Advertiser Disclosure

💳 Save money on credit card processing with one of our top 5 picks for 2022

7 Lendio Competitors: Explore Online Lending Alternatives For Your Business

Shopping around for business funding? Moving away from Lendio? Keep on reading to check out the important differences between Lendio and its top 7 competitors.

    Chris Motola
  • No comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Best Lendio competitors

Lendio offers loan seekers an easy way to apply to multiple lenders with a single application. However, less time-conscious businesses can still benefit from doing some comparison shopping by hand.

Lendio’s top competitors are BlueVine, OnDeck, Fundera, Kabbage, SmartBiz, Accion Opportunity Fund, and US Business Funding.

Below we’ll take a look at each competitor and what they have to offer. Keep on reading for our comparisons.

Learn More About Our Top Picks

CompanyBest ForNext StepsBest For
BlueVine

Read More

Best Lendio competitor for banking services
Best Lendio competitor for banking services

Visit Site

Read More

OnDeck

Read More

Best Lendio competitor for fair credit scores
Best Lendio competitor for fair credit scores

Apply Now

Read More

Fundera by NerdWallet

Read More

Best Lendio competitor for loan matchmaking
Best Lendio competitor for loan matchmaking

Apply Now

Read More

Kabbage Loans

Read More

Best Lendio competitor for businesses with low revenue
Best Lendio competitor for businesses with low revenue

Apply Now

Read More

SmartBiz

Read More

Best Lendio competitor for SBA loans
Best Lendio competitor for SBA loans

Apply Now

Read More

Other Featured Options:

  • Accion: Best Lendio competitor for disadvantaged businesses
  • US Business Funding: Best Lendio competitor for mid-sized businesses

Read more below to learn why we chose these options.

Top 7 Lendio Competitors At A Glance

1. BlueVine: Best For Banking Services

BlueVine



Visit Site

Read our Review

Pros

  • Low credit score qualifications
  • Low revenue qualifications
  • Funds get disbursed quickly

Cons

  • Financing isn’t available in some states
  • Rates can be expensive
  • Customer service is inconsistent

BlueVine is a well-established fintech lender that’s gone through a number of iterations. Currently, BlueVine offers lines of credit and business banking services. Though BlueVine’s lending products are limited, its lines of credit can be a lifeline to businesses that have a combination of fair credit (600) and relatively low monthly revenue ($10,000).

How BlueVine Is Different From Lendio:

Lendio BlueVine
Type of Funding Lines of credit; SBA Loans; Short-Term Loans; Term Loans; Merchant Cash Advances; Equipment Financing Lines of Credit; Business banking
Borrowing Amount $1,000 – $5 million (varies by product and lender) $5,000 – $250,000
Approval 72 hours (longer for SBA loans) 24 hours

Read our in-depth review

Jump back to comparison chart

2. OnDeck: Best For Fair Credit Scores

OnDeck



Apply Now

Read our Review

Pros

  • Low credit score qualifications
  • Multiple types of financing available
  • Funds get disbursed quickly
  • Lower costs for repeat customers

Cons

  • Financing isn’t available in some states
  • Rates can be expensive
  • Not available to certain industries

OnDeck is one of the older names in alternative lending. While it’s not the cheapest option around, business borrowers can benefit from OnDeck’s repeat customer policy, which offers lower rates to returning applicants.

OnDeck does offer loans with no prepayment penalty, just be aware that you have to request the option, which may increase the interest rate of your loan.

How OnDeck Is Different From Lendio:

Lendio OnDeck
Type of Funding Lines of credit; SBA Loans; Short-Term Loans; Term Loans; Merchant Cash Advances; Equipment Financing Lines of Credit; Short term loans
Borrowing Amount $1,000 – $5 million (varies by product and lender) $5,000 – $250,000
Approval 72 hours (longer for SBA loans) 24 hours

Get Started with OnDeck

Read our in-depth review

Jump back to comparison chart

3. Fundera By NerdWallet: Best For Loan Matchmaking

Fundera by NerdWallet



Apply Now

Read our Review

Pros

  • Multiple types of financing available
  • Transparent advertising
  • Good customer service

Cons

  • Charges some additional fees

If you’re looking for a service that works very similarly to Lendio but isn’t Lendio, Fundera is a pretty obvious choice.

