Lendio Review: Business Loan Marketplace Reviewed
Lendio is a business loan marketplace that offers a simple and quick way to get the funding your business needs. Lendio connects small business owners with over 75+ lenders, providing access to financing options that may not be available through traditional channels.
What Is Lendio?
Lendio is an online marketplace that connects small business owners with over 75+ lenders. The company offers a simple and quick way to get the funding your business needs.
Lendio was founded in 2007 by Brock Blake and Sven Johnson. The company is headquartered in Lehi, Utah.
Lendio has an A+ rating with the Better Business Bureau and is a member of the National Association of Professional Background Screeners.
How Does Lendio Work?
To begin, you fill out a short online form with some basic information about your business. Lendio then uses this information to match you with the best lenders for your business.
Once you are matched with lenders, you can view their offers and compare rates and terms. Once you have selected a lender, Lendio will help you complete the loan application process.
Lendio is free to use. There are no hidden fees or costs. You only pay if you accept a loan offer from a lender.
What Are The Benefits Of Using Lendio?
There are many benefits of using Lendio to get a business loan, including:
- Access to over 75+ lenders: With Lendio, you have access to more lenders than you would if you applied for a loan on your own. This increases your chances of getting approved for a loan.
- A simple and quick way to get funding: Lendio makes it easy to apply for a loan and get the funding you need.
- Competitive rates and terms: Lendio offers competitive rates and terms from its network of lenders.
- Free to use: There are no hidden fees or costs. You only pay if you accept a loan offer from a lender.
What Are The Drawbacks Of Using Lendio?
There are a few drawbacks to using Lendio, including:
- You may receive multiple offers: If you are matched with multiple lenders, you may receive several loan offers. This can be overwhelming and make it difficult to compare offers.
- You are not guaranteed to get a loan: While Lendio increases your chances of getting a loan, there is no guarantee that you will be approved.
Is Lendio Legit?
Yes, Lendio is a legitimate company. It is an online marketplace that connects small business owners with over 75+ lenders. The company offers a simple and quick way to get the funding your business needs.
Lendio has an A+ rating with the Better Business Bureau and is a member of the National Association of Professional Background Screeners.
Should You Use Lendio?
If you are a small business owner in need of a loan, Lendio is a good option to consider. The company offers a simple and quick way to get funding, and it has a large network of lenders. However, you should compare multiple offers before choosing a loan, as there may be better options available.