Applied for start up capital loan and lines of credit recently for my holdings and property management company. Got in contact with a firm called LenCred. Through SBA and Lendio. Wondering if anyone has used LenCred and can offer some insight on their services.
Hey Ben, did you end up using them? Had a consult yesterday but seem skeptical of the value and seems like it's a lot of work to take out so many credits cards & unnecessary expenses just to build up credit.
@Ben Weber would love to hear if you ended up deciding to work with Lencred and if so, how the experience has been so far?
@Adam Upchurch I didn't it seemed too good to be true haven't moved forward on it but " credit suite" has a collection of youtube videos that can help and it's free it's going to take time just like regular credit.
@Nick DeMarco i didn't in short it seemed like a "real sales pitch " the money you spend could probably be helpful else where
@Ben Weber thanks for the response. Kind of what it seemed like for us as well but wanted to try and talk with someone who went through it. Good luck building your credit!
I am interested to hear your perspective on this. For me, I was establishing a new business with mediocre personal credit and I have been super happy with LenCred. They are not doing anything magical, but they know the credit algorithms and in 12 months of doing what they told me I have a brand new mini excavator, a yacht, and a Tesla.
I am so happy with them that I bought a franchise to sell their service. In trying to find clients, I have been met with this kind of skepticism and really want to understand the perspective.
It is the same as anything else, if you go in expecting it to fail, it will. If you do the chores they give you then your personal credit will be better, your business credit will get established, and after some time you will have access to funding that you would not have otherwise had.