Lendio
check_circleverifiedHeadquartered in South Jordan, Utah, Lendio has been providing business loans primarily to small businesses since 2006. The award-winning company has focused its efforts on changing industry norms for providing small business loans and has been successful in creating a name for itself within the small business lending industry.
Lendio has simplified the application process for small business owners and increased the number of loan options, removing the hassle of going from bank to bank researching the different lenders. To date, the company has facilitated more than 40,000 small business loans and helped to fund more than $1 billion. However, Lendio does not fund startups and business owners hoping to work with the company must have a credit score of 550 or higher.
Read on to discover The Good, The Bad, and The Bottom Line about Lendio, as well as view verified Lendio reviews from past borrowers.
The Good
- Easy 15-Minute Application
- Loan Options From 75+ Lenders
- Variety of Loan Types
- Helpful Loan Calculator
- No Origination Fee
- Social Media Activity
- Live Chat
- Lendio Reviews
Easy 15-Minute Application
Many business loan providers require an overly complicated and lengthy application process for customers. Lendio only has one application and it is quick, free, and easy to fill out. Additionally, borrowers can be receive funding in as little as 24 hours.
Loan Options From 75+ Lenders
Lendio is committed to helping each business owner find the lender that is right for them. As a result, the company offers loan options from over 75 alternative lenders, including PayPal, Bank of America, American Express, Chase, Kabbage, Fundation, OnDeck, Authorize.Net, Headway Capital, Funding Circle, Lending Club, and QuarterSpot. By having a multiplicity of options to choose from, customers can be confident that they will get a good rate for their business.
Variety of Loan Types
Lendio strives to help company owners find loans that fit both their business and their wallet. Because of this, a variety of financing solutions are available, including business lines of credit, SBA loans, short-term loans, merchant cash advances, business term loans, business credit cards, equipment financing, commercial mortgages, accounts receivable financing, startup loans, and business acquisition loans.
Helpful Loan Calculator
Because the company works with so many lenders, its loan calculator is both accurate and helpful for company owners. The Lendio website offers different calculators for each different type of business loan borrowers might be interested in:
- Equipment Loan Calculator
- SBA Loan Calculator
- Short-Term Loan Calculator
- Startup Business Loan Calculator
- Commercial Mortgage Payment Calculator
No Origination Fee
An origination fee is a fee that is required by some lenders for processing a loan application. The fact that Lendio is more of a marketplace — where potential applicants can find lenders — means that they don't charge any origination fees. Technically, the choice of having an origination fee is somewhat up to the customer who chooses which lender to go with, as Lendio simply lays out lending options.
Social Media Activity
Lendio has large followings on both Facebook and Twitter. Many of its users leave reviews that potential customers can browse. Even though it doesn’t necessarily mean the company offers good financing options, good rates, or low fees, Lendio’s large social media following gives potential customers a useful resource for seeking out consumer opinions. The company is also very active on its pages, posting relevant and valuable content for its followers.
Live Chat
Lendio provides live chat software on its website so that its customers can enjoy a convenient, simple customer service experience. Through this software, Lendio employees are available to assist borrowers and answer questions about business loans within minutes.
Lendio Reviews
With hundreds of positive reviews, Lendio clearly provides a satisfactory customer experience. Its ratings and reviews are high, highlighting quick funding time, quality customer service, low rates, and high loan amounts. Borrowers can have peace of mind knowing Lendio is a trusted company that outshines many alternative lenders.
The Bad
- Variability of Options
Variability of Options
Though having many small business lending options is by no means the worst problem to have for a lending company, it does present one complication in that it makes rate guarantees difficult to make. Because there are so many alternative lenders, the company can’t make promises about rates or fees.
The Bottom Line
Lendio has worked hard to earn the respect of its borrowers and has crafted a work environment that creates happy employees. Small business owners will find Lendio’s loan calculators highly useful and will appreciate the large number of business lending options offered by Lendio. We recommend that small businesses use Lendio’s incredibly helpful services to find some of the best lending options out there.
