Lendio Reviews and Ratings

Lendio company logo

TL;DR: Summary

• Lendio is a business lending marketplace, not a direct lender, offering access to several options through a single application.
• Customers mention a professional team and quick funding, with some receiving money the very moment after approval.
• Common complaints include delays, lack of follow-up, and emailing customers without clear updates.
• Lendio collects documents like bank statements and may request commercial use contact details.
• Users should review each offer carefully and ask additional questions before proceeding, to avoid wasting everyone’s time or accepting terms they didn’t expect.

Business formation in the U.S. is still on the rise. New business formations in August 2025 were projected at 28,725, an increase of 0.8 percent from July projections. Business applications also increased 0.5 percent (473,679) based on U.S. Census Bureau data.

It can be a frustrating process for business owners who are seeking capital, as there is too much paperwork and far too many phone calls.

That’s the reason so many business owners look for services like Lendio. But does it ultimately save time and offer actual choices?

Stellar Reputation

4.8

Lendtly.com

• Direct Lending Excellence: Matches you with the best loans.
• Loans ranging from $2,500 to $100,000
• Flexible terms: 3 to 120 months, 24 hours post-approval
• Same day approval

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What is Lendio?

Lendio’s homepage

Lendio is a loan marketplace that connects small business owners with lenders offering different financing options.

Company overview

• Founded in 2011.
• Network includes 75+ lenders, including Bluevine, OnDeck, Credibly, and Headway Capital.
• Facilitated over $16 billion in small business loans and other financing options.
• When clients accept a loan offer through their platform, the lender pays Lendio a referral fee or commission.

Key services or programs

• Accounts Receivable Financing

• • • Offers access to cash based on purchase orders or unpaid invoices.
    • Loan amount: Tied to receivables
    • Speed: As soon as 24 hours
    • Interest rate: From three percent

• Business Line of Credit

• • • Revolving credit clients can draw from and repay as needed.
    • Loan amount: $1,000 to $500,000
    • Speed: One to two days
    • Interest rate: Eight to 60 percent

• Small Business Administration (SBA) Loan

• • • Includes SBA 7(a), 504, and Express programs. Used for expansion, equipment, or working capital.
    • Loan amount: Up to $5 million
    • Speed: One to three months
    • Interest rate: Based on Prime

• Short Term Loan

• • • Used for urgent expenses or short-term projects.
    • Loan amount: $2,500 to $500,000
    • Speed: As soon as 24 hours
    • Interest rate: From eight percent

• Business Term Loan

• • • Fixed repayment over a set period with consistent terms.
    • Loan amount: $5,000 to $2 million
    • Speed: As soon as 24 hours
    • Interest rate: From six percent

• Revenue-Based Financing

• • • Based on projected future revenue, repaid as a fixed daily percentage.
    • Loan amount: $5,000 to $1 million
    • Speed: As soon as 24 hours
    • Interest rate: From 18 percent

• Equipment Financing

• • • Helps businesses purchase equipment with structured repayment plans.
    • Loan Amount: $5,000 to $5 million
    • Speed: As soon as 24 hours
    • Interest Rate: From 7.5 percent

• Commercial Mortgage

• • • Used for buying, building, refinancing, or remodeling commercial property.
    • Loan amount: $5,000 to $5 million+
    • Speed: One to three months
    • Interest rate: From 4.5 percent

• Startup Loan

• • • Designed for newer businesses needing working capital without giving up equity.
    • Loan amount: Up to $150,000
    • Speed: Two to four weeks
    • Interest rate: Up to 31 percent

• Business Acquisition Loan

• • • Used to buy an existing business or franchise.
    • Loan amount: $5,000 to $5 million
    • Speed: Around 30 days
    • Interest rate: From 5.5 percent

• Business Credit Card

• • Useful for covering smaller purchases, building business credit, and managing cash flow.
  • Loan amount: Up to $150,000
  • Speed: Two to four weeks
  • Interest rate: Up to 31 percent

Flexible Lending Solutions

5

Lendexpress.net

• Your Best Lending Partner: We match you with top lenders for the best deals.

• Fast, Easy Process: Quick approvals with expert support.

• Tailored Solutions: Flexible terms that fit your needs.

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Pricing and fees

• APR: Depends on the lender and loan type
• Origination/application fees: May vary by lender
• Prepayment penalties: A fee some lenders charge for paying early
• Late fees: Applies to missed or late payments
• NSF fees: Applies when users do not have enough funds for a withdrawal
• Payment processing costs: Some lenders charge a fee for each transaction

Eligibility and requirements

• • Credit score: Minimum of 580
  • Annual revenue: At least $50,000
  • Time in business: At least six months
  • Bank account: Must have a verified business bank account
  • Location: Must operate in the U.S. (not available in Canada)

• Depending on the loan type, some lenders may also require:

• • A personal guarantee
  • A down payment
  • Collateral for certain financing options

How to apply

• Fill out the online loan application on the Lendio website (takes about 15 minutes).
• A soft credit report check is run during the initial step.
• Submit basic business info, including revenue and bank statements.
• A loan specialist will contact you to go over available loan offers.
• Choose an offer that fits your business needs and proceed with a full application.
• A hard credit check may be required by the lender at this stage.
• Review the loan terms, including fees, APR, and repayment schedule before signing.

