Headquartered in South Jordan, Utah, Lendio is a leading business loan marketplace. It boasts a massive library of lenders, a wide array of loan products, top rankings in Entrepreneur magazine, and an award-winning culture. 

The company’s mission is to fuel the American Dream by helping small business owners across the US find the financing they need to expand, develop, or simply keep their doors open in times of crisis — all through an easy-to-use, 15-minute application.

To date, Lendio has facilitated over 200,000 small business loans for $10 billion in total funding —including $8 billion in PPP loan approvals as part of government COVID-19 relief (which helped save an estimated 1.1 million jobs). Yet, there’s more to the company than numbers.

Lendio is innovative and adaptive. It’s a values-driven organization striving to provide equal access to capital for underserved communities and America’s smallest businesses. 

Read on to discover The Good, The Bad, and The Bottom Line about Lendio, as well as view verified Lendio reviews from past borrowers.

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The Good

  • Easy 15-Minute Application
  • Loan Options from More Than 300 Lenders
  • Variety of Loan Types
  • Helpful Loan Calculators
  • Live Chat
  • Bookkeeping Software Incentive 
  • 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 receive funding in as little as 24 hours. 

Loan Options from More Than 300 Lenders

Lendio is committed to helping each business owner identify financing options through the lender that is right for them. As a result, the company offers loan options from more than 300 alternative lenders. Several well-known banks and lending institutions are included in these options:

  • American Express
  • Kabbage
  • OnDeck
  • Authorize.Net
  • Headway Capital
  • Funding Circle
  • Opportunity Fund

By having several options to choose from, borrowers 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, short-term loans, merchant cash advances, business term loans, business credit cards, equipment financing, commercial mortgages, accounts receivable financing, startup loans, business acquisition loans, and SBA loans.

Business Line of Credit

  • Loan amounts from $1,000–$500,000
  • Loan terms from 1–2 years
  • Funding time between 1–2 weeks
  • Interest rates ranging from 8%–24%
  • 6 months or more in business
  • $50,000 or more in annual revenue
  • Credit score of 600 or higher
  • May require collateral
  • Only pay interest rates on the funds you use, not the entire amount borrowed

Short Term Loan

  • Loan amounts from $2,500–$500,000
  • Loan terms from 1–3 years
  • Funding time as soon as one business day
  • Interest rates starting at 8%
  • At least 2 years in business
  • Solid credit score required

Merchant Cash Advance/ACH

  • Loan amounts from $5,000–$2M+
  • Loan terms up to two years
  • Funding time as soon as one business day
  • Interest rates starting at 18%
  • Pay back the loan by paying a percentage of your daily credit card deposits
  • Typically doesn't require collateral or credit pulls
  • 4–6 months of bank statements or receivables

Business Term Loan

  • Loan amounts from $5,000–$2,000,000
  • Loan terms from 1–5 years
  • Funding time as soon as one business day
  • Interest rates starting at 6%
  • Fixed interest rates or a fixed flat fee
  • 15-minute application
  • Funding for just about any business opportunity
  • Credit score, time in business, and collateral required
  • P&L statements or bank statements may be needed to show revenue

Business Credit Card

  • Loan amounts from $1,000–$500,000
  • Loan terms from 1–2 years
  • Funding time between 1–2 weeks
  • Interest rates ranging from 8%–24%
  • Credit score of 680 or higher
  • May require collateral
  • 15-minute application

Equipment Financing

  • Loan amounts from $5,000–$5,000,000+
  • Loan terms from 1–10 years
  • Funding time as soon as one business day
  • Interest rates starting at 7.5%
  • Covers a variety of financing needs, including forklifts, point-of-sale software, office furniture, appliances, delivery vehicles, solar panels, HVAC units, etc.
  • At least 1 year in business
  • $50,000 in annual revenue
  • Credit score of 650 or higher
  • Credit score lower than 650 requires proof of solid cash flow and revenue for the past 3–6 months
  • Equipment you purchase can be used as required collateral
  • 15-minute application

Commercial Mortgages

  • Loan amounts from $250,000–5,000,000+
  • Loan terms from 20–25 years
  • Funding time as soon as 45 days
  • Interest rates ranging from 4.25%–6%
  • Use to purchase or build a business location, expand or remodel your current business location, or refinance a payment term to adjust your interest rate
  • Loan amount based on credit score and property you're using as collateral
  • May need to provide purchase contract, property blueprints, market analysis for property, project budget, scope of work, and assessment of the property's existing condition

