Fundera vs Lendio

Jenna Vasquez
Jenna Vasquez | Contributor

While not direct lenders themselves, highly reviewed Fundera and Lendio are online marketplaces dedicated to curating the best loan options for borrowers. 

So how exactly does it work? 

The process is similar for both Fundera and Lendio. Both companies match borrowers with a number of financing options based on factors like time in business, monthly revenue, personal FICO score, and cash needs. Then, they review each loan offer with you to ensure that you have all the information necessary to make the best decision for your business.

From there, you work directly with the lender you've chosen to fulfill the terms of the loan. 

Fundera logo verified_user
#16 Fundera
6.8 Overall Score
4.6
star star star star star_half
(45)
Lendio logo verified_user
#5 Lendio
8.1 Overall Score
4.6
star star star star star_half
(506)

Overview

Fundera

Maximum Loan Amount

$5 Million

Quickest Time to Funding

1 Day

Loan Types

N/A

Minimum Credit Score

N/A

Time in Business

8 Years

Lendio

$5 Million

1 Day

N/A

N/A

11 Years

Ratings

Fundera

Overall Score
6.8 of 10
Review Score
4.6
star star star star star_half
Value for Money
4.4
star star star star star_half
Quality of Product or Service
4.5
star star star star star_half
Company Trustworthiness
4.6
star star star star star_half
Likely to Recommend
9.2 of 10

Lendio

8.1 of 10
4.6
star star star star star_half
4.4
star star star star star_half
4.7
star star star star star_half
4.6
star star star star star_half
8.8 of 10

Reviews

Fundera

Number of Reviews
45
Review Breakdown
4.6
star star star star star_half
1 star
9%
2 star
0%
3 star
2%
4 star
0%
5 star
89%

Lendio

506
4.6
star star star star star_half
1 star
5%
2 star
1%
3 star
2%
4 star
11%
5 star
81%

Reviews for Fundera

Helpful Favorable Review

star star star star star

Cari

June 28th, 2022

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Review Source

Couldn’t have been a better experience. I needed to secure funding quickly for working capital. I was contacted by Austin the day after submitting my online request. The application process was quick and easy and I received more money than I initially wanted with a very reasonable payment term in under a week. Quick money is expensive, but I got a fixed rate at a time when the Fed could raise rates again at any time. Thank you Austin and Fundera! I will recommend your services to anyone I know who needs funding for their business.

Helpful Critical Review

star star_border star_border star_border star_border

Sharel Felger

July 12th, 2021

I keep getting emails from this company telling me I have been funded- but I never applied for a loan with Fundera. No one will respond to my emails and there is no way to contact by phone. they say there is a chat on their website but I am unable to find it. I am concerned there has been fraudulent activity ! How do I get a response from Fundera?!!

Reviews for Lendio

Helpful Favorable Review

star star star star star

Dung giap

March 26th, 2021

First of all I said thanks to our agent that helping me when I need very highly appreciate itIn a time like this when I have a difficult time and struggling an agent from lending help ing me that’s what I like about the Lendio a lot you got to take care of business everything paperwork moving so fast so quick that I never thought of. Once again thank you to all lendio agents. And he asked me what I dislike about lendio. Well in my dictionary I don’t have that work dislike. The only word that I can find in there is appreciation thank you once agains !!!

Helpful Critical Review

star star_border star_border star_border star_border

Alex John

March 22nd, 2022

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Review Source

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

The Final Word

Both Fundera and Lendio are excellent options for all types of loan products, loan amounts, and loan purposes. Most importantly, customer reviews are largely positive for both of these companies. 

The differences between the two companies are minor, but may play into your decision, so we'll review where the companies stand in regards to some additional aspects. 

Partner Network Size

Both companies are committed to helping each business owner identify financing options through a lender or multiple lenders that work for their situation.

Fundera works with 20 online lenders in its partner network to facilitate a variety of business loans for borrowers. Lendio offers loan options from more than 75 alternative lenders. 

Keep in mind that neither company can make promises about rates or fees because they are not setting the terms for the loan offers. 

Loan Types

Fundera's available loan options include the following: 

  • SBA loan
  • Business line of credit
  • Term loan 
  • Startup loan 
  • Equipment financing 
  • Invoice financing 

Lendio has an edge over Fundera in regards to loan types as it offers all of the above loan products plus the following: 

  • Merchant Cash Advances 
  • Business credit cards
  • Commercial mortgages 
  • Business acquisition loans

Eligibility Requirements 

Fundera applicants need a minimum personal FICO score of 550. Lendio doesn't specify a minimum credit score, but states that prospective borrowers with less-than-perfect credit can qualify for a business loan.  

Whether you work with Lendio or Fundera, your loan term, interest rate, and financing options depend on your personal and business financials as a small business owner, including FICO score. 

Top Choice

Lendio Logo
Lendio

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