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Lendza Review: Pros, Cons, & How to Apply

The number of traditional and alternative lenders available today makes it difficult for small businesses to locate the best options for their needs and qualifications. You can visit a local bank or apply to one of the many online funders.

Services like Lendza aim to reduce the guesswork and time-consuming research of finding a funder. Business owners can apply to the service once, and it tries to pair you with the best lender for your needs.

However, Lendza might not be suitable for every small business. Some business owners prefer working with a direct funder. Others might want a full-fledged marketplace that provides additional services.

We can help you decide if Lendza is right for your business by covering the benefits, drawbacks, and application process. Specifically, we’ll answer these questions and more:

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    What is Lendza?

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    Lendza is a small business loan connection service. The company helps match potential borrowers to the lenders in its network.

    Small business owners seeking funding up to $350,000 can apply to the service to see their available lender and loan options. Once paired, applicants will complete the application process with the lender.

    The service launched in 2015. It’s based in Los Angeles, CA.

    How does Lendza work?

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    The service helps connect small business owners seeking funding between $5,000 and $350,000 to lenders that match their qualifications. You provide information about your business, and the company analyzes it to find the financial institution where you will most likely qualify.

    Once it makes the introduction, the lender you match with takes over the remainder of the process. You’ll complete the lender’s application and provide any necessary documentation for underwriting to receive funding. If approved, the lender services the loan.

    Lendza can help business owners find the following small business loans. All listed terms and rates are approximations, as it depends on the lender you work with.

    Here are the listed financing options.

    Accounts Receivable Financing

    • Advance amount: Up to 80% of the outstanding balance.
    • Term: Up to 90 days.
    • Rates: 5% – 12%.
    • Funding time: As soon as one business day.

    Accounts receivable financing converts unpaid invoices into immediate working capital. It can help businesses that sell on credit who struggle with cash flow do the delay between issuing an invoice and receiving payment.

    The funder who Lendza matches you with will most likely be an invoice factoring company. It will issue the advance amount for a percentage of the invoice’s value, up to 80%.

    The factoring company then owns the debt and collects payment from your customers. Once payment is received, it issues the remaining amounts minus its fees.

    Factoring fees are also called discount rates because the factoring company purchases your invoices at a discounted rate in exchange for an immediate cash advance. It is technically not a loan but a business-to-business transaction.

    Business Line of Credit

    • Loan amount: Up to $100k.
    • Term: Up to 20 years.
    • Rates: 7% – 25%.
    • Funding time: 1-2 weeks.

    A business line of credit provides business funding on demand. You get an available credit limit and can draw funds as needed.

    You only pay interest on the funds you draw. The service’s lender partners offer revolving lines or credit. That means it’s like a credit card where your available credit limit replenishes as you repay what you used.

    Equipment Financing

    • Advance amount: Up to 100% of equipment cost.
    • Term: 1-6 years.
    • Rates: 7.5%-45%.
    • Funding time: As soon as one business day.

    Equipment financing provides funding to acquire needed business equipment. In most cases, the lender pays the equipment vendor directly.

    The equipment you finance is the collateral for the loan. The lender holds a lien on the equipment until it’s paid in full.

    Merchant Cash Advance

    • Advance amount: Up to $200k.
    • Term: Up to 9 months.
    • Rates: 1.14 – 1.48.
    • Funding time: As soon as one business day.

    A merchant cash advance (MCA) is a short-term funding option that provides working capital in a lump sum. The amount you receive is typically based on your sales history and projected future sales.

    Merchants repay the advance with a percentage of their future sales. Some companies take the payment directly from your credit card reader. Others use an ACH transfer directly from your business bank account.

    Since repayment comes directly from your sales, MCA funders focus more on business performance than a credit score or time in business. Some MCA companies don’t have a minimum credit score requirement. MCAs also offer fast funding times, usually 1-3 business days after approval.

    The tradeoff for the lower qualifications and fast funding is that it’s one of the more expensive funding options. MCA providers usually apply factor rates, which are easy to calculate.

    If you received an MCA for $200,000 at a factor rate of 1.25, you’d multiply the advance amount by the factor rate:

    $200,000 x 1.25 = $250,000. You’d pay $50,000 for the advance of $200k.

