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Lendio suits business owners with at least 6 months in business, $8,000 a month in revenue and a 600 credit score who want to compare term loans, lines of credit, SBA loans and other financing from one application. It is a legitimate marketplace run by Lendio, Inc. of Lehi, Utah, with an A+ BBB rating and accreditation since 2021. The tradeoff is cost control: Lendio does not lend or set rates, its network includes high-cost products like revenue-based financing, and your application is shared with lenders, brokers and funders. Get every offer's APR and total repayment in writing before you accept.
- What it is
- A financing marketplace; Lendio says it is not a lender and does not make credit decisions1
- Minimums
- 600+ credit score, 6+ months in business and $8,000+ monthly revenue1
- Network
- 75+ lenders on its loan pages; 100+ lenders and funders on its home page2
- Amounts
- Vary by product, from $1,000 lines of credit up to $5 million for SBA 7(a) and some term loans1
- Cost to apply
- Free; applying doesn't affect your credit, but accepting an offer may trigger a hard inquiry3
- Track record
- Lendio says it has matched 520,000+ businesses with financing over 15+ years2
- BBB
- A+, accredited since August 18, 2021; 21 complaints in the last 3 years6
- Regulator history
- FTC and SBA warning letter in May 2020 about PPP marketing by Lendio and its lead generators7
Pros
- Free to apply, with no effect on your credit to compare
- Low minimums: 600 credit score, 6 months, $8,000 a month
- Many financing types, including SBA 7(a) loans
- Funding managers explain options
- Strong Trustpilot and BBB ratings
Cons
- Not a lender, so rates and terms vary widely and aren't published
- Application data is shared with lenders, brokers and funders, who may keep it
- Network includes high-cost products such as revenue-based financing
- Binding arbitration and class action waiver in its terms (opt-out allowed)
- 2020 FTC and SBA warning letter over PPP marketing
Best for: Small business owners who meet basic minimums and want to compare several loan types and lenders through one application.
Skip it if: You already qualify for a bank or SBA loan, or you don't want your application shared with many lenders and brokers.
Lendio vs. competitors
| Company | Type | Amounts | Minimum requirements | Published cost | Next step |
|---|---|---|---|---|---|
| Lendio | Marketplace (not a lender) | $1,000 to $5 million by product | 600 credit, 6 months, $8,000 monthly revenue | Not published; set by each lender | |
| Biz2Credit | Lender and marketplace | $25,000 to $2 million+ | 575 to 650 credit, 12+ months, $100,000 to $250,000 revenue | Not published | Read review |
| OnDeck | Direct lender | Term loans $5,000 to $400,000; lines $6,000 to $200,000 | 1 year, $100,000 revenue, 625 FICO | Recent average APRs 53.2% and 59.8% | Read review |
| Bluevine | Direct line of credit | Up to $250,000 | 625 FICO, 12 months, $10,000 monthly revenue | As low as 7.8% for top customers | Read review |
Small business financing companies we reviewed
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Lendio This review BestGuide rating: 4.1 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Small business owners who meet basic minimums and want to compare several loan types and lenders through one application. -
Bluevine BestGuide rating: 4.2 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: LLCs and corporations with a year of history and steady monthly revenue that want a revolving line of credit up to $250,000 alongside a no-fee business checking account. -
Fundbox BestGuide rating: 4.2 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Small businesses that want a revolving line of credit with a fast online decision and plan to repay each draw quickly. -
National Funding BestGuide rating: 4.1 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Established businesses with steady revenue that need working capital or equipment quickly and have compared the total payback with other offers. -
Biz2Credit BestGuide rating: 4.0 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Established businesses with at least a year of history and six-figure revenue that need $25,000 to $2 million or more and can compare a written offer against other lenders. -
OnDeck BestGuide rating: 3.9 out of 5. Set by our editorial team from published factors such as cost, credentials, reputation, customer experience, services and guarantees. Verified partners are scored on our partner verification program and can be listed first; they are always labeled BestGuide Partner. Best for: Established small businesses with steady revenue that need short-term cash within a day or two and can afford frequent payments.
Lendio pricing at a glance
Lendio financing types and minimums, as listed October 20261
| Item | Lendio |
|---|---|
| Fee to apply or compare | Free |
| Credit check to apply | None that affects your score; a hard inquiry may follow when you accept an offer |
| Minimum credit score | 600 |
| Minimum time in business | 6 months |
| Minimum revenue | $8,000 a month |
| Financing types | Lines of credit, term loans, SBA 7(a), equipment financing, revenue-based financing, invoice factoring, receivables financing, business credit cards, microloans, commercial mortgages |
| Amounts | From $1,000 to $5 million, depending on product |
| Rates and fees | Not published; set by each lender |
Lendio does not publish rate ranges. Ask each lender for the APR, total repayment, payment frequency and any origination or prepayment fees in writing.
Lendio, step by step
Apply once
Share your business details, revenue, time in business and credit score in one online application. Applying is free and won't affect your credit.
Talk with a funding manager
A Lendio funding expert asks about your needs and explains which loan types fit.
Compare offers
Lendio presents your application to lenders in its network and shows the offers that come back.
Accept and finish underwriting
You complete paperwork with the chosen lender, which may run a hard credit inquiry. Funding can come as soon as 24 hours for some products and takes longer for SBA loans.
Lendio legitimacy and licensing
Yes. Lendio, Inc. is a Delaware corporation based at 4100 Chapel Ridge Road in Lehi, Utah. The BBB has accredited it since August 18, 2021, rates it A+ and lists 21 complaints in the last three years. Lendio says it has matched more than 520,000 businesses with financing.