Disclaimer
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All user reviews posted on Best Company are subject to screening and approval. We reserve the right to approve or deny any review posted to this site in accordance with our Review Guidelines. Best Company never suppresses user reviews—unless they are being investigated for authenticity, or if they violate our review guidelines. We encourage anyone who suspects a user review to be fraudulent or intentionally inaccurate to please notify our review moderation team.
User Reviews
Star Rating
237 Reviews
Review Breakdown
Sentiment Criteria
My credit is good but I was turned down for a cash loan but approved for a credit card, and then immediately after I applied and was denied I started receiving multiple phone calls from different companies trying to sell me a loan. I feel like this is a scam. I’ve never had an issue getting a loan before.
Reply from Lendio
Jul 25, 2019
Hi Teresa, I apologize for your most recent experience you had with Lendio. We do our best to match you up with lenders that you qualify for. We never sell your information and we never do a hard credit pull. We would be interested to review your account with you and determine how we can improve your experience with Lendio. Please contact us at 855-853-6346. Thanks
 Verified Customer
Customer service was excellent it was fast and there was always someone there to help.
Reply from Lendio
Jun 24, 2019
Thank you! We appreciate your 5 star review and for sharing this with us. Your feedback couldn't make us happier! Lendio is here to help business owners from the beginning of the lending process to the end, as quickly as possible! Thanks for letting us be a part of the growth of your business!
 Verified Customer
good service Exceptionally good staff very swift to authorize a loan for me.
Reply from Lendio
Jun 18, 2019
Hi Elizabeth! Hearing that you had an exceptional experience is the best thing we could hope for! All of us at Lendio make it a point to move as quickly as we can to help you find the best lending options for your business. We wish you much success in your business, and we thank you for your fantastic 5 star review!
 Verified Customer
I would give more than 5 star for Wendy E service. She was amazing to work with and very personable, patient, and took the time to explain everything to me. Only reason I'm giving 4 star is because I got a spam through lendio. That didn't make me feel secure.
Reply from Lendio
Jun 10, 2019
Hi Issa! Thank you for letting us know! We appreciate you taking the time to share this with us. We strive to provide all business owners the best experience and most helpful information in all of our communication, so please let us know how we can make this a 5 star experience for you!
 Verified Customer
They were very helpful with matching me up with the right company.
Reply from Lendio
Jun 10, 2019
Thank you Helen for your 5 star review and for sharing this with us! That is how we do it at Lendio! With your 1 application we open the door to over 75 different lenders and match you with the one that best meets your needs! We wish you the best!
 Verified Customer
They are helpful and keep up with my accounts. Jason is wonderful.
Reply from Lendio
Jun 10, 2019
Hello Robin! It's great to hear that Jason was able to exceed your expectations! We are excited to hear about the continued success of your business, so please keep us in the loop. Thank you kindly for your 5 star review!
 Verified Customer
The rates are very high. They will negotiate to some extent.
Reply from Lendio
Jun 10, 2019
Hi Scott! We appreciate you taking the time to share this with us! We work with 75 + different curated lenders. Based on the lender, product, and business owner's credit, time in business, monthly revenue, and a few other variables, that is what determines rates and terms. It is a matter of what each business owner qualifies for. We strive to make each experience the best it can be, so please let us know how we can make this a 5 star experience for you! Best of luck to you!
 Verified Customer
Very Easy, quicker than others, and responsive
Reply from Lendio
Jun 10, 2019
We are so glad you are happy with your experience at Lendio, Godavari! One of our top goals is to move as quickly or as slowly as you need to benefit your business, all with the easiest application process possible. We're so happy to be a part of the growth of your business, and we thank you for your fantastic review!
 Verified Customer
Their application process and response time was very good. I'm happy with them. It's very straight forward. The customer service was understanding to any questions that I might about. There weren't any surprises. Lendio was very transparent to what the structure of the cost would be and the timing and then kept those commitments.
 Verified Customer
I will say the ease and quickness of the whole process was high quality.
