Lendtek is a marketplace platform matching small businesses with 100+ lenders offering SBA loans, term loans, lines of credit, and merchant cash advances up to $15M.
Data compiled from public sources · Google rating shown when a stored review count is available
Lendtek operates as a business lending marketplace that has funded over $1 billion to small businesses across the U.S. over 9 years, facilitating 20,000+ loans. The platform functions as an intermediary rather than a direct lender, connecting applicants with a curated network of 100+ lending partners to identify the most suitable financing options based on individual business circumstances.
The company offers six primary loan products: SBA loans (up to $10M at 6-11.5%), traditional term loans ($5K-$15M as low as 8%), business lines of credit ($1K-$3M at 1.25-28%), merchant cash advances ($5K-$2M from 18%), equipment financing ($5K-$5M from 7.5%), and accounts receivable financing. Their application process emphasizes speed, claiming approval in minutes and fund delivery in as little as 24 hours for most products, with SBA loans taking up to 7 days.
Lendtek distinguishes itself through its technology-driven matching system that analyzes business data to pair applicants with optimal lenders, plus dedicated U.S.-based lending advisors certified by the American Bankers Association. The platform claims to maintain no negative impact on credit scores during the matching process and offers secure bank account integration through Mastercard for streamlined financial data review.
A key consideration is that Lendtek is a marketplace facilitator, not a lender itself—actual funding, terms, and rates depend entirely on matched third-party lenders. The wide interest rate ranges (particularly 1.25-28% for lines of credit and 18%+ for merchant cash advances) reflect varying lender criteria and product types. Applicants must have sufficient business history and financial records to qualify through partner lenders.
This is state-level context for Business Loans consumers in New York, NY. It does not confirm that Lendtek or this specific location is licensed.
State regulator
New York Department of Financial Services
Consumer protection
Status: Permitted
Rate context: 16% civil usury cap; licensed lenders may negotiate rates for certain loan types
Personal loans from licensed lenders are permitted. Unlicensed lenders are subject to the 16% civil usury cap unless a specific exemption applies. Rates above 16% are civil usury; rates above 25% are criminal usury.
Status: Permitted
Rate context: 16% civil usury cap for unlicensed lenders; licensed lenders may negotiate rates under Banking Law
Installment loans are legal in New York. Licensed lenders have greater flexibility in rate negotiation; unlicensed lenders are subject to the 16% civil usury cap. Consumer Protection Act (Gen. Bus. Law Article 22-A) requires clear disclosure of all terms.
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Lendtek offers 11 services including SBA loan matching and facilitation (up to $10M), Traditional term loan placement ($5K-$15M), Business line of credit matching ($1K-$3M), Merchant cash advance facilitation ($5K-$2M), Equipment financing solutions ($5K-$5M), and 6 more.
Lendtek has profile signals associated with Small business owners with 2+ years operating history seeking multiple loan options quickly, Businesses needing equipment or working capital without traditional bank relationships, Established businesses with accounts receivable or daily credit card sales seeking short-term funding.
Key strengths: Access to 100+ lenders through single application, reducing need for multiple inquiries; Fast funding with most products delivering capital within 24 hours or less; Six distinct loan product types covering diverse business financing needs. Areas to consider: Wide interest rate ranges (1.25-28% for lines of credit, 18%+ for MCAs) indicate high variability based on lender and creditworthiness; Merchant cash advances use daily sales percentage repayment model rather than fixed installments, creating variable payment burden.
In the Business Loans category, comparable providers include Guardian Litigation Group, LLP, Capdeck Business Loans, Lakehills Commercial Lending. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Lendtek is profile signals for established small business owners with documented revenue and bank statements who want to compare multiple lenders simultaneously without visiting each individually. The main caveat is that this is a marketplace platform—actual approval, terms, and rates are determined by underlying lenders, not Lendtek itself, and high-cost products like merchant cash advances should be carefully evaluated against alternatives.
National law firm specializing in debt settlement and collection defense with 25+ attorneys serving 47 states. Endorsed by The Dave Ramsey Show.
Google rating from 1,048 reviews
Profile signals: Consumers with $20,000+ in unsecured debt (credit cards, personal loans) seeking negotiated settlements, Individuals being actively sued by creditors or collection agencies who need legal defense representation
Review this provider profile and compare source-linked details before choosing what to do next.
Review this provider profile and compare source-linked details before choosing what to do next.
Answer 3 quick questions to review category, service, and profile context.
1. What's your primary financial goal?
Learn exactly how credit score tiers work, what range you fall into, and the specific steps to move up to the next tier where better rates and approvals wait.
Read guide →Learn exactly how to check your credit score for free using legitimate sources, understand the difference between soft and hard inquiries, and know your rights under federal law.
Read guide →A plain-language breakdown of every factor that goes into your credit score, with specific steps to improve each one even if you're starting from a tough spot.
Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders are required to show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the lower-cost loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
The percentage a lender charges you for borrowing their money, calculated on the amount you still owe. It's the lender's profit for taking the risk of lending to you.
Even a 1% difference in interest rate can cost you thousands over a loan's life. Lower rates mean less money out of your pocket.
Example
On a $20,000 car loan for 5 years: at 5% you pay $2,645 in interest. At 8% you pay $4,332. That 3% difference costs you $1,687 extra.
A person who agrees to repay your loan if you can't. They're equally responsible for the debt, and their credit is affected by your payment behavior.
Cosigning helps people with thin credit get approved or get better rates. But it's a huge risk for the cosigner — they're on the hook for the full amount if you default.
Example
A parent cosigns their child's $30,000 student loan. The child stops paying after 6 months. The parent is now legally required to make the payments or face collections, lawsuits, and credit damage.
How long you have to repay the loan, measured in months or years. A shorter term means higher monthly payments but less total interest paid.
Longer terms feel more affordable monthly but cost much more overall. A 30-year mortgage costs almost double in interest compared to a 15-year mortgage on the same amount.
Example
Borrowing $200,000 at 6.5%: A 15-year term costs $1,742/month ($113,561 total interest). A 30-year term costs $1,264/month ($255,088 total interest). You save $141,527 with the shorter term.
A one-time fee the lender charges to process and set up your loan. It covers their costs for underwriting, verifying your information, and preparing paperwork.
Origination fees are usually 1-8% of the loan amount and are often deducted from your loan proceeds — so you receive less than you borrowed.
Example
You're approved for a $10,000 personal loan with a 5% origination fee. The lender deducts $500 upfront, so you receive $9,500 in your bank account but owe $10,000 plus interest.
The original amount of money you borrowed, before any interest or fees are added. It's the 'real' amount of your debt.
Your interest is calculated on the principal. Paying extra toward principal (not just interest) is the one route to reduce your total cost and pay off a loan early.
Example
You borrow $25,000 for a car. That $25,000 is your principal. Your first payment of $450 might split as $150 toward interest and $300 toward principal, bringing your balance to $24,700.
The process where a lender evaluates your finances — income, debts, credit history, assets — to decide whether to approve your loan and at what rate.
Understanding what underwriters look for helps you prepare a stronger application. They check your DTI ratio, employment stability, credit score, and the asset's value.
Example
You apply for a mortgage. The underwriter reviews your pay stubs (income), bank statements (savings), credit report (history), and orders an appraisal (home value). This takes 2-4 weeks.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
Affiliate Disclosure: CreditDoc may earn a commission when you click links to Lendtek and other services. These commissions help us maintain our free research. Compensation does not determine whether a provider can be covered; visible star ratings use stored Google review ratings when available. Learn more.