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Lendio

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8.1

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LAST UPDATED: February 9th, 2024

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 verified Lendio reviews from past borrowers.

Click here to go straight to Lendio reviews.

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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

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 
  • Invoice Factoring 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, origination fee, loan forgiveness, or any other aspect of the loan product. Those and other details are left to the discretion of the direct lender.  

Keep in mind that each Lendio review may reflect the consumer's experience using Lendio's platform, 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. 

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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. 

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Star Rating

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4.6

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507 Reviews

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Verified Customer

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David Cannata Spanish Fork, UT

Predatory lending, David gave me his word on helping me get to a term loan which was why I went with him. He led me along telling me all the right things got me into a crappy loan telling me ill be out in 3 months. And low and behold when I called to work on the term deal 4 months later...no answer, to busy, wont call me back!!! Snake in the grass, no integrity, salesman.... I will spread the word.

4 years ago

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Reply from Lendio

We apologize for your experience. Our Customer Experience Director and one of the founders of the organization is looking into this and are trying to understand the situation better. Please do not hesitate to contact us at 855-853-6548 so that we can assist you in resolving your concerns.

Aug. 30th, 2019

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Jacob San Francisco, CA

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.

5 years ago

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Ryan

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.

5 years ago

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Reply from Lendio

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

Jan. 22nd, 2019

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JT Tran West Palm Beach, FL

One of the worst, applied for the PPP but i told them i wanted to wait before moving forward because there was going to be an option where you can choose line 7 instead of line 31 in your schedule C. We waited and as soon as it was passed, i called them and they had me send documents and had me choose line 7 and so forth. Then i ended up not getting the line 7 but was offer line 31 and lendio had no idea what happened and said i did everything right and they have no idea what happened, after that they just ignored my phone calls and emails, even when i called corporate, they dont care. They tell you they will let their supervisor know and will contact you soon but they never do. They screwed me over and they ignore you after that, not just the agents but the corporate themselves, they dont care if you’re business and employees are suffering, they make a mistake and they ignore you after that, they dont try to fix it or compensate. Everyone told me to go to this other person and i should of listen but i didnt and went with lendio. So everyone else please listen to me and avoid lendio before you get screwed over like i did. No matter who i talked to they always ask what my business is, which is a nail salon and end up ignoring me, i wonder why.

3 years ago

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Reply from Lendio

Hi JT Tran, we apologize for the experience you've had with us so far. We do our best to help every business owner that needs it, with so many reaching out to us daily it's difficult to get to everyone as quickly as they would like. Please reply to us in a private message with your business name/phone number so we can reach out to you and help make things right.

Mar. 29th, 2021

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Jonathan Lumberton, NJ

On 2/17 my business submitted an application for the 2nd round of PPP. The representative emailed and wrote to make sure everything was up to date. Then two weeks later she calls and ask for 2019 tax information. I had to remind her that my business started in early January 2020. She apologize and updated the invalid date. Then she requested the 2020 941/940's which I had already uploaded to the portal. On March 1, 2021 our application was switch to another representative and he asked for the same information that I have already uploaded to the Lendio portal. Now I am being told my business has already been assigned a loan number but, no one has provided sed loan number and we have check the CAWEB portal still no new loan number. I have called countless of times and now I'm frustrated. All I want to do is be a business owner and provided for my clients as well as family. The reason for the 1 star is because it has been a month and we have not received any update just emails requesting documentation that I have uploaded to the portal. Now I'm stuck because every time I try to apply for another lender I am being denied because it states my business has been assigned a loan number which no one thought to provide to us. Lendio has been a disappointment for a lot of self employed/business owners. Reddit has a lot of angry people stating the same or worse about Lendio.

3 years ago

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Reply from Lendio

Hi Jonathan, we apologize for the lack of communication throughout the funding process. If you can provide us with your business info in a private comment here, we'll be able to see your file and further assist you.

Mar. 22nd, 2021

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Dinora Acevedo North Richland Hills, TX

I started this process with the 2nd PPP and it is has been hell with this company. You can not speak to anyone and they do not respond to emails. I appears they did good doing the first PPP but this 2nd round they are lost. I would not recommend this company for any kind of loan. I started this back on 02/19/2021 I have been in the lending status for 2 and half weeks and every week they change funding managers on you I have had 3 doing this time. I have requested to withdraw my application and can not get a response. On there site there is a link that allow you to withdraw your application but it goes no where it ask you to call 855-xxx-xxxx and when you call it tells you that they are too busy to answer the call to try and email someone. So I requested by email and still no answer from anyone. DO NOT WASTE YOU TIME with LENDIO. Poor, Poor, Poor choice.

3 years ago Edited September 14, 2021

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Reply from Lendio

Hi Dinora, we apologize for the experience you've had so far and we want to try to make it better. Please reach out to us via the chat feature on our website, and we will do our best to help.

Mar. 18th, 2021

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Brian R 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.

3 years ago

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Reply from Lendio

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.

