Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply For Lendio

Advertiser Disclosure

How to apply

On Lendio's website, you can submit an application to be matched with a lender in a matter of minutes. Typically, Lendio will contact you within two days to explore alternatives and facilitate your application with a particular lender. The application requirements will vary depending on the lender to which you are matched.

Prospective borrowers can apply for a range of loans, including but not limited to loans for new businesses, short-term loans, and equipment finance.

Requirements

Any company can use Lendio's services. Unfortunately, there is no funding guarantee. Lendio reports that only six out of ten enterprises are authorized for a business loan through their service.

Because Lendio works with more than 300 companies, your business doesn't have to meet specific requirements to use this service. Lendio doesn't even recommend qualifications for trades anymore.

But you should probably expect it to be easier to get a loan through Lendio. The longer you've been in business, the better your credit score and the more money you make each month.

FAQ

Is Lendio the same as SBA?

For clarity's sake, Lendio does not originate business loans. The service instead works as a matchmaker between multiple lenders and business owners. But Lendio makes SBA loan applications easy.

Who is not eligible for a PPP loan?

You can no longer get PPP loan approvals (Paycheck Protection Program loan). The Paycheck Protection program ended on May 31, 2021.

Does Lendio check credit?

Lendio itself does not check your credit score. But lenders will review your credit score when determining whether you qualify for a business loan.

Is Lendio easy to get approved?

The application process is brief and straightforward.  Lendio's application requires only 15 minutes to complete. You can be authorized and have the funds deposited into your account within 24 hours.

Financial products
Lendio
Business loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$1,000-$2,000,000
Rate
i

Effective interest rate on the product

up to 17%
Term
i

Loan term for the financial product

up to 25 years
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Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
100.00 – 20000.00 $
Rate
i

Effective interest rate on the product

from 0.05 %
Term
i

Loan term for the financial product

5 days – 3 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
100.00 – 4000.00 $
Finanso
Personal Loans
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
2000.00 – 100000.00 $
Rate
i

Effective interest rate on the product

6.34 – 35.89 %
Term
i

Loan term for the financial product

2 months – 72 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

4.25
(20 Ratings)
Recommended FinScore™
0
300
650
1000
to 1500.00 $
Rate
i

Effective interest rate on the product

to 160.00 %
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