This involves selling your business’s unpaid invoices to Lendr at a discount. It offers two different program

  • With full-service factoring Lendr handles your business’s finances like payroll processing and tax filing — for a fee of 3% to 5% of your invoice’s value.
  • Just the basics offers an advance of up to 90% of your invoice’s value, plus standard services — for a lower fee of 0.5% to 3% of the invoice’s value.

The hands-on service for invoice factoring sets Lendr apart. The full-service option may be a particularly good deal for businesses that need funds and are pressed for time.

Lendr reviews are mostly positive

BBB accredited Yes
BBB rating A+
BBB customer complaints 2 customer complaints
Trustpilot Score 4.8 out of 5 stars, based on 116 customer reviews
Customer reviews verified as of 15 October 2020

Customers seemed pleased with how smoothly the application process worked. Multiple reviewers say they feel like Lendr really cared about their business. But few complain that loan approval took a long time, with one warning against using Lendr for emergencies. Some customers also report negative experiences with customer service.

Established businesses can qualify, even with bad credit

Your business must meet the following criteria to be eligible for a merchant cash advance from Lendr:

  • At least 1 year in business
  • Monthly revenue of $10,000 or higher
  • Personal credit score of 500 or higher

Apply on Lendr’s website

You can get started on an application by filling out a quick form on the Lendr website with information about your business and how much financing you need. After you’ve completed the application, Lendr asks for documents, including three months of bank account statements and a valid photo ID.

After you’ve reviewed and signed the loan agreement, Lendr calls your business to confirm the agreement before sending over the funds. The whole process can take as little as 48 hours.

Lendr’s customer support set it apart

Lendr goes beyond what most short-term loan providers offer when it comes to support. While it uses an automated application, you’ll have the opportunity to speak with a funding manager to walk you through the process. The full-service factoring option also adds on additional financial assistance — at a price traditional factoring companies might charge for the basics.

Lendr is a legitimate business financing provider

Lendr is a Chicago-based business that first opened its doors in 2011 under the name Viking Funding Group. It rebranded as Lendr in 2016 to focus on technologically-driven financing products. Since its rebranding, Lendr earned a spot on the Inc. 5000 list in 2019.

But while Lendr is a legitimate lender, it still offers products that are more expensive than a traditional business loan. You may want to consider all of your alternatives before you apply.

Alternatives to Lendr

Fill out the form with basic information about your business to compare other providers that offer business financing. To learn about even more options, visit our guide to small business loans.

Name Product Filter Values Loan amount APR Requirements

Biz2Credit business loans
Finder Rating: 3.75 / 5: ★★★★★

Biz2Credit business loans
$25,000 – $6,000,000
Starting at 5.99%
6+ months in business; $100,000+ monthly revenue; 500+ credit score
Get only the capital you need through secure, prescreened lenders with this highly rated company offering SBA, expansion, working capital and other loans.

OnDeck short-term loans
Finder Rating: 4.6 / 5: ★★★★★

OnDeck short-term loans
$5,000 – $250,000
As low as 35%
600+ personal credit score, 1 year in business, $100,000+ annual revenue, active business checking account
A leading online business lender offering flexible financing at competitive fixed rates.

Fora Financial business loans
Finder Rating: 4.1 / 5: ★★★★★

Fora Financial business loans
$5,000 – $500,000
6+ months in business, $12,000+ monthly revenue, no open bankruptcies
Get qualified for funding in minutes for up to $500,000 without affecting your credit score. Best for companies with at least six figures in annual revenue.

Lendio business loans
Finder Rating: 4.75 / 5: ★★★★★

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
Finder Rating: 4.7 / 5: ★★★★★

ROK Financial business loans
$10,000 – $5,000,000
Starting at 6%
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.

Compare up to 4 providers

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