Accounts Receivable Financing

  • Loan amounts up to 90 percent of receivables
  • Loan terms up to 1 year
  • Funding time as soon as 3 days
  • Interest rates starting at 5%
  • No collateral required (Factoring is secured by your eligible invoices) 

Business Acquisition Loan

  • Loan amounts from $5,000–$5,000,000
  • Revolving loan terms from 10–25 years
  • Funding time as soon as 30 days
  • Interest rates starting at 5.5%
  • Approval based on credit history, time in business, and revenue
  • Must provide financial performance and financial projections

Small Business Administration (SBA) Loan

  • Loan amounts from $50,000–$5,000,000
  • Loan terms from 10–25 years
  • Funding time between 30–90 days
  • Interest rates based on prime rates, which are rates that commercial banks charge customers with trustworthy credit

Lendio offers a variety of SBA loans. To qualify, you'll need two years of business and personal tax returns, a YTD profit and loss statement, a YTD balance sheet, and a debt schedule. The most common SBA loans that Lendio offers are SBA 7(a) loans, SBA 504 loans, and SBA Express loans. Lendio's website provides the following information about SBA loans and the company's specific requirements:

  • SBA 7(a) Loan — This is a loan used to purchase land, cover construction costs, expand an existing business, refinance current debt, or buy machinery, furniture, supplies, or materials. SBA 7(a) loans of $25,000 or less typically do not require collateral. However, larger loan amounts will likely need collateral to qualify. 
  • SBA 504 Loan — Once awarded an SBA 504, your lender will typically cover 50 percent of your project costs, while your SBA loan covers 40 percent. This means that you will need to provide the other 10 percent at the time of funding. Depending on your circumstances, you may need to cover up to 20 percent. This loan type is mainly used for financing fixed assets, but other costs may be eligible for coverage. Qualified projects include purchasing an existing building, buying a new facility or renovating it, purchasing land or making improvements to it, buying long-term machinery, or refinancing debt you incurred by expanding or renovating your business, facilities, or equipment.
  • SBA Express Loan — This express loan is meant for people who need funds quickly. These loans are typically reviewed within 36 hours, but it may take up to 30 days to receive funding. SBA Express loan amounts can reach up to $350,000. Loans more than $25,000 will likely require collateral. Loan terms can range from 5–25 years.
  • PPP Loan — While the Paycheck Protection Program has ended as of August 8, 2020, Lendio's role in facilitating these loans speaks to its competence in helping consumers obtain SBA loans. During the COVID-19 crisis, Lendio facilitated over $8 billion total for more than 100,000 businesses through the Paycheck Protection Program loan (PPP loan). Many customer reviews describe being initially frustrated by their prospects in obtaining the loan through other lending institutions but finding success through Lendio’s application and loan matching service. 

Helpful Loan Calculators

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 type of business loan borrowers might be interested in, including the following: 

  • Automated Clearing House (ACH) Loan Calculator 
  • Business Credit Card Calculator
  • Business Term Calculator 
  • Equipment Loan Calculator 
  • Short-term Loan Calculator
  • Startup Business Loan Calculator 
  • Commercial Mortgage Calculator 
  • Line of Credit Calculator 

Live Chat

Lendio provides live chat software on its website so that its customers can enjoy a convenient, on-demand customer service experience. Through this software, Lendio employees are available to assist borrowers and answer questions about business loans within minutes. 

Bookkeeping Software Incentive 

Lendio incentivizes getting your books in order by providing a bookkeeping software called Sunrise. Prospective borrowers with active Sunrise accounts are two times more likely to receive funding. While it’s not a guarantee of funding, using Sunrise by Lendio can give you a leg up as you prepare to apply for a business loan. 

Sunrise tracks incoming and outgoing money within your organization’s interactions with customers and vendors. It also connects your bank accounts, allows you to create and manage your invoices (set to paid, unpaid, or overdue), and generates visuals that display profit and loss patterns. 

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. 

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The Bad

  • Variability of Options
  • Not a Financial Institution 
  • No Face-to-Face Consultation 

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, Lendio can’t make promises about rates or fees because it is not setting the terms for the loan offers. Plus, some borrowers may be overwhelmed by the sheer number of options within a network of over 300 lenders. 

