LendingTree business loans review February 2018 | finder.com

LendingTree business loans review

Compare multiple business financing offers through one form to find the best one for your needs.

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.

Product NameLendingTree Business Loans
Min Loan AmountVaries by lender and type of financing
Max. Loan AmountVaries by lender and type of financing
Min APR From
RequirementsVaries by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.

What makes LendingTree business loans unique?

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.

What are Lendingtree business loans?

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:

What are the benefits of LendingTree business loans?

  • No upfront fees. Let LendingTree fit your needs with lenders in its network for free.
  • A lot of options. LendingTree network could open up options you may not otherwise have considered.
  • Less focus on personal credit. Many business lenders focus on your business’ financial performance and outlook rather than your personal credit score.
  • One application. Complete one single online form to access multiple loan offers.

What to watch out for

LendingTree makes money by selling your information as “leads” to potential lenders, among other factors to keep in mind.

  • Potentially slow turnaround. Funding can take up to 75 days for SBA loans.
  • Many choices. This benefit can become a drawback, because not all options are good ones, especially if your business financial performance is lacking. You can compare business lenders outside of LendingTree to see a full picture of what you might be eligible for.
  • Residual offers. Even after you’ve chosen a lender, you may continue to get calls and email from other lenders vying for your business.

What do customers say about LendingTree?

Customers give mostly positive reviews of LendingTree online. It gets an F from the Better Business Bureau (BBB), however, a rating the BBB doesn’t give out freely. The BBB doesn’t give any explanation for this online — there were no government actions filed against the business, customer complaints or any other indication of how it came up with an F. The site has only two reviews, both of which were negative.

LendingTree does significantly better on Trustpilot, scoring a 9.3 out of 10 based on nearly 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.

Compare other business financing options

Rates last updated February 22nd, 2018
Name Product Product Description Min Loan Amount Maximum Loan Amount Requirements
LendingTree Business Loans
Compare multiple business financing options in one place including: small business loans, lines of credit, SBA loans, equipment financing and more.
Varies by lender and type of financing
Varies by lender and type of financing
Varies by lender, but you many require good personal credit, a minimum business age and minimum annual revenue.
OnDeck Small Business Loans
A leading online business lender offering flexible financing at competitive fixed rates.
Must have been in business for at least one year with annual revenue of $100K+. Must have a personal credit score of 500+.
LendingClub Business Loans
With loan terms that vary from 1 to 5 years, enjoy fixed monthly payments and no prepayment penalties through this award-winning lender.
2+ years in business; $75,000+ in yearly sales; No bankruptcies or tax liens; At least 20% ownership of your business; Fair or better personal credit
LoanBuilder, A PayPal Service Business Loans
Annual business revenue of at least $100,000, at least 1 year in business, personal credit score of 600+.
National Business Capital Business Loans
Get a large business loan to cover your financing needs, no matter what the purpose is.
Your company must have been in business for at least 6 months and have an annual revenue of at least $180,000.
Kabbage Small Business Line of Credit
A simple, convenient online application could securely get the funds you need to grow your business.
Must have been in business for at least 1 year. Revenue minimum is $50,000 annually or $4,200 per month over the last 3 months.
SmartBiz SBA Loans
Get funding for your small business with a government-backed loan and extended repayment terms.
Personal credit score of 650+; US citizen or permanent resident; Business must be 2+ years old; Annual revenue of $50,000+; No outstanding tax liens; No bankruptcies or foreclosures in past 3 years.
Excel Capital Management Small Business Loans
Get personalized financing options that suit your unique business needs in just a few simple steps.
Varies by loan type
Varies by loan type
Your business must operate in the US, be at least 1 year old and have monthly revenue of $15,000+.

Compare up to 4 providers

Am I eligible?

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:

  • Be a US citizen or a permanent resident.
  • Be in business before pursuing a loan, though the period of time required varies by loan type and lender.
  • Provide your business’s financial history.
  • Provide collateral for certain secured business loans.

What information do I need to give?

To choose a small business loan through LendingTree, you’ll need to provide information about your business such as:

  • The year you started your business
  • Your annual revenue and profits
  • Information on existing debts
  • Your business license
  • Past bank statements
  • Recent balance sheet
  • Legal filings related to your ownership
  • Recent profit and loss statement
  • Personal and business tax returns

How to get started

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.

LendingTree Business Loans step 2

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.

I got a business loan through LendingTree. Now what?

  • Understand the business loan terms. Since there are so many different types of business financing, you’ll want to make sure you fully understand the terms of the financing option you selected, including all the costs and how/when you’re expected to make payments.
  • Set up autopay. Most business lenders will allow (and probably encourage) you to make automatic payments.

Bottom line

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.

Frequently asked questions

Was this content helpful to you? No  Yes

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, read the PDS or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms and Conditions and our Privacy Policy.
Go to site