Lendio pros and cons

Here’s what works about Lendio, and what might give some small business owners second thoughts.

Pros

• Works with more than 75 lenders
• Provides 11 financing options through one loan application
• Accepts applicants with lower credit scores

Cons

• Some loan programs come with higher rates
• Applicants may receive frequent calls or emails after requesting loan offers

Rated #1 for Personalized Loans

5

USABrightline.com

• Your Best Lending Partner: Rated #1 for customer satisfaction and personalized service.
• Fast, Easy Approvals: Get funded in as little as 24 hours with zero hidden fees.
• Tailored Loan Solutions: Flexible terms designed around your financial goals.

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Lendio ratings, reviews & complaints

Here’s what customers are saying about their experience with Lendio, based on public reviews and complaints.

Better Business Bureau (BBB) reviews

Lendio is BBB-accredited with an A+ rating

Lendio has an A+ rating with the BBB, but customer reviews average 1.8 out of 5. Some had no issues browsing offers, but others reported aggressive calls, unexpected credit checks, or getting denied after submitting documents.

Lendio says it’s a marketplace, not a direct lender, and that final terms come from its partners. Of 21 BBB complaints in the past three years, only two were marked resolved by lenders. Of 21 BBB complaints in the last three years, only two were marked as resolved.

Trustpilot reviews

Lendio Trustpilot profile

Lendio has a 4.6 rating on Trustpilot from over 21,000 reviews. Many say the process is quick, the staff is helpful, and funding comes fast.

Some, though, felt the final loan terms didn’t match early estimates. Since Lendio connects applicants to different lenders, results can vary.

Reddit reviews

Reddit users say Lendio can work, but comes with downsides. Many report nonstop calls, high-rate offers, and little real support.

PPP complaints stand out the most, with users sharing stories of missed funding, poor communication, and unanswered emails. Some did get funded, but most describe the experience as messy and unreliable.

Google reviews

Lendio’s Google Reviews

Lendio has a 4.8 rating from 1,973 Google reviews. Many mention fast funding, helpful reps, and a clear loan application process. Some say they received money within a day.

But others, especially during the paycheck protection program, report delays, missing updates, or never getting funded. A few say they were approved but couldn’t get answers when problems came up.

Outcomes and success rates

Lendio doesn’t disclose publicly figures on how many approvals and dollars in funding it has facilitated. According to reviews, a few users received fast funding and useful loan offers, while others stated that they had uploaded documents but didn’t receive any follow-up.

As Lendio matches applicants with other lenders, results will also vary based on credit, the purpose of the loan, and various other factors.

Who is Lendio for?

Here’s who Lendio tends to work and who it probably doesn’t.

Best for

• Small business owners who want to compare offers without applying to each lender
• Those with fair credit who still meet basic requirements
• Businesses looking for fast funding and flexible loan options

Not recommended for

• Anyone who wants hands-on support from start to finish
• Those who want to avoid sales calls or spam emails
• Applicants expecting consistent updates or clear communication

Lendio alternatives to consider

These lenders may offer similar or better options:

Fundbox

• Offers up to $250,000
• Requires at least $30,000 in annual revenue
• Business checking account required
• Must be in business for at least three months
• Known for flexible repayment terms

Credibly

• Offers up to $600,000 in business funding
• Requires six months in business and $15,000+ in monthly revenue
• Accepts credit scores starting at 500
• Must deposit revenue into a business bank account
• Available to businesses operating in the U.S.

Funding Circle

• Loans up to approximately $6 million, depending on the loan type
• Terms available up to seven years
• Fixed rates, plus fees (completion and transaction)

Wells Fargo

• Offers up to $15 million depending on product
• SBA small business loan options available
• Offers both secured and unsecured lines of credit

Final verdict

Lendio provides small businesses with a way to compare loan options using just one application. It can be particularly useful for comparing offers quickly, especially for owners who don’t want to call several lenders on their own.

That said, the quality of the experience will vary greatly based on which lenders respond.

It’s worth a look, but business owners should look at everything closely and be willing to walk away if something doesn’t seem right.

Frequently asked questions

Is Lendio legit?

Yes. Lendio is a business lending platform that connects applicants with multiple lenders. Reviews suggest the entire process can feel professional and efficient for some, though results may vary based on many factors.

Is Lendio an approved SBA lender?

Lendio is not a direct SBA lender, but it partners with approved lenders to offer SBA loans through Lendio’s portal. Borrowers receive updates by email provided and may need to follow up if the business’s response is delayed.

Will using Lendio hurt my credit score?

Applying through Lendio initially uses a soft credit check, which does not affect your credit score. However, if you accept a loan offer and proceed with a lender, they may perform a hard credit inquiry that could slightly lower your score temporarily. This impact is usually small (less than five points) and short-lived. So, using Lendio to explore loan options is credit-safe, but moving forward with a specific loan may involve a minor credit score dip.