Not a Financial Institution 

Prospective borrowers should be aware that Lendio does not directly finance loans. Rather, it is a technology company that facilitates the optimal matching of borrowers to lenders using a proprietary algorithm. Therefore, Lendio is not responsible for the interest rate, repayment term, or any other aspect of the loan itself. 

Keep in mind that each Lendio review may reflect the consumer’s experience using Lendio’s marketplace, the quality and service of the loan obtained with one of Lendio’s partnered lenders, or both. 

No Face-to-Face Consultation 

Lendio does assign each borrower a dedicated personal funding manager to ask about your needs and walk you through different loan options, just as an online lender or bank representative would do. But these interactions are all virtual; there are no in-person consultations at a brick-and-mortar location, which may deter some borrowers. 

The Bottom Line

Lendio has earned the respect of small business owners by providing the following:

  • A simple application process so you don't have to waste valuable time being unsure of what to do next. 
  • A personal funding manager to walk you through each step. 
  • Helpful loan calculators to reference throughout the process. 
  • A large number of lenders in its business loan marketplace, improving your chances of finding a lender that will work with you. 

Plus, while this doesn’t impact the service you receive, Lendio is a company that gives back. It donates a percentage of funds to low-income entrepreneurs around the world for every loan facilitated. If you start and complete your borrowing journey with Lendio, you have the satisfaction of knowing your business has helped borrowers in impoverished countries obtain short-term micro-loans. 

The bottom line is that you can submit an application online, and — depending on the loan type and amount — you can receive your funds in as little as one business day. 

Want to hear from consumers who have actually worked with Lendio? You can find Lendio reviews below if you want to see what customers have to say about the lender. The majority of Lendio's ratings and reviews are five-stars, highlighting the company's open communication, quality customer service, simple application and loan process, and competitive rates. 

As a trusted name in business lending with overwhelmingly positive feedback from customers with businesses of their own, we highly recommend that you use Lendio’s marketplace for your working capital and other borrowing needs. 

Lendio Frequently Asked Questions

What types of business loans can I apply for with Lendio?

Lendio offers a variety of different loan types that include business lines of credit, SBA Loans, Business Term Loans, Equipment Financing, and more.

What are Lendio’s basic business loan requirements?

There are many factors when it comes to approving a business for a loan; however, many business can get approved if they have been in business for one year, have more then $10,000 in monthly revenue, and a credit score of at least 550.

Is Lendio a direct lender?

No, Lendio is not a direct lender. We are an online marketplace that helps connect businesses with the best available loan options.

How many lenders are in Lendio’s network?

We have over 75 lenders in our network.

What is the highest loan amount Lendio provides through its network?

We provide loans for up to $5,000,000 and greater, depending on the product.

How do rates compare to other business loan providers?

Since we have over 75 lenders in our network, we do everything we can to help a business secure a loan at the rates that work best for them and their situation.

Does Lendio charge any fees for using its online lending marketplace?

There is no fee at all to apply through Lendio and see what options your business may qualify for. However, like with any loan, there will be an interest or fix fees but none of that money goes to Lendio.

Will applying with Lendio impact my credit score?

Applying is free and will not impact your credit.

How quickly will Lendio transfer funds once the loan application and approval are complete?

Once the loan application and approval are completed, you can access your capital in as little as 24 hours.

User Reviews

Star Rating

4.7
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486 Reviews

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David

May 22nd, 2020 DETAILS arrow_drop_down
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Very quick, good communication and very transparent with you. You know the whole process and the terms of the loan and everything.

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Reply from Lendio

May 26, 2020

Thank you very much for your feedback, Mikhail! Apologies for the inconvenience with the BlueVine application - they've been recently onboarded into our network of lenders, so our data can't be transferred to their automated system directly just yet - completing their application again allows us to process your application much more quickly.

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Mikhail

May 22nd, 2020 DETAILS arrow_drop_down
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The overall experience was fine. The confusing part was that once I filled out all the information, Lendio sent me to BlueVine and at BlueVine I had to fill out the same information.

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Reply from Lendio

May 26, 2020

Thank you very much for your feedback, Mikhail! Our apologies for the inconvenience - BlueVine is a recent addition to our PPP lending network, so our system doesn't yet interface properly with their automated system.

