Lendtek: Compare and Access Business Loans Directly from Your Phone
Lendtek is a mobile application that provides small business owners with a streamlined platform to find and compare financing options. The core function of Lendtek is to match a user’s business profile with over 65 trusted lenders, presenting a curated list of potential loan offers. This process, which does not impact the user's credit score, allows entrepreneurs to efficiently evaluate terms, rates, and funding amounts. Users choose Lendtek for its centralized, transparent marketplace, which simplifies the complex task of securing capital and helps business owners make informed financial decisions quickly and securely.
Instantly Matching Your Business to Lender Criteria
The Lendtek platform begins by analyzing your business's financial health against the specific underwriting criteria of its extensive lender network. To start, users link their business bank accounts directly within the Lendtek app to provide a clear financial snapshot. Lendtek’s technology then processes this data without a hard credit inquiry, instantly generating a list of pre-qualified offers. This initial matching step saves significant time, as Lendtek does the heavy lifting of identifying which lenders are most likely to approve your business for a loan, all within a single, secure application.
Comparing Transparent Loan Offers in a Unified Portal
After the matching process, Lendtek presents all available loan options in a single, easy-to-navigate lender portal. Users can scroll through the list of offers from partners like Kabbage, BlueVine, and National Funding. Each listing clearly displays critical details such as the annual percentage rate (APR), repayment term, total loan amount, and any associated fees. This side-by-side comparison is a central feature of Lendtek, empowering business owners to weigh the pros and cons of each proposal and select the product that best aligns with their company's needs and cash flow.
Applying and Uploading Documents with Mobile DocuScan
Once a user selects their preferred loan option, Lendtek facilitates a seamless application process. Lendtek’s integrated DocuScan feature allows users to photograph and upload necessary financial documents, such as tax returns or bank statements, directly from their mobile device. All documents and application data are securely transmitted to the chosen lender through the Lendtek client portal. This eliminates the need for physical paperwork, faxing, or scanning emails, significantly accelerating the funding timeline and demonstrating Lendtek’s commitment to a fully digital, efficient user experience.
Drawing Funds and Managing Existing Loan Balances
For users who secure a line of credit or similar flexible product through Lendtek, Lendtek provides ongoing account management tools. Business owners can log in at any time to draw funds up to their approved limit directly to their linked bank account. Furthermore, Lendtek consolidates the management of any existing loans obtained through its platform. Users can check their current balance, review upcoming payment schedules, request payoff letters, and make payments, all from a single dashboard. This makes Lendtek a lasting tool for financial oversight.
Monitoring and Building Business Credit with Experian
Beyond connecting users with capital, Lendtek offers tools for long-term financial health. Lendtek provides direct access to business credit monitoring through its partnership with Experian. Users can view their current credit score and receive alerts for any changes. A standout feature is Lendtek’s ability to help users instantly boost their FICO® Score for free by factoring in positive banking history. This proactive approach to credit building, facilitated by Lendtek, can open doors to better financing terms and more opportunities in the future.
Key Features
Instantly matches your business profile with over 65 trusted lenders.
Compare pre-qualified loan offers with transparent terms and rates.
Upload application documents securely using mobile DocuScan technology.
Draw funds and manage existing loan balances from a unified dashboard.
Monitor and build your business credit score through an Experian partnership.
Entire process is free to use and does not affect your credit score.
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