Personal Loan vs Business Loan - Which is Right for Your Business?
Sep. 29, 2023
You’re 6 Steps Away From Qualifying for a Business Loan
Sep. 29, 2023
Business Loan Options for Women-Owned Businesses
Sep. 29, 2023
This site is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which may impact the location and order in which brands (and/or their products) are presented, and may also impact the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time
Founded in 2020 in Los Angeles, Lendzi is an online loan aggregator that works to help you get the financing your business needs. Lendzi scours the marketplace to find you the best terms from its network of more than 60 lending partners. Since opening its doors, Lendzi has served $500 million in loans to businesses all over the US.
Lendzi’s partners offer a wide range of financing options, including business loans, debt and equity financing, invoice factoring, cash advances, and personal loans. It does not cost anything to use Lendzi’s service, and requesting a quote won’t affect your credit score.
Lendzi is suitable for small businesses looking to get funds quickly at the best available rates. Rather than contacting lenders individually, Lendzi does the hard work for you by scanning multiple offers simultaneously to find the right option for your business. You can get a personalized quote in a matter of minutes and receive funding in just 24 hours.
Whether you run a sole proprietorship, partnership, LLC, C corporation, or S corporation, Lendzi can get your business the funding it needs. Its lending partners offer a wide range of products, including SBA and term loans, lines of credit, equipment and debt financing, invoice factoring, and merchant cash advances.
To get started, simply visit Lendzi’s website and request a free, no-obligation quote. You’ll need to provide information related to your business and personal finances, including your name, business name, address, business revenue, loan amount, and credit score. The whole process should take no more than three minutes from start to finish.
Once you’ve submitted your quote, one of Lendzi’s loan officers will contact you within one business day to discuss your options. Alternatively, you can submit a self-service application right away to get offers tailored to your needs within minutes. Depending on the loan amount and type of financing you need, you can receive funding as soon as 24 hours after applying.
Be advised some products or lenders may require you to submit additional documentation prior to receiving funding. These may include tax records, proof of income, bank statements, copies of outstanding invoices, property and loss statements, year-to-date earnings, or articles of incorporation.
The amount you can borrow varies according to your loan type, credit score, and business revenue. For most products, the higher your revenue and credit score, the more you can potentially borrow. Take a look at some estimates of possible loan caps by loan type:
| Loan Type | Amount Provided |
|---|---|
| Business term loans | From $2,000 to $5,000,000 |
| SBA loans | From $500 to $5,000,000 |
| Microloans | Normally less than $500 |
| Merchant cash advance | Up to 250% of your credit card sales or $250,000, whichever is less |
| Equity financing | Varies depending on the value of your business |
| Debt financing | Negotiable between you and the bond purchaser |
| Invoice factoring | No limit, but typically greater than $2,000 |
Your repayment term varies depending on numerous factors, including your type of loan, loan amount, and credit score. Here’s a breakdown of common repayment terms by loan type:
| Loan Type | Repayment Terms |
|---|---|
| SBA loans | From three to 30 years |
| Business term loans | From three months to 10 years |
| Business line of credit | From six to 36 months |
| Merchant cash advance | Daily, weekly, or monthly payments |
| Equity financing | N/A |
| Invoice factoring | N/A |
| Debt financing | Varies |
Additionally, your APR will vary based upon the details of the agreement you reach with your lender. Although Lendzi does not illustrate current interest rates for its products, you can use one of the loan calculators on its website to estimate your loan’s APR.
Lendzi does not provide details on its website of the specific security measures it takes to protect your personal information. If you have a privacy or security concern, you can send an email to sales@lendzi.com.
Lendzi is accredited by the Better Business Bureau (BBB) and currently enjoys an A+ rating. Presently, it has more than 600 reviews on Trustpilot with a total rating of 4.9 out of 5 stars.
You can contact Lendzi’s customer service team by phone from 8am to 6pm PST, Monday-Friday, and from 8am to 2pm on Saturday. If you prefer, you can send inquiries via email or call outside regular business hours and leave a voicemail. Lendzi’s agents usually follow up on quote requests within one business day.
Phone: (877) 453-6394
Email: Sales@lendzi.com
Lendzi is a loan aggregator that partners with more than 60 lenders to find you the best financing terms available. It doesn’t cost anything to use Lendzi’s services, and you can get a personalized quote in minutes without a hard credit check. Hundreds of small businesses have used Lendzi’s services to secure the capital they needed to stay afloat or expand their operation. Whether your business needs funding quickly or you just want to compare multiple offers at the same time, consider giving Lendzi a try.
12211 W Washington Blvd, Los Angeles, CA 90066
368 9th Ave, New York, NY 10001
150 E Palmetto Park Rd, Boca Raton, FL 33432
This review was created with information gathered from Lendzi’s website, reviews on comparison sites, and conversations with Lendzi’s customer service team.
