What is Lendified?
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.
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.
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.
How Much Can I Borrow from Lendified?
You can borrow $5,000 to $150,000 from Lendified.
What Is the Interest Rate on a Lendified Loan?
The interest rates on Lendified loans range from 8.99% to 18.99%.
What Is the Term Length for a Lendified Loan?
Terms on a Lendified loan is between 3 and 24 months.
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.
Can I Apply Online for a Lendified Loan?
Yes, Lendified's technology allows you to qualify for business financing anywhere, anytime.
How Fast Can I Get a Loan from Lendified?
With Lendified you can get your funds within 48 hours after approval.
How Will Lendified Send Me the Loan?
The loan proceeds are deposited directly into your bank account.
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.
Which Provinces Is Lendified Available in?
Lendified is available in all of Canada.
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.
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.