Fundera is a loan matchmaking service, meaning you’ll apply to multiple lenders in Fundera’s network with a single application. This comes with convenient perks like an eligibility tracker, which can inform you when you qualify for new products. Compared to Lendio, Fundera’s network is smaller, but carefully curated.

How Fundera Is Different From Lendio:

Lendio Fundera by Nerdwallet
Type of Funding Lines of credit; SBA Loans; Short-Term Loans; Term Loans; Merchant Cash Advances; Equipment Financing Lines of credit; SBA Loans; Short-Term Loans; Invoice Financing; Merchant Cash Advances; Equipment Financing
Borrowing Amount $1,000 – $5 million (varies by product and lender) $2,500 – $5 million
Approval 72 hours (longer for SBA loans) 24 hours (longer for SBA loans)

Get Started with Fundera by NerdWallet

Read our in-depth review

Jump back to comparison chart

4. Kabbage: Best For Businesses With Low Revenue

Kabbage Loans



Apply Now

Read our Review

Pros

  • Low monthly revenue requirements
  • No added fees
  • No early payment penalty

Cons

  • Rates can be expensive

Kabbage fills a niche similar to BlueVine, with a focus on lines of credit and bank-like services. Kabbage’s credit limits are relatively low but should be accessible to even very small businesses with low monthly revenue. The trade-off is that Kabbage’s credit score requirements are a little bit higher (640) but still lower than what you’ll generally see from traditional lenders.

How Kabbage Is Different From Lendio:

Lendio Kabbage
Type of Funding Lines of credit; SBA Loans; Short-Term Loans; Term Loans; Merchant Cash Advances; Equipment Financing Lines of credit; Business banking
Borrowing Amount $1,000 – $5 million (varies by product and lender) $2,000 – $250,000
Approval 72 hours (longer for SBA loans) 24 hours

Get Started with Kabbage Loans

Read our in-depth review

Jump back to comparison chart

5. SmartBiz: Best For SBA Loans

SmartBiz



Apply Now

Read our Review

Pros

  • Excellent reputation
  • Low interest rates
  • Good customer support

Cons

  • Lengthy application process
  • Some additional fees

If you’re looking specifically for SBA loans, you may benefit from working with a company as specialized as SmartBiz. SmartBiz and its bank partners are focused entirely on helping businesses navigate the complicated but popular SBA 7(a) business loan program. Since SmartBiz only deals with SBA loans, you’ll know what kinds of rates and terms you can expect upfront. Just remember that even with SmartBiz’s excellent customer service, the SBA loan application process takes some time.

How SmartBiz Is Different From Lendio:

Lendio SmartBiz
Type of Funding Lines of credit; SBA Loans; Short-Term Loans; Term Loans; Merchant Cash Advances; Equipment Financing SBA Loans
Borrowing Amount $1,000 – $5 million (varies by product and lender) $30,000 – $5 million
Approval 72 hours (longer for SBA loans) Up to 3 months

Get Started with SmartBiz

Read our in-depth review

Jump back to comparison chart

6. Accion Opportunity Fund: Best For Disadvantaged Businesses

Accion



Visit Site

Read our Review

Pros

  • Low credit score requirements
  • Monthly repayments
  • No prepayment penalty
  • Good customer service

Cons

  • Rates can be expensive
  • Low borrowing amounts
  • Not available in all states

While matchmaking services like Lendio can be a great way for businesses with poor credit or limited history to find a lender, sometimes they can benefit from a more specialized service. Accion partners with Lending Club to offer term loans to businesses that tend to be underserved by the traditional lending industry, including women-, minority-, and veteran-owned businesses.

Just be aware that Accion is still a California-centric service, so it may not be fully available in your state.

