Lendvo business loans review
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.
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.
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.
First, do I qualify?
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.
- Loans potentially up to $1 million
- Potentially get approved in 24 hours
- Specializes in working with online businesses
- 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.
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:
- Go to Lendvo's website.
- Click Get started — apply for financing.
- Fill out your personal information including name, birthday, email and address.
- Select your financing type, amount needed and its purpose. Click Next.
- Enter your business name and information including address, year established, monthly revenue and structure. Select Next.
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.