 Verified Customer
The guy that I worked with was super nice and he covered it all. They are really helpful and just went all the way. It was quick and fast. They've done everything they said they would do.
 Verified Customer
They're easy to work with and get the job done. When you call, the customer service pick up. I worked with real professional people and they stayed in contact with me. It was a good experience.
Thanks! Lendio for being a partner in the time of need. I want a loan for my business in a short time. I was too much worried about it. My business was at risk. Lendio finished my worried by providing a loan with easy payback installments. Thanks!
Reply from Lendio
May 29, 2019
Hello Coleman! You are so very welcome! We are honored to be your small business lending partner in your time of need. Thank YOU for your fabulous review and for sharing your experience with us. We wish you continued success for your business!
I secured a business loan through Lendio for taking on a new client with my business. I was able to get the money fast and use it for the exact things we needed. If it wasn't for Lendio I wouldn't have been able to grow my business like I did.
Reply from Lendio
May 15, 2019
Thanks for the 5 stars Craig! That's the magic about Lendio, with your 1 application we can open a door with over 75 different lenders and match with the ones matching your needs!
When me and my husband were starting a small business we found ourselves being turned away from conventional bank loans. We were lucky to find Lendio as they were able to get us exactly the amount of money we needed and we were able to pay it back quickly due to their low rates. The process was easy and they were great to work with.
Reply from Lendio
May 15, 2019
Thank you for sharing this experience with us! We know the business world isn't always easy and we are here to help you create that bridge to get you through the hard times! We look forward to seeing your business blossom! Thanks again for the great review, Jennifer!
Great staff so easy to work with. Tanner was friendly knowledgeable and funnny
Reply from Lendio
May 03, 2019
Hi Debbie, so great to hear that Tanner was able to exceed your expectations he sure is awesome at what he does! We are excited to see what’s up next for you and the growth of your business, thank you for the 5 Star Review!
 Verified Customer
They asked for countless documents, which I provided in a timely manner. Then they stopped responded. I reached out twice with questions, and never heard back.
Reply from Lendio
Feb 12, 2019
Hello Ryan, I am sorry to hear about your experience with Lendio. We would really like to get this resolved for you. Please give us a call at 801-858-3600 and speak with our Customer Experience Director Jay F. We look forward to speaking with you.
 Verified Customer
Helpful, kind and knowledgeable we love the staff. The loan company was not excellent.
Reply from Lendio
Feb 12, 2019
KI, Thank you for sharing this experience with us! We are always glad to help, Thank you for the 5 Star Review.
 Verified Customer
Service was great but the fees were a bit high
Reply from Lendio
Feb 12, 2019
We are happy that your experience with Lendio's service was good. We apologize that we were unable to find you a product that provides better rates. We will continue to work with you to get you the best products available based on what you qualify for and will assist you in the future by helping you with those areas that will get you those better rates.
 Verified Customer
Easy to work with, and diligent in their desire to help.
Reply from Lendio
Feb 12, 2019
WFB, We really appreciate you taking the time to share your experience with us! We Count ourselves lucky for Merchants like you! Thank you for the review
 Verified Customer
Very informative and not pushy. Prompt with all answers and they've always worked hard to give me the best deal
Reply from Lendio
Feb 12, 2019
Lendio offers every merchant a life long relationship which means security for you and the health of your business! We are so happy to be a part of the growth of your business! Thank you for the 5 Star Review
 Verified Customer
They are very quick to just put you in the easiest loan they can come up with as fast as they can whether it is really the best for you.
Reply from Lendio
Feb 12, 2019
That's the magic about Lendio, with your 1 application we can open a door with over 75 different lenders and match with the ones matching your needs! Thank you for the review.
 Verified Customer
Great and easy experience. Good customer service and i would recommend your services again.
Reply from Lendio
Feb 12, 2019
Abdul, thank you for the great review, we are glad that everything was an easy experience for you! We can't wait to hear back from you!
 Verified Customer
Peggy M was immensely helpful, dedicated, and worked for my best interest.