Lendio is not a bank or lender. It says it does not make loans or credit decisions; it passes your application to lenders and funders in its network. In May 2020, FTC and SBA staff sent Lendio a warning letter saying it and lead generators marketing PPP loans, including on the website sba.com, may have misled small businesses about an SBA connection and fees. We found no FTC lawsuit or settlement against Lendio.
What Lendio costs
Lendio is free to use, and applying doesn’t affect your credit. What you pay depends on the product and lender: Lendio doesn’t publish rate ranges. SBA 7(a) loans and bank term loans usually cost the least. Short-term loans and Revenue-based financing. Funding repaid as a fixed share of your future sales. Compare small business financing companies can cost far more, often quoted as a Factor rate. A multiplier showing total repayment, such as 1.2 meaning $1.20 back per $1 borrowed. Compare small business financing companies rather than an APR. The yearly cost of a loan including interest and fees, used to compare offers. Compare small business financing companies.
Before you accept, ask the lender for the APR, total repayment, payment frequency (daily, weekly or monthly), origination fees, prepayment terms and whether you’re signing a personal guarantee.
How Lendio works and who qualifies
You fill out one application, a funding manager reviews your goals, and Lendio presents your file to lenders. Its minimums are a 600 credit score, 6 months in business and $8,000 in monthly revenue. Financing ranges from $1,000 lines of credit to SBA 7(a) loans of up to $5 million. Accepting an offer may lead to a hard credit inquiry. Lendio says funding can come in as little as 24 hours for some products, but SBA loans take longer.
What customers say about Lendio
Recurring themes across the review sites and complaint records listed above, not individual quotes.
Common praise
- Knowledgeable, responsive funding managers
- A quick application and matching process
- Personal guidance through loan choices
- A smooth experience for most funded borrowers
Common complaints
- Fees and costs that weren't fully explained up front
- Denials or delays after completing paperwork
- Repeated follow-up calls from lenders
- Too little detail on lender terms before signing
Your data and follow-up calls
Lendio says it does not sell your data to data brokers or lead generators. It does share your application with the lenders, brokers and funders on its platform, and those matched companies may keep your information even if you don’t use them. You can ask each lender, or Lendio, to remove your records. Expect calls and emails while you shop.
Complaints and how to avoid problems
Lendio has about 21,900 Trustpilot reviews with a 4.5 score, and most praise its funding managers. The complaints center on fees that weren’t explained, denials after lots of paperwork and repeated calls. Get the full cost in writing, compare at least two offers, and be wary of daily or weekly payment products if your cash flow is uneven.
Lendio’s terms require binding arbitration and waive class actions, though you can opt out by following the steps in section 10.G.
Who should skip Lendio
If you have two or more years in business, solid revenue and good credit, start with your bank, a credit union or the SBA’s free Lender Match tool. If you want a published price up front, a direct lender like OnDeck or Bluevine is clearer. And if you don’t want your application seen by many lenders and brokers, apply directly to one or two.
Alternatives to Lendio
-
SBA Lender Match
Free SBA tool that sends your request to SBA-participating lenders, often the cheapest route for an established business.
-
Bluevine
Better if you want a line of credit from a single company that publishes its starting rate.
-
OnDeck
Better if you want a direct lender that publishes its average APRs before you apply.
-
Your local bank or SBDC
Small Business Development Centers give free help preparing a loan package, and banks usually charge less than online funders.
Lendio reviews
Written by readers, read by our moderators, never edited by the company.
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Frequently asked questions
Is Lendio a direct lender?
No. Lendio is a marketplace that connects you with lenders and funders in its network. It does not make loans or credit decisions.
Does Lendio charge a fee?
Lendio says applying is free. You pay whatever rate and fees the lender you choose charges.
Does applying with Lendio hurt my credit?
Lendio says applying won't affect your credit. Accepting a funding offer may result in a hard inquiry, depending on the lender and product.
What credit score do I need for Lendio?
Lendio lists a 600 credit score, 6 months in business and $8,000 in monthly revenue as minimums. Individual lenders may require more.
How many lenders does Lendio work with?
Its loan pages say 75+ lenders, and its home page says more than 100 lenders and funders.
Does Lendio sell your information?
Lendio says it does not sell data to brokers or lead generators, but it shares your application with lenders, brokers and funders on its platform, who may keep it.
Can I get an SBA loan through Lendio?
Yes. Lendio lists SBA 7(a) loans of up to $5 million through lenders in its network. The SBA's free Lender Match tool is another way to reach SBA lenders.
How fast does Lendio fund?
Lendio says funding can arrive in as little as 24 hours for some products, but timing depends on the product and lender, and SBA loans take longer.
Does Lendio offer grants?
No. Lendio says it does not offer grants.
What is Lendio's BBB rating?
A+, with accreditation since August 18, 2021 and 21 complaints in the last three years as of October 2026.
Sources (9)
Facts on this page come from company websites, government agencies and regulators, checked on the dates shown. Editorial standards
- Lendio: Small business loans (accessed October 12, 2026)
- Lendio: Home page and FAQs (accessed October 12, 2026)
- Lendio: How it works (accessed October 12, 2026)
- Lendio: Does Lendio sell your data? (accessed October 12, 2026)
- Lendio: Terms of use (accessed October 12, 2026)
- BBB: Lendio, Inc. (accessed October 12, 2026)
- FTC: Warning letter to Lendio, Inc. (May 14, 2020) (accessed October 12, 2026)
- Trustpilot: Lendio (accessed October 12, 2026)
- SBA: Lender Match (accessed October 12, 2026)
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