Lender review
Lendistry Business Loans, Reviewed
A minority led CDFI and SBA Preferred Lender offering bank competitive rates for established businesses, especially in underserved communities.
Lender review
A minority led CDFI and SBA Preferred Lender offering bank competitive rates for established businesses, especially in underserved communities.
Lendistry has distributed more than $10.5 billion to over 640,000 small businesses since 2015 as a US Treasury certified Community Development Financial Institution and SBA Preferred Lender, with a specific focus on underserved communities. Its rates, starting around prime plus 2 percent, undercut nearly every fast funder on this network, and businesses in qualifying low income, minority owned, woman owned, or veteran owned categories can access even more favorable subsidized pricing. The tradeoffs are real: a $25,000 minimum loan size, a 650 credit score bar, and a process that takes one to three weeks rather than same day.
Lendistry offers SBA 7(a) loans, business term loans, and a non-revolving line of credit from $25,000 to $10 million, all through a fully online application backed by human loan specialists.
What sets Lendistry apart is its mission alongside its pricing. As a certified CDFI, it receives federal capital that subsidizes lending in low income census tracts and for minority owned, woman owned, and veteran owned businesses, which is part of how it can offer rates competitive with a bank while still approving businesses that a traditional lender might turn away.
Prequalify in minutes without affecting your credit score.
Exact rates and loan amounts vary by product and by applicant; see the product breakdown below for details on each one.
Lendistry funds three core products directly, all evaluated with underwriting closer to a bank process than a fast online funder.
| SBA 7(a) loan | Government backed financing with rates from roughly WSJ prime plus 2.25 percent to prime plus 6.5 percent, requiring a 650 or higher credit score, or 700 or higher for businesses under 2 years old. |
| Business term loan | $25,000 to $5 million, with rates from roughly WSJ prime plus 2 percent to prime plus 10.99 percent depending on your qualification tier and whether you fall into a subsidized category. |
| Non-revolving line of credit | Structured access to capital for businesses that need flexibility without the ongoing revolving structure of a traditional line of credit. |
Rate, term, and amount figures are set per applicant during underwriting.
Lendistry’s underwriting looks closer to a bank process than a fast online funder, with real documentation requirements to match its bank competitive rates.
For most loans, Lendistry’s minimum credit score is 650. Its community loan fund program can accept scores as low as 620, while SBA loans for businesses under 2 years old require 700 or higher.
Lendistry generally looks for 2 or more years in business, though it participates in startup financing programs that offer more flexibility.
Expect to provide 2 to 3 years of tax returns, 6 months of bank statements, profit and loss statements, a personal financial statement, and a business plan for loans over $250,000.
Businesses located in a low income census tract, or that are minority owned, woman owned, or veteran owned, may qualify for Lendistry’s subsidized, below market rate programs.
The application runs through Lendistry’s secure MyLendistry portal, with human loan specialists available to help along the way.
Submit your application through the MyLendistry portal. This uses a soft credit pull and does not affect your credit score.
A human loan specialist reviews your documentation and helps match you to the right product, including any subsidized rate programs you may qualify for.
Once underwriting is complete, funding for non-SBA products typically takes 1 to 3 weeks from application.
Pricing starting around prime plus 2 percent beats nearly every fast funder on this network.
As a certified CDFI, Lendistry directs federal capital toward underserved communities, not just marketing language.
Minority owned, woman owned, veteran owned, and low income census tract businesses can access below market pricing.
You do not need to visit a branch, even though the documentation requirements resemble a traditional bank loan.
$10.5 billion distributed to over 640,000 small businesses since 2015 backs up Lendistry’s SBA Preferred Lender status.
A $25,000 minimum loan size puts this out of reach for businesses that need a smaller amount.
650 credit score and generally 2 years in business exclude newer or credit challenged businesses from Lendistry’s core products.
Even with a streamlined online application, funding takes 1 to 3 weeks, ruling this out for a same day cash need.
Yes. Lendistry is a US Treasury certified CDFI and SBA Preferred Lender that funds its loans directly.
For most loans, Lendistry’s minimum credit score is 650. Its community loan fund can accept scores as low as 620, while SBA loans for businesses under 2 years old require 700 or higher.
Funding for non-SBA products typically takes 1 to 3 weeks from application, closer to a bank timeline than a fast online funder.
Lendistry offers SBA 7(a) loans, business term loans from $25,000 to $5 million, and a non-revolving line of credit.
Lendistry generally looks for a 650 or higher credit score and 2 or more years in business, along with 2 to 3 years of tax returns and 6 months of business bank statements.
Yes. As a certified CDFI, Lendistry offers subsidized, below market rates for businesses located in low income census tracts or that are minority owned, woman owned, or veteran owned.
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