How Accion Opportunity Fund Is Different From Lendio:

Lendio Accion Opportunity Fund
Type of Funding Lines of credit; SBA Loans; Short-Term Loans; Term Loans; Merchant Cash Advances; Equipment Financing Term loans
Borrowing Amount $1,000 – $5 million (varies by product and lender) $5,000 – $100,000
Approval 72 hours (longer for SBA loans) Variable

Read our in-depth review

Jump back to comparison chart

7. US Business Funding: Best For Mid-Sized Businesses

US Business Funding



Visit Site

Read our Review

Pros

  • Multiple types of financing available
  • High borrowing amounts
  • Borrower qualifications are lower than banks
  • Good customer service

Cons

  • Rates can be expensive
  • Some additional fees

Growing businesses may need more capital than some of the other options on this list can provide. Those businesses may want to take a look at US Business Funding, which can provide up to $10 million in equipment financing or working capital. If you’re looking for a fintech lender that provides terms somewhat similar to a traditional bank, albeit with higher rates, US Business Funding can probably take care of many of your needs.

How US Business Funding Is Different From Lendio:

Lendio US Business Funding
Type of Funding Lines of credit; SBA Loans; Short-Term Loans; Term Loans; Merchant Cash Advances; Equipment Financing Term loans, Equipment financing; SBA Loans
Borrowing Amount $1,000 – $5 million (varies by product and lender) Up to $10 million
Approval 72 hours (longer for SBA loans) 24 hours (longer for SBA loans)

Read our in-depth review

Jump back to comparison chart

FAQs: Lendio's Top Competitors

Is Lendio a legit company?

Lendio is a legitimate loan matchmaker working with many of the top names in alternative lending.

Is Lendio an approved SBA lender?

While Lendio does not directly originate any loans, including SBA loans, it does match applicants to approved SBA lenders in its network.

What type of company is Lendio?

Lendio is a loan aggregation service. It matches applicants to lenders within its network.

Who are Kabbage competitors?

Kabbage is a fintech company that offers lines of credit and business banking services, so it has a large number of competitors including BlueVine, OnDeck, and Lendio.

Top 7 Lendio Competitors: Which Is Right For Your Small Business?

The question of whether or not to use Lendio boils down to whether you want to directly apply to a lender instead of using its matchmaking features. While this may be a more time-consuming process, it does allow you more direct control over the process. While Lendio doesn’t charge applicants any additional fees, it does charge the lenders a fee that may or may not be passed on to you, so you can potentially save a little money by avoiding the middle man.

Looking for more business loan resources? Check out our list of best business loans, and our list of best loans for start-ups.

In Summary: Top 7 Lendio Competitors At A Glance

  1. BlueVine: Best Lendio competitor for banking services
  2. OnDeck: Best Lendio competitor for fair credit scores
  3. Fundera by NerdWallet: Best Lendio competitor for loan matchmaking
  4. Kabbage Loans: Best Lendio competitor for businesses with low revenue
  5. SmartBiz: Best Lendio competitor for SBA loans
  6. Accion: Best Lendio competitor for disadvantaged businesses
  7. US Business Funding: Best Lendio competitor for mid-sized businesses
Chris Motola

Chris Motola

Expert Analyst & Reviewer at Merchant Maverick
An expert in personal and business loans and financial health, Chris Motola has been writing about small business finance and payments for over 5 years. He has been cited in various industry publications, including Forbes Advisor, GoBankingRates, and Medium. Chris is a graduate of the University of Central Florida.
Chris Motola
View Chris Motola's professional experience on LinkedIn.
Leave a comment

No Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

Leave a Reply

Your email address will not be published.

Comment moderation is enabled. Your comment may take some time to appear.
Please read the "User Review and Comment Policy" before posting.

The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.

Our Experts Recommend Lendio for Loans 🏆

Lendio is a free-to-use marketplace that allows you to compare lenders side-by-side.

Compare Offers

Get approved today

Sign up for the Maverick Newsletter

  • Please select topics of interest

  • We occasionally send out emails with special offers.
  • This field is for validation purposes and should be left unchanged.