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LendingTree is a loan connection service that partners with a wide variety of business lenders to get you financing to fit almost any need. Read further to learn about the options LendingTree has to offer and how to work with them.
Loan Term | Varies by lender and type of financing |
---|---|
Min. Credit Score | 670 |
APR | Varies |
Requirements | Varies by lender, but many require good personal credit, minimum annual revenue and minimum time in business |
LendingTree is a connection service, which means it doesn’t actually lend you money. Instead, it provides you with a selection of small business loans you’re likely to qualify for.
With LendingTree, you enter your personal information along with details about your small business. LendingTree gives this information as a referral to lenders, who then contact you with loan offers. Basically, LendingTree connects you with lenders that compete to lend you money.
LendingTree connects you with lenders who offer different types of business loans. The specifics of your loan will vary based on your agreement with the specific lender, but you can use your funds to finance just about any business expense. Eight main types of financing LendingTree partner lenders offer include:
LendingTree makes money by selling your information as “leads” to potential lenders, among other factors to keep in mind.
Customers give mostly positive reviews of LendingTree online. It gets an A- from the Better Business Bureau (BBB), mostly because it failed to respond to one customer complaint — it has about 430 filed with the BBB. Half of its nearly 200 customer reviews are positive, 42% negative with the remaining falling somewhere in between.
LendingTree does significantly better on Trustpilot, scoring a 9.3 out of 10 based on over 5,500 reviews. Over 80% of reviewers said it was excellent, often using words like “quick” and “easy” to describe their experiences. The few negative reviews were mostly complaints about the number of phone calls customers received from lenders — standard for connection services — or technical problems with using their online accounts.
Finding a loan that’s right for your business can be difficult, especially if you’ve faced financial hardship in the past. LendingTree connects you with lenders, but there’s no guarantee that you’ll find a deal that’s the best fit for your business.
To qualify for a business loan through LendingTree, you must:
To choose a small business loan through LendingTree, you’ll need to provide information about your business such as:
1. Once you’re ready to go, click the “Go to site” button on this page to go to LendingTree’s website.
2. Next, choose your business type and click Get Personalized Rates.
3. You’ll then be asked for the amount you’d like to borrow and your personal information. LendingTree will connect you with lenders based on these details.
LendingTree can be a good fit if you’re unsure of lenders or loan types your business would qualify for. Before you signing a loan contract, you may want to compare business loan options from direct lenders to determine which one is the right fit for your needs.