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Lendzi Small Business Loans: 2024 Review

Updated Apr 19, 2024

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At a glance

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Rating: 4.1 stars out of 5
Bankrate Score
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Rating: 4.9 stars out of 5
Rating: 3.3 stars out of 5
Customer experience
Rating: 4.3 stars out of 5
Rating: 3.8 stars out of 5
Rating: 4.2 stars out of 5
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Lendzi covers a variety of small business loans through a broad 60-partner network. Business owners can access short- and long-term loans, business lines of credit, equipment financing, merchant cash advances and more.

Lender Details

  • Moneybag

    Loan amount

    $5,000-$5 million

  • Rates

    Interest rate

    Factor rates from 1.10 | Simple interest rate from 3.49%

  • Clock Wait

    Term lengths

    3-84 months

  • Dollar

    Min. annual revenue


  • Business

    Min. time in business

    6 months

Who Lendzi is best for

Lendzi accommodates small businesses turned down by traditional lenders or businesses seeking a large amount of funding. Specifically, your business can gain millions of dollars in funding from equipment loans, lines of credit or merchant cash advances. 

Who Lendzi may not be best for

Lendzi may not be the best choice if you’re looking for low-interest business loans. Most loans through the marketplace have higher starting maximum interest rates compared to other lenders. Some loans also use factor rates, known for being more expensive than comparable interest rate loans. 

Lendzi: in the details

Lendzi pros and cons


  • Checkmark

    High loan amounts

  • Checkmark

    Accepts bad credit

  • Checkmark

    24-hour funding


  • Close X

    Mixed loan details from reps

  • Close X

    High rates and fees

Business loan types offered

Loan quick facts

  • Amounts: $5,000 to $5 million 
  • Terms: 6 to 18 months
  • Factor rate: 1.1 to 1.42

Lendzi business line of credit overview

A business line of credit is the revolving door of business loans, allowing business owners to tap the available credit repeatedly as they need funding. Most online business loans finance loan amounts up to $250,000, but qualified businesses could see credit limits up to $5 million through Lendzi. You will need at least one year in business and a 600 personal credit score to be considered.

Loan quick facts

  • Amounts: $5,000 to $250,000
  • Terms: Up to 24 months
  • APR: from 29.90%

Lendzi short-term loan overview

Short-term business loans are marked by low loan sizes and repayment terms of 24 months or less. Through Lendzi, short-term loans can go up to the 24-month mark. But while the nearly 30 percent APR starting rate isn’t unheard of, it’s on the upper end of interest rates for business loans. You also need a higher 625 minimum personal credit score to be considered for this type of loan.

Loan quick facts

  • Amounts: $25,000 to $500,000
  • Terms: 6 to 84 months
  • Simple interest: 11.29% to 30.12%

Lendzi long-term loan overview

Lendzi long-term loans have repayment terms of up to seven years, which is helpful if you need more time to manage monthly payments on a loan. You will need a 660 minimum personal credit score, slightly higher than you need to apply for other loans through Lendzi.

Loan quick facts

  • Amounts: Up to $400,000
  • Terms: 3 to 15 months
  • Factor rates: from 1.15

Lendzi working capital loan overview

A working capital loan is a short-term loan designed to increase the capital you have to expand your business or finance a purchase like equipment or inventory. Lendzi partners offer standard features for working capital loans, including mid-level loan sizes and short repayment terms of up to 15 months. Partnering lenders do drop the minimum personal credit score as low as 500, making it a solid type of bad credit business loan

Loan quick facts

  • Amounts: Up to $2 million
  • Terms: 12 to 84 months
  • Simple interest: 3.49% to 28.00%

Lendzi equipment loan overview

An equipment loan is a term loan designed specifically for a company to purchase equipment. Many online equipment loans stop funding around the $500,000 level. Yet Lendzi lenders go the distance for small businesses, providing up to $2 million in funding. Lendzi representatives stated that this loan allows for personal credit scores of at least 550. 

Loan quick facts

  • Amounts: $5,000 to $5 million 
  • Terms: 3 to 15 months
  • Factor rate: from 1.1 

Lendzi merchant cash advance loan overview

Merchant cash advances help you achieve alternative financing when your business isn’t a fit for a conventional business loan. Lenders approve the financing based on your debit and credit card sales, and typically take a percentage of future sales to satisfy repayment. 

Lendzi small business loan partners can fund million-dollar initiatives, which is a heftier sum than most online lenders offer. The downside is that lenders charge a factor rate, a fee that’s applied to the entire loan amount that can lead to high borrowing costs. You will need at least a 600 personal credit score to qualify. 

