Lendio Small Business Loans Review

#10 in Small Business Loans

Lendio is an online resource for small business loan lenders. The company’s mission is to fuel American Dreams by making small business loans simple and providing multiple loan options.

Features and Services

Lendio gives borrowers access to loans of more than $1,000,000 that can be paid from 2 months to 5 years. Interest rates range from 7% to 30% with no prepayment penalties. This gives borrowers the option of paying their loans early without fear of incurring any fees.

Its loan application process is direct and is committed in finding a lender that meets the borrowers loan needs. It offers fast application process that takes only a few minutes and can be approved within the day.

The company’s requirements for applying a loan should be a U.S. citizen or a permanent resident that is at least 18 years old of age. It should also have a credit score of over 550, with no bankruptcy in the past three years and should be a resident of state where Lendio offers its services.

Lendio provides telephone and email support during its office hours. It also offers FAQ page on their website regarding concerns about loan process and terms.

Plan Details

Loan Amount

$1,000,000 plus

Loan Terms

2 months to 5 years

Interest Rates

7%-30%

Fixed Internet Rate

YES

Variable Interest Rate

NO

Down Payment

NO

 

Loan Fees

Closing Cost

Guarantee

Other Fees

Prepayment Penalty

Loan Application

Online Application

Personal Credit Profile

Business Credit Profile

Approval Time

SAME DAY

Local Branches

Available Nationwide

Application Time

WITHIN MINUTES

Mobile App

Qualifications

U.S. Citizen

Good Credit

Bankruptcy

Years in Business

Atleast 6 months

Qualified even with bad credit

Help and Support Services

Email Support

24 Hour Telephone Support

Live Chat

FAQs

Small Business Loans at Lendio

Lendio is an online loan network of lenders that is committed to small business loans. Its marketplace allows small business owners to find the best loan for their business. The company also provides loan specialists who can guide borrowers through the process. 

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