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Daniel

May 22nd, 2020 DETAILS arrow_drop_down
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The team did it quickly, just as they said they would. He absolutely came through. Were rigth there when they said.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Daniel! Glad we were able to provide you a quick and quality experience.

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John

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So far it's been a great experience because of the quick response times and communication after I filled out the forms. I can't believe how easy it was after I was frustrated for four weeks with Bank of America and I had an answer within two days with Lendio.

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Reply from Lendio

May 26, 2020

Thank you so much for your feedback, John! It's been our pleasure to be of service. Glad we were able to provide you a quick and simple experience.

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Mark

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A friend recommended it to me. It's fast and easy.

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Reply from Lendio

Jul 10, 2020

Thanks, Mark! We’re glad to hear that this was an easy process for you! All the best to you in the future!

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Raymond

May 22nd, 2020 DETAILS arrow_drop_down
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They were very efficient and they referred me to BlueVine which was another company I guess. I was approved to date so it was a great experience. I got to talk to somebody and was given the right advice.

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Reply from Lendio

Jul 10, 2020

Hi Raymond! Thank you for trusting your business and it’s needs with Lendio at this time. We understand the urgency and are happy we were able to help you get the funding you needed. All the best to you in the future!

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Gregory

May 22nd, 2020 DETAILS arrow_drop_down
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I had to reduce some documents and they were very expedient and allowing me to upload different documents. We tried a couple of others and Lendio was the most responsive.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Gregory! Glad we were able to provide you quick and effective service during this time.

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Dominick

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The process is simple and concise. We didn't really need to much customer support because everything's pretty much laid out for us. The process was great from beginning to end, very quick and simple.

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Reply from Lendio

Jul 10, 2020

Hello Dominick! Thank you for your wonderful feedback! We are thrilled to know that the process for filling out the PPP application was easy from beginning to end. That is our goal! Thank you for your review!

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Alex

May 22nd, 2020 DETAILS arrow_drop_down
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There is very simple paperwork. Very little contact.

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Reply from Lendio

May 26, 2020

Thank you for your feedback, Alex! Glad we were able to provide you a good experience.

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Ivo

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It was very quick and easy. I'm very happy it worked out. It fits my needs.

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Reply from Lendio

May 26, 2020

Thanks for your feedback, Ivo! It's our pleasure to be of service. Glad we were able to meet your needs!

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Anonymous

May 22nd, 2020 DETAILS arrow_drop_down
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They are easy to go online and apply. The loan wasn't hard. Very professional. It was answered quickly and also purposefully and they explained everything in detail to my satisfaction.

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Reply from Lendio

May 26, 2020

Thank you for the kind words! It's been our pleasure to be of service.

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Brian

May 22nd, 2020 DETAILS arrow_drop_down
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It was easy to go through the process. It was just a very good experience.

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Reply from Lendio

May 26, 2020

Thanks for your feedback, Brian! Glad to hear that we were able to provide you with such a good experience.

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Anonymous

May 22nd, 2020 DETAILS arrow_drop_down
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I submitted and learned really quickly and was approved. It was an easy process. The efficiency of the process. It was fairly straightforward.

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Reply from Lendio

May 26, 2020

Thank you so much for your feedback! Glad to hear we were able to provide you the quick and effective service Lendio strives for.

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Jim

May 22nd, 2020 DETAILS arrow_drop_down
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The application process was simple. The communication from their end was great and finding out happened very quickly.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Jim! Glad to hear we were able to provide quick and effective service during this time.

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Jerry

May 22nd, 2020 DETAILS arrow_drop_down
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It was easy and fast. I didn't have any interaction with their support.

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Reply from Lendio

Jul 10, 2020

Thank you for your feedback, Jerry! It's our pleasure to be of service to our borrowers; glad to hear we were able to provide you quick and effective service! Thanks again!

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Chad

May 22nd, 2020 DETAILS arrow_drop_down
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It was referred to me by a friend. Fast and easy. Great service and response time was fast. Quick application process. Simple and fast.

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Reply from Lendio

May 26, 2020

Thank you for your feedback, Chad! Glad to hear that we were able to provide your friend a referral worthy experience, and we hope we've done the same for you!

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Ari

May 22nd, 2020 DETAILS arrow_drop_down
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We get emails every once in a blue moon, other than that great service, very communicable.

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Reply from Lendio

May 26, 2020

Thank you for your feedback Ari! It's been our pleasure to serve you, and we'll be sure to incorporate your feedback so we can make the process even better next time!

