Lendistry Review

View Lendistry's financing solutions for your business. Includes key company information, loan options and frequently asked questions.

Updated on July 1st, 2020

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Lendistry is a business lender that provides short-term loans and other types of financing to small businesses. Small businesses can use Lendistry to finance new projects, purchase new equipment, and more.

Loan Options:

Loan Type

Amount

SBA Loan

$50,000.00 to $250,000.00

Traditional Loan

Up to $1,000,000.00

Express Business Line of Credit

Up to $250,000.00

Revolving Line of Credit

Up to $1,000,000.00

Real Estate Loan

$250,000.00 to $2,000,000.00

Lendistry Reviews
Review:

Pros: Open to high-risk industries, such as construction, trucking, and restaurant industries.

Cons: Charges a prepayment penalty of 2% of the loan amount if you pay your loan back within the first year.

Bottomline: Lendistry is a certified community development financial institution (CDFI) that is committed to providing affordable financing.

Key Information:

Legal Name

BSD Capital LLC dba Lendistry

Founder

Everett K. Sands

Founding Date

Oct 01, 2014

Address

330 E Lambert Road, #275, Brea, CA 92821 United States

Number of Employees

25

Number of Customers

14

Email

info@lendistry.com

Telephone

1 (844) 662-7297

Website

https://lendistry.com/

FAQs:

What is the maximum Lendistry loan amount?

The maximum amount that your business can borrow from Lendistry is $2,000,000.00 for a Real Estate Loan.

What documents does Lendistry require for my loan application?

  • 2 years of business tax returns.
  • 2 years of personal tax returns.
  • 3 months of business banking statements.

You also need to submit:

  • Your social security number.
  • A business tax ID number.
  • Your average monthly sales.

Will my credit score be affected after my Lendistry loan application?

No. Completing an online application will not effect your credit score. During the pre-approval process, Lendistry will perform a soft credit pull that will not effect your credit score. During the underwriting process, Lendistry will perform a hard credit pull that will show your full credit report.

What is the approval time frame for my loan application?

Lendistry usually responds to your loan application anywhere between 24-48 hours.

How soon can I get the funds once my loan has been approved?

Lendistry typically deposits the funds in your bank account anywhere between 10-20 business days.

Are there any costs to apply for a loan at Lendistry?

No. The loan application and quotes are free. Only if Lendistry issues a conditional approval do they charge $200.00 to cover third-party verification costs.

What are Lendistry's requirements to qualify for a loan?

  • A credit score of 640.
  • Two years in business.
  • Minimum monthly revenue of $12,500.
  • No bankruptcy within the last 3 years.
  • No default on government debt.

What prepayment penalties does Lendistry impose?

  • SBA Loans: no prepayment penalty.
  • Non SBA Loans: 3% prepayment penalty if paid off in year 1 and 2% prepayment penalty if paid off in year 2.
  • Lines of Credit: 3% prepayment penalty if the line is closed out in less than a year.

What are Lendistry's interest rates?

Lendistry's interest rates range from 6% to 12%.

How do I contact Lendistry to start my loan application?

You can call Lendistry at 1 (844) 662-7297, or use the contact form on their website.

Are there any alternatives to Lendistry?