Apr. 18th, 2020

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Terrelya Hoskins Seattle, WA

I literally met every qualification they asked for and yet they still found a reason not to. I don't have the amount of deposits/transactions going in and out of my business account. They wanted direct access (passwords too) to my accounts. The type of business I do doesn't require multiple deposits yet they still wasted my time. Someone on Facebook asked a question if they helped the same type of business I do. They deleted my comment then blocked me from answering. Sounds like to me they don't want transparency. They should answer the questions truthfully instead of wasting people's time. Suddenly, I can't get a hold of them by phone either. Hmmmm.....

5 years ago

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Reply from Lendio

Hi Terrelya, we apologize that your experience was less than desirable. Lendio is the marketplace for 75+ lenders that we partner with to help merchants get funding. Each lender requires various information to ensure you are qualified for the loan and to be able to pay it back. Unfortunately, we are not able to obtain funding to 100% of our merchants based on those qualifications. Please contact our Customer Experience Director at 855-853-6346 and we would be happy to review your account with you.

Nov. 13th, 2018

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Ryan

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.

5 years ago

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Reply from Lendio

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.

Feb. 12th, 2019

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ACE KIM Honolulu, HI

It's the worst company I've ever had in… It's the worst company I've ever had in America. The company delayed my loan application for four months, changing managers, and now handed it over to a partner company. I am really disappointed that there are still companies that do this kind of service. If you want a business loan, contact your bank or other lender. I never recommend this company.

2 years ago

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Reply from Lendio

Hi Ace, we're sorry you feel this way but it's important to remember that the way we work here at Lendio is we get you connected with one of our partner companies who will then do the actual funding. Lendio is not a lender, we work as a marketplace to help you find/receive the funds you need. We're sorry that it took so long and we wish you and your business success in the future.

May. 11th, 2021

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Patrick Clemmons McDonough, GA

I feel like I'm being missed led by my lendio rep every day he's either telling me to chang something on my application or to be expecting a contract I feel like he's just telling me what I want to here I was approved for the first round. I have excellent credit all of my documents I do not no what's the hold up. I think I'm being missed led I don't trust my rep knows or care about what he's doing.

2 years ago

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Reply from Lendio

Patrick, we apologize for the experience you've had with Lendio so far. It looks like there are still some things we need to adjust on your application, we will reach out to you asap to get this resolved. We appreciate your patience and understanding!

Apr. 5th, 2021

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Dusty Blasko Akron, NY

If I could give a NEGATIVE I would, SBA assigned a loan number to me on January 26th and I have yet to receive any updates. I have been assigned multiple "Account Managers" and none have answered any of my questions. I have been emailing all 3 the last few weeks and still nothing. I can't go to my bank for a new loan because we are almost out of time. I want some sort of answer because at this point they are hurting my business.

3 years ago

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Reply from Lendio

Dusty, please reach out to us using the chat feature on our website. We apologize for the lack of communication, we are trying our best to get to every business owner as quickly as possible.

Mar. 18th, 2021

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ALath Portland, OR

They took my Payroll Protection loan application, never acknowledged receipt, did not return 2 phone messages, finally 6 days later they now have a pop up customer support when you login to your account and I asked about my application. They had sent it to my credit union that does not do SBA loans. After 6 days they said they would pull it and send it to another bank. Save yourself the hassle and just go to your bank or at least a bank who processes SBA loans. Waste of time! Terrible service! I wonder how many loan applications will never get to the SBA.

3 years ago

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Reply from Lendio

ALath, we apologize that your recent experience with Lendio was not what you expected, could you please call us at 855-853-6346 and give us a chance to make things right? Based off of your information provided here we aren't able to tell what your business name is or we would have personally reached out. Due to the recent economic struggles we have had a high number of applications come through and we are doing everything possible to help as many business owners as we can. Please reach out to us as we would love to help make things right.

Apr. 13th, 2020

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Joshua Williams San Antonio, TX

If I could give a negative number for this company I could. Horrible communication, its up in the air when I can get ahold of someone, it’s been over a month and still haven’t gotten my ppp loan done. I keep getting passed around and everyone keeps making mistakes and all they can do is tell me they are sorry.

3 years ago

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Reply from Lendio

Joshua, we apologize for your experience with Lendio and we want to help make things right. Unfortunately we have multiple different files with you name so we're not sure who to reach out to. The quickest way to contact us is via the chat feature on our website, www.lendio.com. You can also try calling at 855-853-6548.

Feb. 26th, 2021

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Jerry Andover, KS

Worst lender I have ever dealt with. Loan application sat on their desk for over a month. I finally contacted another lender and got things done start to finish in two weeks. Now I get 2 - 3 emails a day from Lenio asking me to complete the process. I have informed them a dozen times I am no longer interested yet they continue to harrass me.

3 years ago

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Reply from Lendio

Hi Jerry, we apologize for your experience with Lendio. We have had thousands of business owners apply and we're trying our best to get to everyone as quickly as possible. If you reach out to us at 855-853-6548 or via the chat feature on our website we can identify your account and get things sorted out.