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Cecilia

May 22nd, 2020 DETAILS arrow_drop_down
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It was easier applying to them. The process is simple to do. The minute I upload all the information we needed and got the loan. Somoene from the office was very helpful and tried to reach out to me. He was very nice.

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Reply from Lendio

May 26, 2020

Thank you for the feedback, Cecilia! Glad to hear we have been able to provide quick and effective service!

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Paul

May 22nd, 2020 DETAILS arrow_drop_down
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It was way better than I ever thought it would be. Way easier and professional and quick. You got quick responses during this pandemic.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Paul! It has been our pleasure to serve you. Lendio is committed to providing quick and quality service despite the times. Glad to hear we were able to live up to this commitment while we served you!

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Ruth

May 22nd, 2020 DETAILS arrow_drop_down
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It was thorough and easy to follow. Your follow-up has been great.

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Reply from Lendio

May 26, 2020

It's been our pleasure, Ruth! Glad to hear you were satisfied with our quick and personal follow-ups.

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Joshua

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Clear communication and personal follow-up and feedback.

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Reply from Lendio

May 26, 2020

Thank you for your feedback, Joshua! It's our pleasure to provide quick and personal communication to our borrowers - glad to hear that you appreciate our commitment to doing so!

Verified Customer

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Clem

May 22nd, 2020 DETAILS arrow_drop_down
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It was quick and easy. Everything was done online.

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Reply from Lendio

May 26, 2020

Thanks for your feedback, Clem! Glad to hear that you found the application simple and efficient!

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Clifford

May 22nd, 2020 DETAILS arrow_drop_down
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They were responsive. It was very eifficient. It was only a couple days.

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Reply from Lendio

May 26, 2020

Thanks so much, Clifford! Glad to hear we were able to service your application quickly and effectively.

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Marielo

May 22nd, 2020 DETAILS arrow_drop_down
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I'm very pleased you guys helped me get a loan. You guys did a good job. My accountant did all the paperwork.

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Reply from Lendio

May 26, 2020

Thanks for your feedback, Marielo! Congratulations on receiving funding - we're glad to have been of service!

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Ryan

May 22nd, 2020 DETAILS arrow_drop_down
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Easy to use and easy application.

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Reply from Lendio

May 26, 2020

Thanks for your feedback, Ryan! Glad to hear you found the process simple and effective!

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Tamra

May 22nd, 2020 DETAILS arrow_drop_down
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It was very simplistic. Everything was done through email and online.

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Reply from Lendio

May 26, 2020

Thank you for your feedback, Tamara! It has been our pleasure to be of service.

Verified Customer

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Anonymous

May 22nd, 2020 DETAILS arrow_drop_down
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When I called with a question, everything was answered quickly. Everything went smoothly. Quicker than I thought.

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Reply from Lendio

May 26, 2020

Thanks! We’re glad to hear that this was an easy process for you!

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William

May 22nd, 2020 DETAILS arrow_drop_down
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It was really easy to fill out the forms and everything. When I applied for my loan and had questions about my documents, I wasn't able to reach out or interact with anybody that can answer my question.

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Reply from Lendio

May 26, 2020

Hi William, we're sorry that we weren't able to help answer your questions very quickly. We've had an overwhelming amount of applications come through but we're doing our best to get back to everyone. We appreciate your review!

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Fatih

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Great customer service and simple, easy process. It was so easy that I did everythign in fifteen minutes or so. Great company to work with.

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Reply from Lendio

Jul 10, 2020

Thank you, Faith! Quick and simple is how we do things here at Lendio! Thanks again!

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Patrick

May 22nd, 2020 DETAILS arrow_drop_down
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It was a very simple process and I'm happy with the result.

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Reply from Lendio

May 26, 2020

Hello Patrick! Thank you for your wonderful feedback! We are thrilled to know that the process for filling out the PPP application was easy from beginning to end.

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Samuel

May 22nd, 2020 DETAILS arrow_drop_down
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Didn't need any customer support. The money came so I am satisfied. He sent me to the right place.

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Reply from Lendio

Jul 10, 2020

Thank you for trusting your business and it’s needs with Lendio at this time. We understand the urgency and are happy we were able to help you get the funding you needed. All the best to you in the future!

