Lendzi vs. Fundible
Fundible is similar to Lendzi in that you can apply for many types of business loans, including term loans, business lines of credit and equipment funding. Fundible expands its offering, though, to invoice financing and SBA loans if you’re in the market for those.
Fundible offers even higher loan sizes than Lendzi, though like Lendzi the loan amounts vary from loan to loan. For example, Fundible’s equipment loan goes up to $10 million versus Lendzi’s $2 million. The exception is Fundible’s business line of credit with limits ranging from $1,000 to $500,000. Through Lendzi, you can access limits between $5,000 all the way to $5 million.
Fundible takes personal credit scores in the bad-credit range. Officially, most of its business loans allow scores in the 500s. A representative stated that it can work with business owners whose minimum personal credit scores have dropped to 450.
Lendzi vs. 1West
1West and Lendzi are both loan marketplaces with dozens of in-network lenders, though Lendzi’s 60 partners slightly beat out 1West’s 50. Both marketplaces accept startups. 1West allows businesses with just three months under their belt, while Lendzi needs a more common six months in business.
Overall, 1West is the more lenient of the two, especially when it comes to credit score. Most business loans through 1West let you apply with personal credit scores starting at 500 — or even no minimum credit score for accounts receivable financing.
The main downside is that 1West lenders may deposit funds more slowly than Lendzi partners. 1West states that its lenders’ fastest funding speed is 48 hours, and some loans can take weeks. For Lendzi, the timeline to receive funds is just 24 hours.