Overview

Founded in 2011, Lendio has become the leading small business lending marketplace in the US. They offer a number of loan products including a business line of credit, ACH loans, SBA loans, equipment financing, and more. Small business loans range from as little as $5,000 all the way up to $25 million. Repayment terms vary between three months to twenty-five years and rates vary according to lender, but typically range between 3% to 30%. Upon qualifying, Lendio matches prospective businesses with one or more of their 75+ financial institutions, meaning businesses with a range of financial needs and credit scores can qualify.

Features

Since Lendio works with a large group of financial institutions, rates and terms are flexible and can range from lender to lender. After submitting the online application form, Lendio will have a dedicated lending specialist contact you with a number of offers and it is then up to you to choose which loan best suits your business.

When it comes to loan products, Lendio features a number of different financing solutions including a business line of credit, SBA loans, short-term loans, merchant cash advance, business credit card, equipment financing, commercial mortgage, American Express merchant financing, and acquisition loans.

Application Process

Lendio's application process is free and easy to use. It allows businesses to view their potential lending options without affecting their credit score. In order to apply, small businesses must generate monthly revenues of at least $10,000, be in business for at least 6 months, have a credit score of 560 or better, and no history of bankruptcy.

Repayment Terms

Repayment terms vary depending on the lender, loan amount, term length, and other factors. With Lendio's network of 75+ financial institutions, you can be sure to see a variety of lending options and choose the repayment terms you find most comfortable.

Customer Support

Lendio offers numerous forms of customer support, offering service by online contact form, phone, or post.

In addition to their customer support, they have a dedicated small business blog providing helpful financial tips and guides. You can also find helpful information on one of Lendio's social media channels, whether on Facebook, Twitter, or LinkedIn.