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Lendio Review


2.5 rating

Foundation Year


Office Address
4100 Chapel Ridge Road, Suite 500, Lehi, UT 84043

Phone number


  • Easy online application
  • Variety of loan types
  • 1-7 day time to funding
  • Relaxed credit score requirements
  • Helpful loan calculators
  • Live chat
  • Secure website


  • Not a direct lender
  • High interest possible
  • Not BBB accredited
  • Some loans require extra documentation
  • No face-to-face consultation
  • Mixed reviews


Lendio is a loan aggregation service headquartered in South Jordan, Utah. It’s a platform that allows you to apply for a loan with a wide range of partnered lenders with a single application. They offer a wide array of loan products and have a good reputation.

Their mission is to fuel the American Dream by helping small business owners find the loan they in times of crisis — through a simple and fast online application.

The company has already served over 200,000 applicants for $10 billion in total funding.

What loans does Lendio offer?

Short Term Loan

Business Line of Credit

Merchant Cash Advance/ACH

Business Term Loan

Business Acquisition Loan

Business Credit Card

Commercial Mortgages

Small Business Administration (SBA) Loan

Equipment Financing

Accounts Receivable Financing

The company also offers a variety of SBA loans (SBA 7(a) Loan, SBA 504 Loan, SBA Express Loan, PPP Loan).

What states does Lendio service?

The company provides loans in all 50 US states: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, Wyoming.

What terms and rates does this company offer?

Since Lendio is not a direct lender, it cannot quite the exact rates and fees. They will vary, depending on the lender you’re matched with. According to the website, charges may include:

The referral service is free to use.

How do I qualify for a Lendio loan?

Because the referral service works with a wide range of various lenders, your business does not have to meet any specific eligibility criteria to be eligible for a loan.

To have the best chance of approval, you must meet the following requirements:

The requirements for equipment financing are more stringent. To get approved, you must be at least 12 months in business and have a 650+ credit score.

Can I pay a loan back earlier?

Your prepayment penalties and other fees depend on the individual lender you are matched with. You’ll have to find out if the lender charges a prepayment penalty if you decide to pay off your loan before the due date.

Can I take a loan if my credit score is low?

Yes. Even if you have a bad credit score, you can still qualify for a loan with Lendio. Lenders from the network offer some loan types for bad credit, for example, a merchant cash advance. But you probably will not be able to get a real estate loan with bad credit. The higher your credit score, the more likely you are to get approved.

How to apply for a loan?

The application process is easy and only takes 15 minutes. First of all, you must create an account and fill out an application form. You will be asked to provide some basic information, such as your name, business, and your monthly income. At this point, the company will perform a soft pull on your credit report, which will not impact your credit score.

Then Lendio will try to match you with participating lenders who are able to make a loan offer. According to the website, this step takes no longer than 3 business days.

A company representative will contact you with any loan offers received. You can review offers and choose the one you like most. If you are ready to accept the offer, you will continue the funding process with the chosen lender.

How to pay a loan back?

Repayment terms vary depending on the lender, loan period, loan amount, and other factors. As Lendio partners with a wide range of lenders, you can be sure to choose the repayment terms you find most attractive.

Does Lendio have a mobile app?

This company doesn’t have a mobile app, which may cause some inconvenience for active smartphone users.


Lendio is a reliable loan matching service that has earned the respect of many small business owners all across the USA. They can boast of a simple application process, great customer support, helpful loan calculators, and a large number of participating lenders. Besides, applying for a loan via this platform doesn’t impact your credit. You can submit an application online and receive your funds as soon as the next business day. The majority of Lendio’s reviews are positive, highlighting the company’s brilliant communication, great customer service, easy and fast application, and decent rates. We can recommend this company for your borrowing needs.


2.0 rating

Very quick process. But it’s been 6 days since I’ve signed the contract and sent a voided check. Still no money!

Bruce Mullins
1.0 rating

Bad customer support. Contacted them many times but no response. I applied with 2 banks to be safe. I have spent the whole day trying to talk to a real person but in vain. Applying through this website was a big mistake.

Anthony Larsen
1.0 rating

Worst experience ever!! Do not use them. They never answer calls and are never doing what they promise. It’s been 5 days and still no money. Terrible service. Run away. Apply with a local lender. LENDIO IS WASTE OF TIME!

Wendy Ford
1.0 rating

A wide range of products and fantastic customer service.

Sandra Brown
1.0 rating

Lendio doesn’t answer emails, doesn’t return phone calls. Not recommended company.

Cynthia Perkins

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