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.
