Time in business:
Lendified is a Canadian lender founded by former bank executives who wanted to better serve the small business community. Their simple online application allows you to apply in minutes, get a free quote instantly, and receive funding in as fast as 48 hours. They're one of Canada's fastest growing online lenders for small businesses and provide cutting-edge lending technology to financial institutions across North America.
Products Offered
AMOUNT
$5,000 - $150,000
INTEREST RATE
8.99% - 18.99%
TERMS
3 - 24 Months
Business Loan
Conditions & Rates
Interest rate 8.99% – 18.99% Amount $5,000 – $150,000 Term 3 – 24 months
Eligibility & Documents
Who is eligible
- 6+ months in business
- 610+ credit score
- At least $100,000 in total revenue in the past 12 months
- Positive cash flow
What you need to provide
- Government issued identification
- Business banking statements
Repayment & Issuance
How fast can you get the money As fast as 48 hours Funding method Direct bank deposit How does repayment work Fixed bi-weekly payments with no prepayment penalty if paid from cash flow
Contact information
372 Bay St 20th floor, Toronto, ON M5H 2W9
Availability:
All of CanadaSupport Offered:
- Web Chat
- Help Center/Blog
- Email Support
Call Center:
9AM-5PM EST Mon-FriFrequently Asked Questions About Lendified
What is Lendified?
What Products and Services Does Lendified Offer?
Lendified offers business loans in Canada. Funding can be used for things like inventory and sourcing, equipment, expansion and more.
What Is the Interest Rate on a Lendified Loan?
The interest rates on Lendified loans range from 8.99% to 18.99%.
How to Qualify for a Lendified Loan?
To qualify for a Lendified loan, you must be in business for 6+ months, have a 610+ credit score, have earned a minimum of $100,000 in total revenue in the past 12 months and have a positive cash flow. You'll also need to provide government issued identification and business banking statements.
How Fast Can I Get a Loan from Lendified?
With Lendified you can get your funds within 48 hours after approval.
How Does Loan Repayment Work at Lendified?
Lendified loans are repaid through pre-authorized payments from your bank account bi-weekly with no prepayment penalty if paid from cash flow.
What Kind of Customer Support Does Lendified Offer?
You can contact Lendified customer support by filling out their email form, by calling them directly, they also have a web chat, and you can view their blog/help centre for answers to commonly asked questions.
Is Lendified Safe?
Lendified has helped hundreds of entrepreneurs and built a team of funding specialists, technologists, and service experts dedicated to delivering a great borrowing experience. Lendified is a member of the Canadian Lenders Association and has been in business since 2005. They've been featured in Bloomberg, the Financial Post and the Globe and Mail.
How Much Can I Borrow from Lendified?
You can borrow $5,000 to $150,000 from Lendified.
What Is the Term Length for a Lendified Loan?
Terms on a Lendified loan is between 3 and 24 months.
Can I Apply Online for a Lendified Loan?
Yes, Lendified's technology allows you to qualify for business financing anywhere, anytime.
How Will Lendified Send Me the Loan?
The loan proceeds are deposited directly into your bank account.
Which Provinces Is Lendified Available in?
Lendified is available in all of Canada.
What are Lendified Working Hours?
You can apply for a Lendified loan online any time or they can be contacted by phone, Monday through Friday from 9AM to 5PM EST.
Lendified Reviews
Avg. Rating: 4.8 (3 reviews)
Beyond Expectations
March 26, 2018
“Finally someone who understands your business potential. Their team has an amazing background in financing but besides just looking at numbers they take the time to learn a little bit more about you and about your business with the best intention to help... not exa...”
Lendified provides excell...
December 30, 2018
“Lendified provides excellent communication and customer service. They do their best to work with you and help you get what you need to ensure your success. I would use them any time!”
Honest & Fair
September 12, 2019
“From my very first conversation with Lendified on the phone I felt good. These guys have very good rates and they seem very fair, transparent and honest. They are doing a lot of things right. ”