Reply from Lendio
Feb 12, 2019
Our funding managers like Peggy know how to do it! Thank you for the 5 Star Review!
 Verified Customer
It was wonderful working with them and they got us the needed funds in the fastest way possible.
Reply from Lendio
Feb 12, 2019
We do our best to go as quickly or as slow as you need us to always keeping in mind what is most important to you and the growth of your business! Thank you for the great 5 star review!
 Verified Customer
Great customer service and fast response
Reply from Lendio
Feb 07, 2019
We do our best to go as quickly or as slow as you need us to always keeping in mind what is most important to you and the growth of your business! Thank you for the great 5 star review!
 Verified Customer
The loan agreed upon, is not the terms being carried out
Reply from Lendio
Mar 15, 2019
Thank you for your feedback. We take seriously any customer experience that is less than exceptional. While we want to help you, we are unable to identify who you are. If you could please provide us your email, phone number or name or contact us at 855-853-6548 and ask for the Customer Experience Director Jay Fraga.
 Verified Customer
very helpful process, instructional and found what I needed
Reply from Lendio
Feb 07, 2019
Lendio has a platform of over 75 different lenders that creates so many options for our business owners! So good to hear Jason was able to get you a great product that worked for you! Thank you for the recommendation and the 5 star review!
 Verified Customer
They were very helpful and met my needs quickly.
Reply from Lendio
Feb 07, 2019
Lendio offers every merchant a life long relationship which means security for you and the health of your business! We are so happy to be a part of the growth of your business!
 Verified Customer
They made everything very easy to process and worked really well with me. They were very helpful every step of the way. They are very good people to work with and they do everything they can to help you.
Reply from Lendio
Jan 23, 2019
We are your business loan advocate it's our duty to find you the best loan options available for you with our platform of lenders. Thank you for the review!
 Verified Customer
It was very difficult to get through to the customer service. The re-enrollment process for the loan could be done better in the future and the rates could be a little bit better for repeat customers instead of arm wrestling the person into a deal.
 Verified Customer
The customer service representative was fantastic. He was very professional.
Reply from Lendio
Jan 23, 2019
Our Lendio representatives know how to do it! We appreciate your review, we strive to make every experience a 5 star one! Please let us know if there is anything we can do to provide you a 5 star experience.
 Verified Customer
The gentleman we worked with was very professional and very thorough. He did the job that we needed. He exceeded what we were asking. We dealt with one guy and he was very honest with everything he was doing. They were still able to work with us after we gave them the supporting documentation they needed.
Reply from Lendio
Jan 23, 2019
Hi Sandra, so great to hear your Lendio funding manager was able to exceed your expectations he sure is awesome at what he does! We are excited to see whats up next for you and the growth of your business.
 Verified Customer
My representative actually worked pretty straight forward on how the process worked and made it less of a headache. They were pretty efficient. They give you the best options to take when it comes to getting funding for your business and if there is any retrospective and reflection on your personal credit and your business credit. So they utilize the best alternatives based on the background of your company and also your personal background as well.
Reply from Lendio
Jan 23, 2019
Lendio offers every merchant a life long relationship which means security for you and the health of your business! We are so happy to be a part of the growth of your business, please let us know if there is anything we can do to propel your experience.
 Verified Customer
It was a very simple process and very fast. The customer service is very helpful, knowledgeable, and friendly. They followed up to make sure everything was okay. I appreciate all their help.
Reply from Lendio
Jan 23, 2019
That's the magic about Lendio, with your 1 application we can open a door with over 75 different lenders and match with the ones matching your needs! Thanks for the great review, Robert!
 Verified Customer
It wasn't a complicated process. It was easy. They're just good people to work with.
Reply from Lendio
Jan 23, 2019
That's the magic about Lendio, with your 1 application we can open a door with over 75 different lenders and match with the ones matching your needs! We are really happy to hear you had a great experience!
 Verified Customer
It's a little slow going but it's going. When I call, I usually don't get an answer back for a couple of days.