    You can think of the charge as “interest,” but it’s actually a transaction. The MCA company purchases $250,000 of future receivables for an advance of $200k. Factor rates are sometimes called “buy rates” for this reason.

    Business Term Loan

    • Loan amount: Up to $350k.
    • Loan terms: Up to 5 years.
    • Rates: 7% – 30%.
    • Funding time: As soon as one business day.

    A business term loan is a traditional lending product where you receive a large disbursement to cover a business need or to use as working capital. These traditional loans are repaid with interest and fees in fixed monthly payments.

    The service offers a short-term loan as well. It operates like a traditional term loan but has shorter repayment terms, typically less than 18 months. Short-term loans are easier to qualify for but have higher interest rates.

    What are the qualifications for Lendza?

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    It doesn’t publish a minimum credit score requirement because it depends on the lending product and lender. The company states its lenders also look at your business credit score if available.

    The company suggests you should meet the following minimums:

    • Time in business: At least 3 months (some startup funding might be available).
    • Annual revenue: At least $50k.
    • Net operating income: At least 1.25 more than your expenses.

    For Lendza, You Need to Know That:

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    It is not a direct lender but rather a business loan referral service. Once it connects you with a lender, its job is done. Everything else is between you and the loan provider.

    There is no application or service fee. This suggests that Lendza makes money from referral fees that lenders pay them. However, if you proceed with funding from the lender, watch for any additional fees added to the loan agreement.

    The company only performs a soft credit pull when you apply, which won’t affect your credit score. However, the funder it matches you with might do a hard credit check, which could impact your credit score.

    Lendza does not appear to have a business loan affiliate program. It is already a referral service, so that might be why. However, ISOs and business loan brokers can still contact them to inquire about using the connection service.

    How to apply to Lendza:

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    The application process is very quick and easy. Follow these steps to apply.

    Step 1: Fill Out the Form

    The website provides a simple sign-up form that asks for information about you, your business, and your funding needs. It uses data encryption to secure your information.

    Step 2: Get Paired

    Once you submit the form, the connection service will try to find a funding provider. It’s possible to get a match within minutes of applying.

    Step 3: Work with the Provider

    Once paired, Lendza’s role in the process ends, and you’ll work with the funder to complete the loan application. The company claims it only works with the “most respectable lenders.”

    Lendza, Post Funding:

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    The repayment process depends on the lender you work with and the loan type you receive. Lendza is not involved in post-funding or even funding, so it all depends on the lender.

    Term loans and business lines of credit carry daily, weekly, or monthly payments. Most equipment financing uses fixed monthly payments, but some lenders let you pay quarterly.

    Merchant cash advances are usually automatic daily payments taken directly from your credit card processor or business bank account. Some MCA funders allow weekly payments instead.

    Accounts receivable financing is repaid when your customers pay their invoices. The longer it takes for them to pay, the more your costs add up. Late-paying customers can make invoice factoring very expensive.

    Prepayment penalties, early payment discounts, and renewals depend on the lender. Read the funding agreement carefully to ensure you understand the repayment structure and can afford the payments. Taking on financing payments your business can’t afford can trap your business in a cycle of debt that’s difficult to escape. In worst-case scenarios, your business could become so overleveraged it’s forced to close.

    Here are some essential questions to ask the lender to help you understand and manage repayment:

    • Does this loan have any early payment discounts or penalties?
    • What is the payment frequency?
    • Are there flexible payment options available?
    • When will my first payment be due?
    • Can I set up automatic payments to avoid missing a deadline?
    • How can I track my repayment progress?
    • Do you provide a dedicated team member in case of questions during repayment?
    • When will I be eligible to renew funding?
    • Do you allow stacking (carrying more than one loan at a time)?

    What are the advantages of Lendza?

    The primary advantage of Lendza is that it helps you find lenders where you might qualify without having to research them on your own. It sends your information to the lender to start the process, making it easier to finalize your loan request once it pairs you.

    The application process is quick and straightforward. You could get paired with a lender the same day you apply.

    Many of the lenders and loan products provide fast funding. Alternative funding options like merchant cash advances are much easier to qualify for, which is why there’s no minimum credit score requirement.

