LendingTree
Is This Your Business?4.5
6.7
Overall Score
Author: Kaitlyn Short
LendingTree is an online loan marketplace that was founded in 1996 by Doug Lebda. The company seeks to empower consumers by providing a list of lenders that customers qualify for and can easily compare offered rates and terms from. The range of lender services extends to business, mortgages, auto loans, personal loans, and more. Since its founding, LendingTree has helped over 40 million people find the right lender and loan for them.
Top Ranked Companies
The Good
- Multiple Loan Offers
- Educational Resources
- Business Transparency
Multiple Loan Offers
LendingTree presents borrowers with multiple business loan types simultaneously (from multiple lenders, as LendingTree does not provide loans themselves). Customers can then compare rates and choose the lending company that best meets their loan request needs. LendingTree provides these loan terms and options online and services all 50 states.
LendingTree provides a variety of types of business loan lenders. The company offers quotes for SBA, short-term loans, long-term loans, business lines of credit, business credit cards, equipment financing, and accounts receivable financing. Customers can choose the loan type and lender that best meets their needs.
Educational Resources
LendingTree provides borrowers with extensive information about business loan types. The company defines each loan and explains qualifying factors. In addition, its website includes articles discussing business loans and provides a glossary of important loan terms.
Business Transparency
LendingTree is transparent about its platform and how the company makes its money. Its website is easy to use and provides helpful information regarding multiple lenders and loan types.
The Bad
- Varying Fees
- Lack of Rate Information
Varying Fees
LendingTree provides customers with multiple loan offers from a variety of different lenders. Each lender charges a different origination fee as well as varying upfront fees and closing costs. These fees are not standard across companies so customers will need to verify fees and rates before purchasing a business loan.
Lack of Rate Information
LendingTree does not display transparent rate information for business loans. Customers who are interested in business loans will have to fill out a LendingTree form to receive specific quotes. However, LendingTree does have a business loan calculator that lets you input information (such as time in business, annual revenue, credit score, etc.) to receive a borrow range.
The Bottom Line
LendingTree is an online loan marketplace that provides customers with multiple lenders and offers at once. Its website includes information and resources for customers interested in business loans to help with the purchasing process. However, it's important to note that LendingTree fees will vary based on lenders and because of this, LendingTree does not list its specific rates and terms. You will need to fill out a LendingTree form to find out more information regarding your personalized offers. See LendingTree reviews below to see what customers have to say about the company.