Feb. 12th, 2021

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Teresa Simi Valley, CA

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.

4 years ago

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Reply from Lendio

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

Jul. 25th, 2019

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Jerry Rayville, LA

Garbage! Nothing about the company is good! I gave John my info, he found only 1 lender that supposely fit my needs! Gave that company my information to also be told they can't help, so what was the point of giving 2 company my info? DUMB

5 years ago

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Reply from Lendio

Jerry,
We apologize for the experience you had with Lendio. Rest assured, we do our best to partner you up with lenders that match the criteria you provide. We work with 75+ lenders and we would be happy to take a closer look at your account to see if we are able to determine more eligibility. Please contact us at 855-853-6548. We appreciate your time to reach out to us and we will do our best to address your concern.

Jul. 31st, 2018

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Jason Almond Hudson, FL

Because we started doing business with someone and they just dropped us and never returned calls or text or emails

6 years ago

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Daniel Lynch Naples, FL

They will not return calls after funding is set up. Customer service for after the "sale" is non-existent. Poor customer service and no communication is how this company operates.

4 years ago

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Reply from Lendio

Daniel, we are so very sorry about your recent experience. We noticed you have been in contact with one of our renewal funding specialists. May we contact you to discuss your situation and try to remedy the situation? Or feel free to contact us at 855-853-6548. Thank you.

Mar. 17th, 2020

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Tom Johnson Jackson, WI

Terrible service, very unprofessional responses, and constant unrelenting pursuit and solicitation if you decide to work with a different lender. Stay away unless you want poor service and a lifetime of solicitation!

4 years ago

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Reply from Lendio

Tom, we are unable to locate any information about your company. We do apologize for your experience and wish to address any concerns you may have. Please reach out to us at 855-853-6346 and ask for the Customer Experience Director, Jay Fraga.

Dec. 16th, 2019

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Alex John Aliso Viejo, CA

I was first approved with them, but after two days they declined my offer. I do not recommend to work with this company I had to file a complaint against them because they discriminated me based on my origin

2 years ago Edited July 7, 2022

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Whatever Lendio is horrible Charlotte, NC

Give clients the run around, horrible follow up, horrible follow through

6 years ago

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Reply from Lendio

We are sorry that your experience was less than amazing and would be happy to discuss further your experience. Would you please provide us your name so that we can research your account or contact us at (855) 853-6346 and request for the Customer Experience Manager. Thanks,

Mar. 27th, 2018

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Never again Austin, TX

would work with me when I got behind on payments

6 years ago

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Reply from Lendio

We apologize that your experience was less than exceptional and are concerned about the interaction you had with our company. We would be happy to review your account if you can provide us your name and information. Otherwise you can reach us at (855) 853-6346 and ask for the Customer Experience Manager. We take pride in ensuring that we do everything possible to provide options, speed and trust. If we are unable to assist a merchant, we partner with them to get on the path for funding. Thank you.

Mar. 27th, 2018

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Bryan San Francisco, CA

They tried to push a crazy high interest rate loan at me.

6 years ago

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Reply from Lendio

Bryan, we apologize that your experience with Lendio was less than exceptional. Our goal is to find a lender that provides the best rates available based on the timeline you provide. With that said, the criteria that you provided us to send to each lender determines your eligibility of the loan. Some of those variables include credit score, monthly revenue, and time in business. These factors contribute to determining the amount of funding and cost of each loan. Rest assured, that our Funding Managers are advocates for you. We would be happy to continue to help you find funding and provide you a path to better options.
Please contact us at 855-853-6346.

Mar. 14th, 2018

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Christopher Eckert Hoosick Falls, NY

They are horrible and the service just sucks.

6 years ago

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Reply from Lendio

Christopher, we apologize that your experience with Lendio was less than exceptional. We do our best to provide options with speed and trust. It saddens us to hear that the service we provided you did not meet your expectations and would like to speak with you further to determine if we can change your experience to a more appealing one. Rest assured, that our Funding Managers are advocates for you and that we will strive to help you with funding if you qualify, and if not, we will work with you to get you on the path to eligibility. Please contact us at 855-853-6346.

Mar. 16th, 2018

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CG Rocklin, CA

Awful experience. Slow, don't really know what they are doing. Don't waste your time, go right to an actual bank.

3 years ago

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Reply from Lendio

CG,

We apologize that your recent experience was not what you expected; however, we cannot determine what your business name is based on this review or we would have personally reached out. Could you please call us 855-853-6346 and give us a second shot to make this right?

As you can imagine, Lendio is experiencing extraordinary application volume during the Covid-19 pandemic since many banks are not taking small business PPP loan applications. Furthermore, our slow response in most cases is in large measure due to working with the overwhelmed SBA to get issued fundings. Please know that while many banks are saying no, Lendio is still providing funding to get mainstreet Small Business owners in America.

Apr. 9th, 2020