<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D/A</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001701241</cik>
        <entityName>Equity Lending Fund I, LLC</entityName>
        <issuerAddress>
            <street1>1223 S CLEARVIEW AVE</street1>
            <street2>SUITE 103</street2>
            <city>MESA</city>
            <stateOrCountry>AZ</stateOrCountry>
            <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
            <zipCode>85209</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>4802225852</issuerPhoneNumber>
        <jurisdictionOfInc>ARIZONA</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <overFiveYears>true</overFiveYears>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Grif</firstName>
                <middleName>Cardon</middleName>
                <lastName>Hiatt</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1223 S Clearview Ave, Ste 103</street1>
                <city>Mesa</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of ELM2, LLC</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Paul</firstName>
                <middleName>Dana</middleName>
                <lastName>Cardon</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1223 S Clearview Ave, Ste 103</street1>
                <city>Mesa</city>
                <stateOrCountry>AZ</stateOrCountry>
                <stateOrCountryDescription>ARIZONA</stateOrCountryDescription>
                <zipCode>85209</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Director</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of ELM2, LLC</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>REITS and Finance</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06c</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>true</isAmendment>
                <previousAccessionNumber>0001701241-21-000001</previousAccessionNumber>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2017-04-07</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>200000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>250000000</totalOfferingAmount>
            <totalAmountSold>128858297</totalAmountSold>
            <totalRemaining>121141703</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>198</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>None</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse>No pymt will be made to officers, directors, managers or promoters from offering proceeds as sales compensation.  Affiliates and the managers will receive compensation in connection with lending activities and some fees will be by the Company.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>Equity Lending Fund I, LLC</issuerName>
                <signatureName>Paul Cardon</signatureName>
                <nameOfSigner>Paul Cardon</nameOfSigner>
                <signatureTitle>Manager of Equity Lending Management, LLC, Manager</signatureTitle>
                <signatureDate>2026-02-13</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
