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.
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Expert Analyst & Reviewer
UPDATED
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
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
| Company | Best For | Next StepsBest For |
|---|---|---|
BlueVine  | Best Lendio competitor for banking services. | Best Lendio competitor for banking services.
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OnDeck  | Best Lendio competitor for fair credit scores. | Best Lendio competitor for fair credit scores.
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Fundera by NerdWallet  | Best Lendio competitor for loan matchmaking. | Best Lendio competitor for loan matchmaking.
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Kabbage Loans  | Best Lendio competitor for businesses with low revenue. | Best Lendio competitor for businesses with low revenue.
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SmartBiz  | Best Lendio competitor for SBA loans. | Best Lendio competitor for SBA loans.
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| Show More Options | ||
Accion  | Best Lendio competitor for disadvantaged businesses | Best Lendio competitor for disadvantaged businesses
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US Business Funding  | Best Lendio competitor for mid-sized businesses. | Best Lendio competitor for mid-sized businesses.
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| Show Fewer Options |
Read more below to learn why we chose these options.
Table of Contents [hide][show]
- Top 7 Lendio Competitors At A Glance
- 1. BlueVine: Best For Banking Services
- 2. OnDeck: Best For Fair Credit Scores
- 3. Fundera By NerdWallet: Best For Loan Matchmaking
- 4. Kabbage: Best For Businesses With Low Revenue
- 5. SmartBiz: Best For SBA Loans
- 6. Accion Opportunity Fund: Best For Disadvantaged Businesses
- 7. US Business Funding: Best For Mid-Sized Businesses
- FAQs: Lendio's Top Competitors
- Top 7 Lendio Competitors: Which Is Right For Your Small Business?
- In Summary: Top 7 Lendio Competitors At A Glance
Table of Contents
- Top 7 Lendio Competitors At A Glance
- 1. BlueVine: Best For Banking Services
- 2. OnDeck: Best For Fair Credit Scores
- 3. Fundera By NerdWallet: Best For Loan Matchmaking
- 4. Kabbage: Best For Businesses With Low Revenue
- 5. SmartBiz: Best For SBA Loans
- 6. Accion Opportunity Fund: Best For Disadvantaged Businesses
- 7. US Business Funding: Best For Mid-Sized Businesses
- FAQs: Lendio's Top Competitors
- Top 7 Lendio Competitors: Which Is Right For Your Small Business?
- In Summary: Top 7 Lendio Competitors At A Glance
Top 7 Lendio Competitors At A Glance
- BlueVine: Best for banking services.
- OnDeck: Best for fair credit scores.
- Fundera by Nerdwallet: Best for loan matchmaking.
- Kabbage: Best for businesses with low revenue.
- SmartBiz: Best for SBA loans.
- Accion Opportunity Fund: Best for disadvantaged businesses.
- US Business Funding: Best for mid-sized businesses.
1. BlueVine: Best For Banking Services
BlueVine
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|---|
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 |
2. OnDeck: Best For Fair Credit Scores
OnDeck
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|---|
Pros
- Low credit score qualifications
- Multiple types of financing are 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’s rates range from 29.9% to 99.9% APR (based on loans originated in the half-year ending March 31, 2022).
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 |
3. Fundera By NerdWallet: Best For Loan Matchmaking
Fundera by NerdWallet
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|---|
Pros
- Multiple types of financing are 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
4. Kabbage: Best For Businesses With Low Revenue
Kabbage Loans
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|---|
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
5. SmartBiz: Best For SBA Loans
SmartBiz
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|---|
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 |
6. Accion Opportunity Fund: Best For Disadvantaged Businesses
Accion
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|---|
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 |
7. US Business Funding: Best For Mid-Sized Businesses
US Business Funding
|
|---|
Pros
- Multiple types of financing are 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) |
Get Started With US Business Funding
FAQs: Lendio's Top Competitors
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 apply directly to a lender instead of using its matchmaking features. While this may be a more time-consuming process, it allows 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 middleman.
Looking for more business loan resources? Check out our list of best business loans and our list of best loans for startups.
In Summary: Top 7 Lendio Competitors At A Glance
- BlueVine: Best Lendio competitor for banking services.
- OnDeck: Best Lendio competitor for fair credit scores.
- Fundera by NerdWallet: Best Lendio competitor for loan matchmaking.
- Kabbage Loans: Best Lendio competitor for businesses with low revenue.
- SmartBiz: Best Lendio competitor for SBA loans.
- Accion: Best Lendio competitor for disadvantaged businesses
- US Business Funding: Best Lendio competitor for mid-sized businesses.
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.
View Chris Motola's professional experience on LinkedIn.
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