Lendistry Review

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

Updated on June 26th, 2019

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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:

Founder

Everett Sands

Founded

2015

Headquarters

Brea, CA

Number of Employees

11-50

CEO

Everett Sands

Address

330 E Lambert Road, Suite 275, Brea, CA 92821

Phone Number

+1 562-242-2900

Website

www.lendistry.com

News & Activity:

Date

News or Activity

June 26, 2018

Industry Veteran Kathy Gonzales Joins Lendistry

June 20, 2018

Royal Business Bank Reaffirms Commitment to Community Investment With $1MM to Lendistry's CRA Loan Fund

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.

See Lendistry's list of loan options.

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.

Learn more about Lendistry.

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.

Get more info on Lendistry.

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.