Reply from Lendio
Jan 23, 2019
Hi Jeremy, thank you for bringing this to our attention. We are sorry that we have not kept you in the loop, we strive to make the process as easy as possible for you. Would you mind giving us a call at 801-858-3600 so we can find your file and make sure you are getting the attention and service you deserve.
 Verified Customer
We got a little problem at the transaction at the beginning but we got it fixed.
Reply from Lendio
Jan 23, 2019
Hi Gwan! Sorry to hear there was an initial issue, but we are glad it was resolved and we were able to help you find the financing you needed.
 Verified Customer
They made everything pretty easy. My contact there did everything and kept me informed.
Reply from Lendio
Jan 23, 2019
Thank you for sharing this experience with us! We know the business world isn't always easy and we are here to help you create that bridge to get you through the hard times! We look forward to seeing your business blossom! Thanks again for the great review!
 Verified Customer
They are very efficient in their processes. They've been responsive to my needs.
Reply from Lendio
Jan 23, 2019
Lendio offers every merchant a life long relationship which means security for you and the health of your business! We are so happy to be a part of the growth of your business!
 Verified Customer
The customer support was very responsive and answered your questions quickly making it move real fast. They would answer questions and when you call, you have a direct number to a person and not go through a series of menus. They were very professional. They're so responsive.
Reply from Lendio
Jan 23, 2019
Your dedicated personal funding manager will ask about your needs, walk you through different loan options, and help you choose the perfect small business loan. We are ecstatic to hear your funding manager provided you with a great experience. Please keep us in the loop while your business progresses!
 Verified Customer
The process was pretty straight forward and convenient.
Reply from Lendio
Jan 23, 2019
We are your business loan advocate it's our duty to find you the best loan options available for you with our platform of lenders. Thank you for the 5 star review, Heather!
 Verified Customer
There were some paperwork issues that I had to go back through and try to figure out how to provide them but that's normal. The customer service was very responsive.
 Verified Customer
I chose Lendio because they were very personable and they made me think like they were on my team. The process was very easy, it was quick and not a hassle. They have good customer service. Any questions that I had were answered. Anything that I needed, maybe they didn't know, but they found out and let me know right away.
Reply from Lendio
Jan 23, 2019
We do our best to go as quickly or as slow as you need us to always keeping in mind what is most important to you and the growth of your business! Thank you for the great 5 star review!
 Verified Customer
The process was very easy and the loans used you did everything online. And once that deal is made, it's usually quick that you can give the money.
Reply from Lendio
Jan 23, 2019
Lendio has a platform of over 75 different lenders that creates so many options for our business owners! So good to hear your funding manager was able to get you a great product that worked for you! Thank you for the 5 star review!
 Verified Customer
The guy from customer service was really friendly and professional.
Reply from Lendio
Jan 23, 2019
Yay, we are thrilled to hear you enjoyed your experience, John!
 Verified Customer
It was easy to deal with our customer service representative. He was very quick at getting back to us. The process was quick and easy.
Reply from Lendio
Jan 23, 2019
Lendio offers every merchant a life long relationship which means security for you and the health of your business! We are so happy to be a part of the growth of your business!
 Verified Customer
Deceitful suggestions and scenario. Pushed a lot about a product that did not end up following what they said. The loan company that they set me up with had many common reviews from other clients who used Lendio.
Reply from Lendio
Jan 22, 2019
Ryan, we apologize for your most recent experience with Lendio. We work hard to match customers with lenders that provide the best product based on what our customers qualify for. With that said, please call us directly so that we are able to review your scenario and work to improve your overall experience. You can call and ask for our Director of Customer Experience at 855-853-6548
 Verified Customer
The process was easy, and Lendio never skipped a beat..
Reply from Lendio
Jan 23, 2019
Our funding managers have a keen eye for the lending world and they are able to navigate so you don't have to! Thank you for the review and recommendation!
 Verified Customer
Very easy loan process and outstanding customer service
Reply from Lendio
Nov 29, 2018
We appreciate your kind words, thank you for the opportunity to work with you!