About Lendio

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, but most recently has been at the forefront of providing Paycheck Protection Program (PPP) financing. Lendio focuses on providing PPP loans, 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 PPP loans to over 100,000 small business owners, and maintains an “Excellent” 4.9/5-Star TrustPilot rating.

Loan Programs

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 PPP loan application and processing system. Through its proprietary technology, Lendio has streamlined the PPP loan process enabling even the smallest of businesses to apply for, and obtain a PPP 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
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PPP Loan Highlights / Guidelines

The Paycheck Protection Program (also known as the PPP) is a program that was released by the Small Business Administration on April 3, 2020 to help supply funding to small businesses, nonprofits, sole proprietors, and business entities affected by COVID-19. $660 billion of total PPP financing was approved under The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act. This program ends on August 8, 2020.

Loan sizes up to $10 million

  • Interest rate of 1%
  • Maturity of 2 years
  • First payment deferred for six months
  • No collateral
  • No personal guarantees
  • No borrower or lender fees paid
  • Loan forgiveness available

Business Loan Highlights / Guidelines

Lendio is one of the few business loan platforms still offering financing options other than the Paycheck Protection Program. 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.

Most business owners will need to show their business was in operation on February 15, 2020, and provide monthly payroll verification for all of 2019, or their last 12 months of business. Seasonal business owners can qualify if they prove they were operational for an eight-week period between February 15, 2019 and June 30, 2019. Those applicants applying for business financing other than the PPP, may have to document and verify that their business has not been adversely affected by COVID-19.

When applying, business owners should prepare to upload or otherwise share the following documents (other documents may be required):

  • Business bank statement
  • Copy of drivers license
  • Proof of payroll (IRS Form 941, etc.)
  • 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 begin originating and processing PPP loans, and has been very successful delivering funding to small business owners through its vast network of approved lenders.

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