Do you qualify? 

Lendzi can connect you with lending partners all across the U.S. without limitations on where your business is located. Most loans have the following minimum requirements:

  • 500 minimum personal credit score
  • $120,000 in annual revenue
  • 6 months in business 

While Lendzi can serve a variety of businesses, it doesn’t offer business loans to these industries: auto sales, bail bonds, gambling, collection agencies, credit repair, non profits, multi level marketing.

What we like and what we don’t like

Lendzi can cover an expanse of business loans, made possible by its broad base of 60 partnering lenders. The pros and cons of this loan marketplace include: 

What we like: 

  • Flexible loan range. Small business owners can get as little as $5,000 in funding all the way up to $5 million, a wide range flexible enough for a variety of project sizes. 
  • Accepts bad credit. Lendzi accepts minimum credit scores at 500 — or lower in some cases. While this standard is common with online lending, traditional banks usually set the standard much higher, such as at 670. 
  • Funding within 24 hours. You can finance your business within 24 hours in some cases. This is speedy considering traditional lenders can take several days to weeks to fund. 

What we don’t like

  • Mixed loan details from reps. Representatives provided some mixed information about its loans, such as whether or not a personal guarantee is required or what is the bottom-level credit score.
  • High rates and fees. Lendzi partners may charge high interest rates in the 30-percent range or opt for factor rates. Factor rates trend toward high borrowing costs because they often convert to high interest rates


How Lendzi compares to other lenders

Lendzi offers similar business loans and funding timelines as other loan marketplaces available online. But in some instances, businesses needing bad credit business loans will have more options elsewhere.

Rating: 4.1 stars out of 5

Bankrate Score

  • Loan amount

    $5,000-$5 million

  • Interest rate

    Factor rates from 1.10 | Simple interest rate from 3.49%

  • Term lengths

    3-84 months

  • Min. time in business

    6 months

  • Min. business annual revenue


Rating: 4.7 stars out of 5

Bankrate Score

  • Loan amount

    $5,000-$10 million

  • Interest rate

    0.75% Monthly rate | 5.00% to 18% Simple interest

  • Term lengths

    1-10 years

  • Min. time in business

    6 months

  • Min. business annual revenue


Rating: 4.5 stars out of 5

Bankrate Score

  • Loan amount

    $5,000-$20 million

  • Interest rate

    5.00% APR

  • Term lengths

    2 months-25 years

  • Min. time in business

    3 months

  • Min. business annual revenue

    $120,000; N/A for real estate loans

Read our review

on Bankrate

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.

How to apply for a loan with Lendzi

Filling out the application to prequalify for a loan takes just a few minutes with Lendzi. You will be required to create an account, personalizing and storing your loan application details. What you’ll need to apply:

Required application information:

  • Business entity
  • Business name
  • Location
  • Funding amount requested
  • Product and service provided

You may also need business financial and bank documents to finalize the loan.

Lendzi frequently asked questions

How Bankrate rates Lendzi

Overall Score 4.1
Accessibility 4.9 Small business owners can apply for a wide range of loan amounts through Lendzi. They can also access funding with fair or poor credit.
Affordability 3.3 Some Lendzi partners have high maximum interest rates or charge high-cost fees known as factor rates.
Transparency 3.8 Lendzi outlines a solid amount of information about partners’ loans. Yet some details provided are conflicting.
Customer experience 4.3 You can prequalify to see multiple loan options in one speedy application. You will need to create an account first.
Flexibility 4.2 Lendzi provides plenty of business loan options to cover different funding needs.


Clock Wait
years in business
Credit Card Search
lenders reviewed
loan features weighed
data points collected

To select the top small business lenders, Bankrate considers more than 20 factors. These factors include loan amounts, approval and funding times, credit requirements, APR or factor rate ranges, fees, and easy-to-find rate and fee disclosures. Bankrate reviewed more than 30 lenders and gave each a rating, which consists of five categories:

  • Accessibility: Factors considered in this category include minimum loan amounts, approval and funding speed, minimum annual revenue and minimum credit score.
  • Affordability: This section measures interest or factor rates and fees.
  • Transparency: How easy it is to find important rates, fees and eligibility requirements are considered in this category.
  • Customer experience: Customer service hours, online applications and app availability are considered in this category.
  • Flexibility: This category considers factors like the number of loan products and ability to change payment due date.

Editorial disclosure: All reviews are prepared by staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the lender’s website for the most current information.