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Anonymous

May 22nd, 2020 DETAILS arrow_drop_down
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I was referred by a payroll company. It was easy and excellent.

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Reply from Lendio

May 26, 2020

We're doing all we can to make the process as quick and easy as possible, thanks for your review!

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Roxana

May 22nd, 2020 DETAILS arrow_drop_down
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It was suggested by my payroll porvider. Somebody gets back to you to help.

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Reply from Lendio

May 26, 2020

Thank you for your feedback, Roxana! It has been our pleasure to keep you informed, and we’re glad to hear that you found the process effective!

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Sanjiv

May 22nd, 2020 DETAILS arrow_drop_down
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The process was very simple, easy, and quick. I didn't need customer support because everything was done online.

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Reply from Lendio

May 26, 2020

Thank you, Sanjiv! Here at Lendio, we are working with everything we got to make the process as smooth and simple as it can be. Thank you for your review!

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Robert

May 22nd, 2020 DETAILS arrow_drop_down
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It was a very streamlined and easy service and I'm glad I did it.

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Reply from Lendio

May 26, 2020

We're glad you did it as well, thank you for your review Robert!

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Emily

May 22nd, 2020 DETAILS arrow_drop_down
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It's easy and quick. The two times I have emailed them I didn't get any response.

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Reply from Lendio

Jul 21, 2020

Hi Emily! Here at Lendio, we all work diligently to deliver the best service possible! Thank you for your review and kindness. We look forward to continuing to assist you and improving our services. Thanks again!

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Gerardo

May 22nd, 2020 DETAILS arrow_drop_down
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My process was very quick, something like 24 hours, just to complete everything. Lendio is a very reliable company and use them for whatever loan purposes.

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Reply from Lendio

May 26, 2020

Thank you for trusting your business and it’s needs with Lendio at this time. We understand the urgency and are happy we were able to help you get the funding you needed. All the best to you in the future!

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David

May 22nd, 2020 DETAILS arrow_drop_down
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It was an excellent choice. They are reliable and fast.

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Reply from Lendio

May 26, 2020

Thank you for your feedback, David! It's our pleasure to be of service to our borrowers; glad to hear we were able to help you effectively and help secure your funding!

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Tiffany

May 22nd, 2020 DETAILS arrow_drop_down
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Someone recommended them to me. It was very easy.

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Reply from Lendio

Jul 10, 2020

Thank you for your feedback, Tiffany! It's our pleasure to be of service to our borrowers; glad to hear we were able to provide you quick and effective service! All the best to you!

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Anonymous

May 22nd, 2020 DETAILS arrow_drop_down
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It was very simple and clear. It was great.

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Reply from Lendio

May 26, 2020

Thank you for your feedback!

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Masood

May 22nd, 2020 DETAILS arrow_drop_down
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It was amazingly efficient and resulted in very positive results in a very short time. It was very simple and short.

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Reply from Lendio

May 26, 2020

Thank you so much, Masood! We know how much is at stake for businesses all over the country - that's why we try to make the process as smooth and simple as possible!

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Marvin

May 21st, 2020 DETAILS arrow_drop_down
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The process of obtaining the loan was fast, easy, and quick.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Marvin! It has been our pleasure to be of service.

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John

May 21st, 2020 DETAILS arrow_drop_down
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Everything went very quick and smoothly. It was very streamlined and easy compared to the PNC process that I went through before. Much easier, more streamlined, much more efficient.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, John! Glad to hear we were able to provide a quick and effective process.

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Kevin

May 21st, 2020 DETAILS arrow_drop_down
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All my questions were answered.It was very simple and very efficient.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Kevin! Glad we were able to assist you with your questions and provide you effective service.

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Steve

May 21st, 2020 DETAILS arrow_drop_down
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Very easy process and well streamlined. Follow up was good.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Steve! It's been our pleasure to be of service.

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Roy

May 21st, 2020 DETAILS arrow_drop_down
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It was very easy with quick funding. I'll use Lendio again.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Roy! Glad we were able to serve you well through this process, and we look forward to assist you and your business further in the future!

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Miguel

May 21st, 2020 DETAILS arrow_drop_down
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They are fantastic. Very user friendly and in a timely manner.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Miguel! It's been our pleasure to provide you quality service.

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Anonymous

May 21st, 2020 DETAILS arrow_drop_down
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It was pretty good. It was a little bit confusing in the beginning.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback! Glad we were able to assist you, and help clear things up!

