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Lendvo business loans review

Last updated:  

Be wary about applying — this lender doesn't provide any contact information beforehand.

  • Best for digital businesses looking to finance the purchase of a domain name.
  • Pick something else if you want a thoroughly vetted lender.

$1,000,000

Max. Amount

Details

Product NameLendvo business loans
Max. Amount$1,000,000
Loan Term1 to 24 months

Expert review

Rhys Subitch

Review by


Rhys Subitch is a writer and editor at Finder who tackles topics across the site. With half a decade of experience researching, editing and writing for a Fortune 500 company, university and several independent publications, Rhys brings readers the most up-to-date and curated info on all things finance.

Expert review

Let’s start out by going over what Lendvo claims it can provide. At different points on its website, Lendvo says its max financing amount is either $100,000 or $1 million — depending on which webpage you’re on. It’s terms are relatively short, ranging from 1 to 24 months. And it claims that applications might be approved within 24 hours.

What Lendvo doesn’t provide is any sign of its rates, fees, full turnaround times, full eligibility criteria or even contact information. No chat feature, phone number or physical address — and the only email address is buried in its privacy policy. From what we can gather, it offers merchant cash advances — and that’s an assumption based on the customer relationship management (CRM) system it uses for its clients.

While Lendvo’s website is secure and it does offer a privacy policy and terms of use statement, there are several red flags that make it suspicious at best. Before you try your luck with Lendvo, compare your other business lender options and find a more reputable provider.

First, do I qualify?

We were able to pull a few criteria from Lendovo’s terms of use — but it states that these terms may not be relevant to the funding type in your application.

  Under eligibility it outlines you must be:

  • At least 18 years old, 19 in Alabama and Nebraska
  • A US resident

What makes Lendvo unique?

Lendvo bills itself as a lender that specializes in working with digital-only businesses. It provides loans for the very specific use of domain name financing, as well as standard working capital for everyday expenses.

However, it should be noted that other business loans can be used to purchase domain names, and you don't need to seek out a loan specifically from Lendvo to get funds.

Pros and cons

Consider the benefits of applying with Lendvo to outweigh the drawbacks — especially considering how little information is available.

Pros

  • Loans potentially up to $1 million
  • Potentially get approved in 24 hours
  • Specializes in working with online businesses

Cons

  • Not transparent about fees or interest rates
  • No contact information available on its main pages
  • Only one customer review available and it's from 2017

See other business loan options

Take a look at vetted business lenders before you apply with Lendvo.

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Varies
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK
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Compare up to 4 providers

How do I apply?

Because Lendvo has multiple red flags, we strongly advise you to apply elsewhere. If you'd still like to try your luck, follow these steps:

  1. Go to Lendvo's website.
  2. Click Get started — apply for financing.
  3. Fill out your personal information including name, birthday, email and address. 
  4. Select your financing type, amount needed and its purpose. Click Next.
  5. Enter your business name and information including address, year established, monthly revenue and structure. Select Next.
  6. If you're sure you want to share the entered information, read and agree to the privacy policy then click Submit.

What documents do I need to apply?

You won't find a list of documents needed to apply. But lenders typically ask for at least the following:

  • Business bank account statements for the past two months
  • Business tax documents for the past two years
  • Government-issued IDs for all owners with 20% or more stake

How do repayments work? 

Lendvo states on its website that repayments are flexible based on the business. If its loans are merchant cash advances as its CRM system suggests, you may be required to make weekly or even daily repayments.

Before you hand over your personal and business information to Lendvo, read our guide to business loans and check out more transparent lenders. 

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