{"id":772,"date":"2017-06-17T13:17:27","date_gmt":"2017-06-17T20:17:27","guid":{"rendered":""},"modified":"2024-07-06T12:42:30","modified_gmt":"2024-07-06T19:42:30","slug":"lendio","status":"publish","type":"company_single","link":"https:\/\/financer.com\/company\/lendio\/","title":{"rendered":"Lendio"},"content":{"rendered":"\n

Lendio is an online broker that partners with more than 75 lenders to provide business loans for businesses<\/a> in the U.S.<\/p>\n\n\n\n

Startups and small businesses often have limited access to capital funding<\/strong>. With its network of lenders, Lendio helps businesses get the funding they need. <\/p>\n\n\n\n

They have a quick and free online application process that only takes minutes. With Lendio you can get the capital you need within 24 hours<\/strong>.<\/p>\n\n\n

Apply for a Lendio Loan Now<\/a><\/div>\n\n\n

How We Rate Lendio<\/h2>\n\n\n\n

At Financer.com, all lenders go through a thorough research and review process. Here’s how we rate Lendio:<\/p>\n\n\n\n

Category<\/th>Rating<\/th><\/tr><\/thead>
Affordability<\/td>\u2b50\u2b50\u2b50<\/td><\/tr>
Application process<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Loan terms<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Transparency<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr>
Customer support<\/td>\u2b50\u2b50\u2b50<\/td><\/tr>
Overall<\/td>\u2b50\u2b50\u2b50\u2b50<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n
<\/div>

Do We Recommend Lendio?<\/h3>Yes, we recommend Lendio as a reliable lender marketplace. Skip to our full review below and see how we rate Lendio<\/a>.<\/div>\n\n\n

Here’s what we’ll cover in this Lendio review:<\/h3>\n\n\n\n\n\n

Want to skip the details? Jump to our final verdict here<\/a>.<\/p>\n\n\n\n

Lendio Overview<\/h2>\n\n\n\n

Lendio is a platform that offers business loans by connecting business owners with a network of lenders. <\/p>\n\n\n\n

Despite not actually offering loans itself, Lendio’s network of over 75 business lenders \u2014 which includes well-known companies like Kabbage, OnDeck<\/a>, Amex, Fundbox<\/a>, and many others \u2014 is meant to serve as a one-stop shop for funding.<\/p>\n\n\n\n

Here’s a quick summary of Lendio:<\/strong><\/p>\n\n\n\n

Overview<\/th>Features<\/th><\/tr><\/thead>
Loan type:<\/strong><\/td>Business loans<\/td><\/tr>
Loan amount:<\/strong><\/td>Up to $5 million<\/td><\/tr>
Loan term:<\/strong><\/td>Up to 30 years<\/td><\/tr>
APR<\/strong>:<\/td>From 6.00%<\/td><\/tr>
Min. credit score:<\/strong><\/td>Varies by lender<\/td><\/tr>
Monthly fees:<\/strong><\/td>None<\/td><\/tr>
Payout time:<\/strong><\/td>One business day<\/td><\/tr>
Weekend payout:<\/strong><\/td>No<\/td><\/tr>
Requirements:<\/strong><\/td>Varies by lender<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Lendio has funded more than $12 billion in loans<\/strong> so far and facilitated more than 300,000 loans to date. With banks typically rejecting up to 80% of business loan applications<\/em>, Lendio makes it possible for business owners to get the funding they need by comparing a variety of lenders<\/a>. <\/p>\n\n\n

Apply for a business loan now<\/a><\/div>\n\n\n\t\t

Compare loans from 79 lenders<\/h3>

Find the cheapest rate with one click<\/p>

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Compare Offers<\/a><\/div>\t\t<\/div>

Types of Business Loans<\/h2>\n\n\n\n

Lendio offers a variety of business loans<\/strong> and the platform is easy to use. <\/p>\n\n\n\n

Business owners can apply for more than one type of loan and they’ll be connected with over 75 lenders<\/strong> to find the type of business funding they need. <\/p>\n\n\n\n

Here’s a quick summary of the types of business loans<\/a> Lendio offers:<\/p>\n\n\n\n

Loan Type<\/th>Terms<\/th><\/tr><\/thead>
Business Term Loan<\/strong><\/td>$5,000 to $2 million<\/strong>
Starting from 6% APR
Available in all states
Repayments from 1 – 5 years<\/td><\/tr>
Startup Loan<\/strong><\/td>$500 to $750,000<\/strong>
Starting from 0% to 17% APR
Available in all states
Repayments depend on the lender<\/td><\/tr>
SBA Loans<\/strong><\/td>Up to $5 million<\/strong>
APRs not disclosed
Available in all states
Repayments from 10 – 30 years<\/td><\/tr>
Business Line of Credit<\/strong><\/td>$1,000 to $500,000<\/strong>
Starting from 8% to 24%
Available in all states
Repayments from 1 – 2 years<\/td><\/tr>
Equipment Financing<\/strong><\/td>$5,000 to $5 million<\/strong>
Starting from 7.5% APR
Available in all states
Repayments from 1 – 5 years<\/td><\/tr>
Merchant Cash Advance<\/strong><\/td>$5,000 to $200,000<\/strong>
Starting from 18% APR
Available in all states
Repayments depend on the lender<\/td><\/tr>
AR Financing<\/strong><\/td>Up to 90% of receivables<\/strong>
Starting from 2% APR
Available in all states
Repayments depend on the lender<\/td><\/tr>
Business Acquisition Loan<\/strong><\/td>$5,000 to $5 million<\/strong>
Starting from 5.5% APR
Available in all states
Repayments depend on the lender<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Business Term Loans<\/h3>\n\n\n\n

