Compare Fundera vs. Lendio Small Business Loans

What’s the difference between Fundera Small Business Loans and Lendio Small Business Loans? See how our editors compare the two companies below.
Last Updated: June 18, 2018
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Fundera
8.9 / 10 - Excellent
#12 in Small Business Loans
Lendio
9.4 / 10 - Excellent
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Key Facts

  • Business Lines of Credit up to $1 Million
  • Only Partners with a Select Group of Proven Lenders
  • Competitive Rates
  • Eligibility Tracker
  • Completely free service without hidden charges
  • Know your business loan options in minutes
  • Makes small business loan simple and fast
  • Have all business loan options
  • Fast and easy loan application
  • Loan Specialist that will assist you through the process

OVERALL RATINGS

 FunderaLendio
Loan Options10/109/10
Application Process8/109/10
Rates & Fees9/109/10
Reputation9/1010/10

Loan Options

Available Loan Types

 FunderaLendio
SBA Loans
Term Loans
Lines of Credit
Invoice Financing
Merchant Cash Advances
Equipment Loans

SBA Loans

 FunderaLendio
Min. Loan Amount
$5,000
$50,000
Max Loan Amount
$5,000,000
$5,000,000
Min Term Length
5 years
10 years
Max Term Length
25 years
25 years

Term Loans

 FunderaLendio
Min Loan Amount
$25,000
$5,000
Max Loan Amount
$500,000
$2,000,000
Min Term Length
12 months
12 months
Max Term Length
60 months
60 months
Repayment Terms
Repayment terms will depend on the lender.
Fixed weekly, bi-monthly, or monthly payments

Business Lines of Credit

 FunderaLendio
Min Loan Amount
$10,000
$1,000
Max Loan Amount
$1,000,000
$500,000
Min Term Length
12 months
12 months
Max Term Length
60 months
24 months
Repayment Terms
Depends on chosen lender
Monthly payments

Invoice Financing

 FunderaLendio
Loan Amount
From 50% to 90% of accounts receivable. The additional 10% to 50%, minus fees, will be advanced once invoices are paid.
Up to 90% of the Account Receivable
Repayment Terms
Fundera will fund you approximately 50%-90% of the invoice amount. When the customer pays the invoice you will receive the remaining balance minus fees.

Merchant Cash Advance

 FunderaLendio
Min Loan Amount
$2,500
$5,000
Max Loan Amount
$250,000
$200,000
Repayment Terms
Fixed daily repayments.
Daily, weekly, or monthly deductions from credit card sales.

Rates & Fees

SBA Loans

 FunderaLendio
Min APR
6.5%
6.5%
Max APR
9.0%
9.0%

SBA Loans

Fees: There may be origination, application, processing, prepayment, late payment, guarantee, or check processing fees, depending on the lender and type of loan requested.

Term Loans

Fees: Fundera advertises term loan rates of 7%-30% with repayment terms of 1-5 years. Since origination, application, processing, prepayment, late payment, guarantee, or check processing fees will depend on the lender, we are unable to calculate accurate APRs.

Term Loans

Fees: Lendio advertises term loan rates that range from 6%-30%. Actual APR, however, will depend on the chosen lender's term length and fees.

Lines of Credit

Fees: Fundera advertises term loan rates of 7%-25% with repayment terms of 6 months to 5 years. Since origination, application, processing, prepayment, late payment, guarantee, or check processing fees will depend on the lender, we are unable to calculate accurate APRs.

Lines of Credit

Fees: Lendio advertises line of credit rates that range from 8%-24%. Actual APR, however, will depend on the chosen lender's term length and fees. The higher your credit score the better your rate will be. A traditional line of credit with a rate as low as prime+ can be obtained with a 680+ credit. If your credit is challenged at the moment then a non-traditional loan can give you a good option with higher rates.

Invoice Financing

Fees: Fundera's invoice financing loans have a factor fee of 3%.

Invoice Financing

Fees: Lendio will finance up to 90% of accounts receivable at a factor rate as low as 5%. There also can be an additional cost per invoice fee.

Merchant Cash Advances

Fees: Merchant cash advance factor fees range from 1.14 to 1.18.

Equipment Loans

Fees: Fundera advertises equipment loan rates of 8%-30% with repayment terms equalling the expected life of the item financed. Since origination, application, processing, prepayment, late payment, guarantee, or check processing fees will depend on the lender, we are unable to calculate accurate APRs.

Equipment Loans

Fees: Lendio advertises equipment financing rates that range from 7.5%-45%. Actual APR, however, will depend on the chosen lender's term length and fees.

Application & Qualifications

 FunderaLendio
Online Application
Approval Time
As quick as 24 hours
Funding Time
From 1 day to 3 weeks.
Get the capital you need in as little as 24 hours.
Min. Credit Score
550
550

Reputation

Customer Feedback

 FunderaLendio
TrustPilot Score
9.0 out of 10
9.4 out of 10
BBB Rating
A+
A-
BBB Neutral Reviews
1
BBB Negative Reviews
1
1
Date Collected
2017-08-23
2017-08-23

Contact & Additional Information

 FunderaLendio
Homepage URL
Company Phone
(800) 386-3372
(855) 853-6346
Headquarters Address
123 William Street, 21st Floor, New York, NY, 10038
10235 South Jordan Gateway, Suite 410, South Jordan, UT, 84095
Year Founded
2013
2005

Final Verdict

Lendio Small Business Loans has a higher overall rating than Fundera Small Business Loans. Lendio scores better than Fundera across: Application Process, Rates & Fees, and Reputation. Both companies score similarly on Loan Options.


Customer Comments & Reviews

B
Ben R
New York, New York
8/19/2016
Fundera Small Business Loans review
Excellent company! Fast. Easy. They really care about you.