Lendzi Reviews

While not a direct lender itself, Lendzi is a financial services company that connects small business owners and people to a wide variety of business and personal loans. It offers a variety of loan products, including real estate loans, U.S. Small Business Administration (SBA) loans, startup business loans, small business loans and personal loans. You don’t need to undergo a hard credit check for a loan quote.

Lendzi was founded in 2020 and is based in Los Angeles, California, with other offices in New York, Florida and Texas. The company has over 60 partnerships with lending institutions.

Lendzi promises clients fast funding — sometimes in as little as 24 hours. Consumers can also sign up to be lenders on Lendzi. Reviews suggest Lendzi has good, responsive customer service.

Lendzi offers a variety of products:

Lendzi also offers student loans.

The interest rates for loans Lendzi finds may vary based on the credit profile of a business or individual. For small business term loans, rates can vary between 6% and 30%, according to Lendzi’s website.

According to Daniel Plom, Lendzi’s director of business development, “Lendzi offers competitive rates for both merchant cash advances (MCAs) and business lines of credit. As of today, MCA rates typically range from 1.2% to 1.5% per week of the amount financed, while business line of credit rates range from 6% to 20% annual percentage rate (APR). The exact rate you'll receive depends on various factors, including your business’s financial health and the amount of funding you need.”

Fees at Lendzi may include the loan origination fee, which loan seekers pay for processing and funds delivery.

“At Lendzi, we aim to keep fees transparent and straightforward,” said Plom.  “For MCAs, there may be an origination fee, which is usually a percentage of the advance amount. For business lines of credit, fees can include a setup fee and potentially an annual fee. Specific fees will be outlined in your loan agreement, so you’ll have a clear understanding before committing.”

Lendzi is a free and no-obligation platform that connects people in need of a business loan with lenders.

To start the application process, go to the Lendzi website, scroll down to where it says “Apply” and click the “Ready to get started?” link. Then answer a few questions about your loan needs and Lendzi advisors will try to find you loan options for your specific circumstances.

Next, you should receive a list of loan options tailored to your needs. You can compare the terms and decide which is right for you. The last step is to get the funding, which Lendzi reports can come in as little as 24 hours.

Yes, Lendzi is a legitimate company that was founded in 2020 and has offices in four states, with headquarters in Los Angeles. It matches customers with loans tailored to their needs.