With a business term loan from Lendio, you can borrow from $5,000 up to $2 million<\/strong> and get funding as soon as 24 hours. <\/p>\n\n\n\n

Loan terms are from one year to 10 years<\/strong> with interest rates as low as 6%<\/strong>.<\/p>\n\n\n\n

Short-term loans are typically less than 18 months<\/strong> and normal-term loans can be from two years up to 10 years or more<\/strong>. <\/p>\n\n\n\n

Lendio’s business term loans are available in all states.<\/p>\n\n\n

Apply for a business term loan now<\/a><\/div>\n\n\n

Business Line of Credit<\/h3>\n\n\n\n

A business line of credit can give you business funding from $1,000 up to $500,000 <\/strong>with interest rates<\/a> starting at 8% APR<\/strong>.<\/p>\n\n\n\n

A business line of credit is available from Lendio in all states and funding can be within two weeks. Repayment terms are from one to two years<\/strong>. <\/p>\n\n\n

Apply for a business line of credit now<\/a><\/div>\n\n\n

Merchant Cash Advance<\/h3>\n\n\n\n

Business owners can get a merchant cash advance from Lendio of between $5,000 and $200,000<\/strong>. Repayment terms for merchant cash advances are up to two years and interest rates start at 18% APR<\/strong>. <\/p>\n\n\n\n

You can get funding within 24 hours <\/strong>and this is available in all states. <\/p>\n\n\n

Apply for a merchant cash advance now<\/a><\/div>\n\n\n

Equipment Financing<\/h3>\n\n\n\n

With equipment financing, you can borrow from $5,000 up to $5 million<\/strong> and get funding within 24 hours. <\/p>\n\n\n\n

Loan terms are typically between one and five years<\/strong>, and interest rates can be as low as 7.5%<\/strong>. Equipment financing is a type of asset-based lending that helps business owners get funding to buy or lease the equipment they need.<\/p>\n\n\n\n

Credit approval is a bit more flexible for these loans and the equipment is typically used as collateral for the loan<\/strong>.<\/p>\n\n\n

Apply for equipment financing now<\/a><\/div>\n\n\n

SBA Loans<\/h3>\n\n\n\n

With Lendio you can apply for SBA loans of up to $5 million<\/strong> and terms between 10 years and 30 years<\/strong>. SBA loans<\/a> are available in all U.S. states.<\/p>\n\n\n

Apply for an SBA loan now<\/a><\/div>\n\n\n

Startup Business Loans<\/h3>\n\n\n\n

For business owners who need a startup loan, Lendio can connect you with lenders that offer startup loans between $500 and $750,000<\/strong>.<\/p>\n\n\n\n

Interest rates start at 0% or 17%<\/strong> with repayments up to 25 years<\/strong>. <\/p>\n\n\n\n

Funding is typically between two weeks and four weeks<\/strong>.<\/p>\n\n\n

Apply for a startup business loan now<\/a><\/div>\n\n\n

Accounts Receivable Financing<\/h3>\n\n\n\n

With accounts receivable financing, businesses can get fast cash of up to 90% of their receivables<\/strong>. Funding happens within 24 hours and APRs start at only 3%<\/strong>. Repayment terms are up to a year<\/strong>.<\/p>\n\n\n\n

Applying for financing online takes only 15 minutes.<\/p>\n\n\n

Apply for AR financing now<\/a><\/div>\n\n\n

Business Acquisition Loans<\/h3>\n\n\n\n

With a business acquisition loan from Lendio, you can borrow from $5,000 to $5 million<\/strong> and get funding within 30 days. <\/p>\n\n\n\n

Loan terms are revolving, or up to 25 years<\/strong> and interest rates start as low as 5.5%<\/strong>.<\/p>\n\n\n\n

You can use a business acquisition loan<\/a> to buy a business, including an existing business or a franchise, even if you don’t have the capital ready.<\/p>\n\n\n

Apply for a business acquisition loan now<\/a><\/div>\n\n\n

Fees<\/h2>\n\n\n\n

Lendio doesn’t charge any fees<\/strong> as its revenue comes from its partners. <\/p>\n\n\n\n

Depending on the loan offer you choose, the fees that the lender charge may include the following:<\/p>\n\n\n\n