    What are the disadvantages of Lendza?

    Lendza is not a direct funder nor a lending marketplace. It is a referral service that doesn’t help beyond connecting to a lender.

    Since its role ends after making the connection, it cannot provide eligibility information. Most of the terms and rates listed are approximations as it depends on the lender, loan, and your qualifications.

    Several of the products carry higher rates than traditional financing. That’s the tradeoff for accessibility and speed of funding.

    The connection service only helps small business owners seeking $350k or less. There are no options for higher borrowing amounts.

    Pros & Cons

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    • Helps find lenders where you’re most likely to get approved.
    • Quick and easy application process.
    • It’s possible to get paired with a lender the same day you apply.
    • Several fast funding options.
    • No minimum credit score is required to apply.


    • Not a direct lender or lending marketplace.
    • It doesn’t provide any service beyond pairing you with a lender.
    • Cannot give accurate estimates on rates and fees.
    • Several products are more expensive than traditional funding.
    • Funding options through its lender network only go up to $350k.

    Apply for business funding through United Capital Source today.

    Lendza Frequently Asked Questions

    Is Lendza Legit?

    Yes, Lendza is a legitimate business loan connection service. The company is verified on Trustpilot, and its website has a TrustedSite™ certification.

    What do Lendza reviews typically focus on?

    There aren’t many reviews available, and the few we could find were mixed. It has a 3.8 out of 5 rating on 38 Trustpilot reviews.

    We should note that many of the reviews are incomprehensible and from users whose only reviews on Trustpilot are for Lendza. That may suggest some of the reviews are less than reliable.

    The positive reviews discuss the ease of the service. Multiple customers expressed hope the service would connect them to a lender where they could get funded.

    Customers who left negative reviews discussed not getting approved with the paired lender. One user stated that the company doesn’t ask enough questions to pair companies and lenders accurately.

    What if Lendza denies my loan request?

    Lendza does not underwrite or approve loans. They merely refer you to lenders where you might qualify. If you get denied, it’s most likely that the lender you paired with doesn’t approve the loan request.

    Whether Lendza or the lender denies your request, the denial letter should explain why. You can contact the lender for more information.

    Fortunately, there are many lenders and marketplaces to consider if Lendza doesn’t work. You can apply to a direct funder or a marketplace that can help with pre-approval, underwriting, and repayment.

    You might be interested in one of the following small business loans:

    Making Your Decision

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    Lendza is best suited for small businesses seeking $350k or less that don’t know where to start. The connection service helps you locate lenders that match your credit profile, business type, industry, and funding need.

    Businesses that prefer working with a direct funder or marketplace that can offer ongoing customer service must find a different option. The service won’t be a good fit if you’re seeking larger amounts than $350k or want a service that offers renewals. Established businesses with excellent credit and high revenue can typically qualify for more advantageous funding options, like SBA loans.

    Based on customer reviews and the functionality of the referral service, we rate the company at a 3.2 out of 5. It could be a viable option to help you quickly find fast funding options, but its lack of information or additional services limits how it can help your business grow.

    Disclaimer: The Lendza trademark is owned by Lendza and its use herein is for reference purposes only and it does not indicate sponsorship or endorsement from Lendza.

    Apply for business funding through United Capital Source today.

    Why Choose United Capital Source?

    Why businesses choose UCS:

    Quick funding options that won’t affect credit
    Access to 75+ lenders with multiple products to choose from
    Financing up to $5 million in as few as 3 days
    1500+ 5 star reviews from happy clients!

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        At UCS, we understand the value of your time and want to ensure that your application has a great chance of approval. Please take note of the following details before applying:
        • To be eligible, it’s necessary to have a business bank account with a well-established U.S. bank such as Chase, Wells Fargo, Bank of America, Citibank, or other major banks. Unfortunately, online-based bank accounts like PayPal, Chime, CashApp, etc., are not permitted.
        • When describing your current average monthly sales deposits to your business bank account, please provide accurate information. Our approval process is based on your current business performance, and it’s essential to provide accurate details about your current sales in the first question on the application form. We cannot approve applications based on projected revenues after receiving funding.
        We appreciate your understanding and cooperation in ensuring a smooth and successful application process.
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