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Howard

May 21st, 2020 DETAILS arrow_drop_down
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Easy and quick. They were very responsive and followed up with me.

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Reply from Lendio

May 26, 2020

Thanks so much for your feedback, Howard! It has been our pleasure to provide you with quick and quality service throughout this process.

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Brian R

April 15th, 2020 Winter Springs, FL

PPP LOAN SCAM ALERT... I applied for a PPP Loan with Lendio on April 8th. On Friday April 10th I received a phone call from Alex R and was told they needed two additional documents to complete my application. One our later I uploaded both of those documents and then sent a follow-up email to Alex to tell him I had done so and to please confirm that was all that was needed. Monday the 13th I had not heard a single response back. So I sent a second email and left numerous messages on both Alex's voicemail and Lendio. Next day I get an eamil.... Good News your loan is ready to be submitted but we need more info and it proceeded to list the info it needed. Everything in the list was asked during my original loan submission and Alex had confirmed on the 10th they had. So back to the site I go and resubmit. I then proceed to email Alex again with no response and ...Finally after I stated I was going to file a BBB and States Attorney Complaint I get a call back from Alex. I have him verbally verify that yes they have EVERYTHING the need from me on my end for the application. I then ask him if my application will now be submitted to the 300+ SBA lenders they said my app would be submitted to. He states no it won't my application is still in line in the same place. I ask him again when will it be submitted. He states once a lender becomes available it will be submitted. I ask him to clarify what do you mean once one becomes available. Your adverting on your website at the time I originally submitted stated... "Fill out 1 simple application. There’s no fee or obligation, and it won’t impact your credit." "Explore small business loan options from 300+ lenders. We’ll help you choose the best one."... - This now states as of today 75+ "Get the capital you need in as little as 24 hours so you can get back to running your business." "Multiple lenders. One application. Our streamlined application process and proprietary algorithm match you with loan options from a nationwide network of esteemed lenders. We’ve helped small business owners like you get over $1.4 billion in loans. Which means we must be doing something right." Yes $1.4 in loans to all the BIG small business. They are taking all the high dollar loans and getting them funded to collect there commission why'll the TRUE SMALL business like ours is left in a database somewhere on a server. These are all lies and deceptive marketing. This is criminal at a time small business needs these loans to keep there business from going under. The only part that was accurate was... "Fill out 1 simple application" and that is not even accurate when you take into account I had to submit it now 3 times... According to Alex they don't have 300+ nor even the 75+ they now marketing to small businesses. They have ZERO.... I am told once a lender becomes available they will submit my application. As of today I have ZERO information as to what is going on with my application. When I pressed ALEX for answers he HUNG UP THE PHONE ON ME TODAY. This company is praying on small business in the time of need with false claims and marketing. They started with 300 lenders and an email they send out states they add 10 new ones per day to the list. As of today the site now states 75+... This is an email I received shortly after my application was submitted... "Good news! SBA-licensed lenders are now funding! We have definitely seen the pace of loan processing increase over the last 24 hours. We have over 300 lenders participating in the PPP program and adding about 10 new lenders per day. Until now, most lenders have been working through the logistics to actually fund their first PPP loan. As the kinks continue to be worked out, speed will dramatically increase. " That was from an email dated April 9th 2020... Today April 14th there site now states 75+...I guess there scam is starting to catch up to them. How do you go from 300 and adding 10 a day to only 75 in less than a week.And according to ALEX today on the phone they have ZERO to submit my loan to as of today. I guess they realized the fake, false, illegal bait and switch advertising was going to bring criminal charges and lawsuits. This company is the worst of the worst praying on small business at this time of desperate need. They need to be investigated for criminal intention to defraud small business. I have demanded a call from Management and can not get one. I have been hung-up by my loan representative. This company is continuing to pray on small business and needs to be investigated and shut down.

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Reply from Lendio

Apr 18, 2020

We apologize that your experience was not what you hoped for. As you can imagine, we have had an overwhelming response to the PPP/CARES Act funding and we have increased our staff with 170 new employees in this unprecedented time trying to help us reach out to EVERY SINGLE business owner that contacted us. While the BIG BANKS took care of only their largest account holders, Lendio funded 50,000+ small businesses from Main Street America and we are awaiting additional funding approval from Congress so we can help more.