Don’t misinterpret Lencred as a Lender. It is just a credit card

I was looking for a business financer. I am a veteran and have served my nation for all my life. I am an honest man and deserves at least honesty from others as well. I applied for business financing but did not know that I would be highly disappointed. I got the reference of this service by Lendio.

On the application, I clearly indicated that I was looking for an SBA Veterans Advantage Loan. On the phone, I made it clear too that I was looking for the SBA Veterans Advantage Loan. The sales rep affirmed the same and that was the first reason why I ever decided to talk to this company about the loan I needed.

They acknowledged the fact that my personal credit was stellar, and I was perfect for the loan I wanted. They later checked my business growth and all the other factors to access my eligibility. They confirmed that my business was promising, and I would have no problem while getting the loan approved from their firm.

While I was in talks with them, I never realized that these guys are not being true. All this while I thought I was applying for the government subsidized veteran loan. I was even okay with the non SBA bank loan. However, none of these were provided to me.

I had a word with Jimmy, the sales rep. He is too good at his skills. There is no doubt about it. He has good techniques. However, after getting excited about our business and all, suddenly, he said that I won’t be able to get the loan approved. But, he can help me with the 1215 CREDIT CARDS.

I am sure that Lencred is not a lender or a bank, it is just a credit card affiliate. Not only they will receive a huge credit card closing commission, but also wanted 8% loan origination fee. I do not know what is that for? This is not even a loan they are offering.

They also confirmed that they are working with a company for accessing cash from the cards. They work my charging the credit card and wire transferring the money to the vendors. It seemed shady to me. I have been in business from last 10 years and have come across with different banks and non banks. But, have never heard of anything like this.

Thee guys are nothing but credit card selling agencies. They will pretend to be the best lenders, but all they can provide is a credit card with huge yearly fee and processing fee. I did not go with this company.

They lied to me in the first instance. If you are in desperate need, you still can think of something else. This company should not even be a choice. These people are scammers and will lie to you for getting you on board. Whatever they say about their credit card, it cannot be as good as a loan account.


Is Lencred a scam?
Lencred is a scam and a bad service provider as per the report filed on dirtyscam.com. They are not aggressive towards their customer satisfaction and complaint grievance.
Is Lencred legit?
First Lencred is not a legit business owner or provider. You must take necessary precautions/measures before buying or using their services.
How many reviews are submitted by Lencred’s consumers?
There is/are 5 review(s) posted about Lencred and it indicates that the severity of the scam is High.
Where is Lencred located?
Lencred is located at 3101 SW I St, Bentonville, AR 72712, USA. You can contact Lencred by dialing +1 888-783-1503 or visit their website www.lencred.com/ before filing a lawsuit. We are no way affiliated with better business bureau or yelp reviews platform.
How much monetary loss is incurred by Lencred’s customers?
According to the report(s), US $500 was the total loss incurred by Lencred’s customers.

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5 Reviews on Lencred

  1. Please DO NOT USE this guy.

    I have worked with Dustin Weitzel and his team, during the first phase of our financing for our business Dustin secured the loans we needed. Dustin was difficult to get in touch with and at times we went weeks without receiving updates from him and this was very frustrating.

    Eventually everything was taken care of. We paid for his service and expected him to provide additional coaching towards the end of our first year in business we made contact with Dustin and he responded immediately saying he was glad to hear from us and would help us in the next step of our financing and again we didn’t hear from him I made contact with the members of his team and again no response he has left us in a position now where we are struggling to keep our business going.

    I don’t feel that we have received the support we paid for and were promised. Before you decide to work with Dustin and his team beware!

  2. DO NOT employ these folks to steal money from you.

    I worked with Austin Peppers and Jeff Gazaway, brother of the founder, to obtain a “line of credit” to open my business, a small trucking company. I was able to obtain $26,900 in credit through their process, but, it turns out they did nothing more than submit me for credit cards, which I could have done myself and saved 9% of that $26.9k.

    Additionally, both Austin and Jeff assured me the cards I obtained would be strictly ZERO PERCENT INTEREST cards, which turned out to be a lie. The largest credit limit I got was from Barclay Bank, but it has an interest rate of 20.74%, even with a credit score of 777. DO NOT employ these folks to steal money from you. Do the legwork yourself and save the 9% fee they charge.

  3. Very Bad

    Lencred only gets you a bunch of credit cards and has no bank or other money to lend.

  4. Scammer

    Worst company charging 9% of total credit which you qualify for and oh yes they do it on credit cards to fill out and get you a credit line of what some credit company’s have 0% interest for the first 12 months. If you want to draw cash from these cards using them it is a additional 2.5 to 5% depending on which way you go.

    They got me for $6000. And now stuck with a bunch of credit cards I never wanted. Just wanted a line of credit for working capital. Wish I never used these or any other company that does the same thing. Also ruined my 830 credit score it is now a whopping 630 thanks to them

  5. Still seeing if that is legal or not.

    Jeff Gazaway is horrible, nothing more than a crook. He promises but doesn’t deliver. Just FYI they do nothing more than get you credit cards with a hefty fee you owe them. They will pull over 20 inquiries on your credit report and tank that. I would stay far far away from these people.

    I have all the email correspondence and emails to prove how horrible they were from billing, to what they offer, they even remote into your own computer to fill out the credit card apps as if it were you. Still seeing if that is legal or not.

Reported Loss :500 $
Severity of Scam :High
Reported by : Anonymous
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