Lendio Review: Legit Business Loan Marketplace (2025)

Is Lendio legit?

Founded in 2011, Lendio is a legitimate business loans marketplace that has facilitated over $15 billion in financing for small businesses. Lenders in its network include Bluevine, OnDeck, Credibly and Headway Capital, to name just a few. It’s accredited by the Better Business Bureau (BBB) with an A+ rating and has mostly positive reviews on Trustpilot.

Lendio uses standard encryption methods and proprietary security measures to safeguard against data breaches. However, it shares some of your information with its partners and other third parties, which is disclosed in its detailed privacy policy.

What makes Lendio shine?

Lendio stands out for being one of the largest business loan marketplaces, with more than 75 lending partners. It also offers 11 types of business financing, so there is likely an option for almost any business. Plus, it accepts credit scores as low as 580, meaning even borrowers with poor credit should be able to find a funding solution.

Where Lendio falls short

Based on customer reviews, Lendio may want to step up its communication practices a bit. It has a large volume of complaints from reviewers saying they had trouble getting their questions answered even after repeatedly calling and emailing.

It may also not be the best solution for all businesses. Some loan options can come with very high rates, although you can’t find out how high until you’ve formally applied. If you’re a business with strong credit and revenues, you may want to consider business loans from direct lenders, such as banks, credit unions or online lenders, to save money on interest.

Lendio business loan details

Lendio contact info

How to qualify for Lendio

While exact requirements vary by lender and loan type, these are the basic minimum criteria to qualify for business financing on Lendio.

• A credit score of at least 580
• Annual revenue of $50,000 or more
• At least six months in business
• A business bank account
• Must operate in US, not Canada

Depending on the type of loan, you may also need to sign a personal guarantee, provide a down payment or offer collateral.

How to apply

Here’s how to apply for business loans with Lendio:

1. Fill out an online application. This process should take about 15 minutes and only requires a soft credit check.
2. Review your offers. A loan specialist should contact you to review your options.
3. Apply. Once you choose an offer, you can formally apply, which typically involves a hard credit check.
4. Review and sign. Before you sign, check your loan agreement for APRs, fees and repayment terms.

How Lendio compares to other lenders

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Product	Finder Score	Min. Amount	Max. Amount	APR	Requirements
Promoted Finder score 8.6 Great Fundera business loans	Finder score 8.6 Great	$2,500	$5,000,000	Varies by lender	$60,000+ of annual revenue, 550+ personal credit score, in business for 6+ months	Get connected with short-term funding, SBA loans, lines of credit and more.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 9.5 Excellent Lendzi	Finder score 9.5 Excellent	$5,000	$20,000,000	Varies by lender	Minimum credit score of 580, minimum annual revenue of $120,000, preferably one to two years in business	Compare lending options and get funded fast.	Go to siteMore info Compare product selection Compare	loading
Promoted Finder score 9.6 Excellent Lendio business loans	Finder score 9.6 Excellent	$1,000	$5,000,000	Varies by lender	Operate business in US for 6 months or more, have a business bank account, minimum 580 personal credit score, at least $8,000 in monthly revenue.	Submit one simple application to potentially get offers from a network of over 75 legit business lenders.	Go to siteMore info Compare product selection Compare	loading
Finder score Not scored yet Pinnacle Funding	Finder score Not scored yet	$5,000	$3,000,000	Varies by loan type	6+ months in business, 525+ credit score, $180,000 in annual revenue	Apply in minutes with funding as fast as 24 hours and zero impact to your credit score.	Go to siteMore info Compare product selection Compare	loading
Finder score 8.9 Great Best Money	Finder score 8.9 Great	$5,000	$5,000,000	Varies by lender	Depends on the lender	Apply in minutes. Get funded fast.	Go to siteMore info Compare product selection Compare	loading
Finder score 9.1 Excellent Clear	Finder score 9.1 Excellent	Varies by lender	Varies by lender	Varies by lender	6+ months in business and at least $250,000 annual revenue. Additional minimum qualifications vary by loan product and lender.	Access 100+ lenders through Clear’s marketplace to compare loan options, get expert help and find the best terms with zero broker fees.	Go to siteMore info Compare product selection Compare	loading
Finder score 9.6 Excellent Advance Funds Network	Finder score 9.6 Excellent	$25,000	$2,500,000	Varies by lender	6 months in business, at least $10,000 in monthly revenue	A range of funding options for your business	Go to siteMore info Compare product selection Compare	loading
Finder score 8.7 Great BHG business loans	Finder score 8.7 Great	$20,000	$500,000	Starting at 8.69%	660+ credit score, no bankruptcies in the past year	Flexible financing for licensed professionals.	ContinueMore info Compare product selection Compare	loading

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How we picked these

What is the Finder Score?

The Finder Score crunches 12+ types of business loans across 35+ lenders. It takes into account the product's interest rate, fees and features, as well as the type of loan eg investor, variable, fixed rate - this gives you a simple score out of 10.

To provide a Score, we compare like-for-like loans. So if you're comparing the best business loans for startups loans, you can see how each business loan stacks up against other business loans with the same borrower type, rate type and repayment type.

Read the full Finder Score breakdown

Lendio reviews and complaints

Lendio receives high marks on the Trustpilot website, with the majority giving it excellent reviews. Multiple customers praise Lendio’s customer service team, mentioning helpful, patient and attentive service — although a few said the process took longer than expected, and some loan offers came with very high rates.

However, customers on its BBB page report that they struggled to contact Lendio and had issues learning more about their loan options after filling out Lendio’s online form. Others were unhappy about having their loan applications fall through after getting an offer, and several complained about their information being shared with third parties.

It appears that Lendio takes the time to respond to all customer complaints on the BBB site, with a 100% response rate and an A+ business rating for how it’s handled its customer complaints over the past three years.

Frequently asked questions

Is Lendio SBA approved?

Lendio isn’t a direct lender. However, it can connect you with lenders that are SBA preferred lending partners, which can help reduce processing times on SBA loans.

Does Lendio do a hard inquiry?

No. When you apply online with Lendio, it only conducts a soft credit check to see if you prequalify. If you decide to move forward with an offer, most lenders require a hard credit check to qualify.

What is the Lendio interest rate?

There is no one range of interest rates because Lendio offers a variety of loan types from many different lenders, but you can find more information on its website. For example, it says rates for business lines of credit are between 8% and 60%, and startup loans may go as high as 31%.

Is it easy to get approved with Lendio?

It may be easier to qualify for certain short-term loans and financing through Lendio than with a bank. For example, you may only need a minimum credit score of 580 to get a business cash advance.

How long does it take for a loan to process?

Processing times vary by the lender and the type of loan. Lendio estimates that some types of financing, like term loans, equipment financing, cash advances and accounts receivable financing could be funded in as fast as a day or two. But others, such as commercial real estate, SBA and business acquisition loans, could take weeks or even months to process.