Overview of Lendio
Lendio is a legitimate website serving small businesses’ financing needs by connecting them with trustworthy lenders. As an intermediary platform, Lendio does not lend money itself but partners with over 300 lenders to offer loans up to $5 million. Entrepreneurs can conveniently apply for different loan types – including term loans, lines of credit, and merchant cash advances – using Lendio’s online application. The application process is easy and takes around 15 minutes to complete.
With a strong track record of funding over 300,000 small business loans, Lendio has maintained an excellent reputation. It is a financially stable company earning high ratings from the Better Business Bureau. Customers report quick loan processing and funding within 24-72 hours of approval. Lendio also assigns a dedicated funding manager to each applicant to provide guidance during the entire loan process.
Lendio’s Services
Loan Marketplace:
- Lendio offers a loan marketplace, single quick free loan application, and funding in 24 hours.
- It identifies financing options through the right lender for each business.
- Broad range of lending partners serves businesses of all sizes and industries.
SBA Lending Options:
- Lendio partners with over 75 lenders to bring an array of SBA lending options, including SBA 7(a), SBA 504, and SBA microloans.
- Personal credit score of at least 600 and $8,000 in monthly revenue are required.
Safety and Legitimacy:
- Lendio is a legitimate platform, supported by public data analysis and Scamadviser checks.
- Reliable and secure loan marketplace for startups and small businesses.
Customer Experiences
Lendio is a real and trustworthy loan marketplace for startups and small businesses. Over 300,000 loans funded through the platform. As a marketplace, Lendio connects borrowers and lenders but doesn’t lend itself. Approval can be quick and easy depending on loan type. Discounts may be offered for excellent credit/financials.