Lendio is a technology driven, small business financing marketplace that utilizes a streamlined application process and proprietary algorithm to match borrowers with loan options from a nationwide network of esteemed lenders. Lendio offers a full suite of business loan products, and focuses on providing SBA loans, commercial real estate loans, and alternative business financing to small businesses unable to access capital through a bank or other traditional avenues.
Lendio is located in Lehi, UT and most recently has provided in excess of $8 billion of loans to over 100,000 small business owners, and maintains an “Excellent” 4.9/5-Star TrustPilot rating.
- Visit Lendio’s Website
- 4100 Chapel Ridge Road, Suite 500, Lehi, UT 84043
Lendio is one of the largest online business loan marketplaces in America, and was one of the first technology-based loan providers to implement an effective small business loan application and processing system. Through its proprietary technology, Lendio has streamlined the loan process enabling even the smallest of businesses to apply for, and obtain a business loan through its extensive network of approved lenders. Additionally, Lendio offers a variety of financing options to help small businesses meet their capital needs.
Below is a sampling of reasons why a borrower would seek financing from Lendio:
- The borrower does not have an existing banking relationship, or does not qualify for traditional financing
- A streamlined, fast, paperless, and simple online loan application is desired by the applicant
- The borrower wishes to be reviewed and presented multiple business financing options, and desires a dedicated representative to assist him or her in making an informed decision
Business Loan Highlights / Guidelines
Lendio is one of the few business loan platforms still offering financing options during the COVID-19 pandemic. Lendio is a market leading provider of SBA loans, equipment financing, bank term loans, business credit lines, merchant cash advances, accounts receivable financing, startup financing, business acquisition financing, and other types of business financing. Lendio’s business loan application is simple and fast, applying does not affect your credit, and you’ll be matched with loan options from Lendio’s network of over 75 lenders.
Loan sizes from $1,000 $5 million
- Interest rates starting at 5%
- Short and long-term loans
- No collateral required for most loans
- Loans fund in as little as 1 day
- Minimum annual revenue of $180,000
- Minimum time in business of 12 months
- 550 minimum credit score requirement
- Qualify with as little as 6 months of business bank statements
The Loan Process
LendVer did not shadow the application or loan process for Lendio but its website offers information about how to get started. Applicants are encouraged to fill out a short online loan application to get started.
When applying, business owners should prepare to upload or otherwise share the following documents (other documents may be required):
- Business financials / bank statements
- Copy of drivers license
- Voided business check
Assuming the application information and documentation provided to Lendio is amenable, your loan application will be submitted to an approved lender for processing and funding (as long as funds remain and you are deemed eligible for a loan by that lender). The entire loan process can be conducted and monitored online through your account with Lendio.
- Lendio is one of the largest technology-based, online business loan platforms in the country, and is experienced in quickly processing and delivering business financing.
- Lendio has provided in excess of $8 billion to over 100,000 businesses of all sizes and types.
- Lendio has a vast network of lenders enabling it to quickly and effectively match your loan application with the best option.
- You are able to monitor the status of your loan application through your online Lendio account, and rely on the advice and support of a relationship manager to help you throughout the process.
- Lendio is not the final decision maker as to whether or not your loan will be approved, but it exercises best practices to only assign loans to lenders that have a high probability of being funded.
- Since Lendio is not a direct lender, a different company will fund and service your loan.
Why Lendio is the Best
Lendio is one of the largest online, small business loan platforms in the country. Lendio has used advanced technology, and dedicated customer support to provide in excess of $8 billion to over 100,000 small businesses across the country. Lendio was one the earliest firms to incorporate technology into originating and processing small business loans, and has been very successful delivering funding to small business owners through its vast network of approved lenders.Visit Lendio