While not a direct lender, LendingTree offers a loan marketplace to connect businesses with lines of credit, term loans, MCAs, and other financial products.
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REVIEWED BY
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| Total Rating | 4.5 |
|---|---|
| Rates & Fees4.2 | |
| Services4.8 | |
| Eligibility Requirements4.9 | |
| Application4.5 | |
| Sales & Advertising Transparency4.7 | |
| Customer Service4.2 | |
| User Reviews3.5 | |
Table of Contents
LendingTree is an online platform connecting individuals and businesses to a wide range of financial products through its lending partners. LendingTree does not originate loans. Instead, the company charges its partners for the use of its service. LendingTree’s partners include familiar names, such as OnDeck, Kabbage, Credibly, and Fora Financial.
LendingTree is best viewed as a time-saving tool for businesses that don’t want to slog through the alternative lending wilderness to find the best deal.
| Services4.8 |
|---|
| Lending Services 4.5 |
| Lending Limits 5.0 |
| Payment Portal & Mobile App 5.0 |
LendingTree offers the following through its partners:
As LendingTree can connect businesses with nearly any type of funding, we rated the company 4.8/5 for its services.
| Eligibility Requirements4.9 |
|---|
| Transparency 5.0 |
| Eligibility Qualifications 4.7 |
| Availability 5.0 |
When evaluating if your business is eligible for funding, LendingTree doesn’t have explicit rule-out criteria for potential borrowers. Instead, the company will use your credit, annual revenue, and overall profitability to try to match you with a lender who is willing to work with you and your circumstances.
That said, expect to get better — and more — offers if you have good credit, have been in business for a long time, and are profitable.
The LendingTree website does provide plenty of information to help you determine what you may qualify for before applying. Though you may have to click around a bit to find everything you need, minimum requirements are disclosed for many of LendingTree’s partner lenders.
This transparency and the flexible borrower qualifications of LendingTree’s partners contributed to our score of 4.9/5 in this category.
| Rates & Fees4.2 |
|---|
| Pricing 5.0 |
| Affordability 3.4 |
Each of LendingTree’s partners has its own criteria for who it will lend to, the fees it charges, the interest rates you’ll receive, and the length of time you’ll have to pay it back. Some criteria will be contingent not only on the lender but also on the type of product you’re approved for.
There are some things you’ll want to keep in mind. One of the biggest will be how interest is calculated and accumulates. Some products, particularly short-term loans, have fixed fees. You’ll also want to know all the service, administrative, and origination fees the lender charges; these can range from minimal to downright punishing.
You’ll also want to know how frequently you need to repay your loan. Depending on the lender and product, payment may be expected monthly, weekly, or even daily. In many cases, the lender will want that payment automatically deducted from an account, so make sure you’re comfortable with whatever payment arrangement is required.
While LendingTree partners with lenders that offer low-rate, long-term loan products, the lack of transparency surrounding potential account fees was kept in mind when giving this lending marketplace a rating of 4.2/5.
| Application4.5 |
|---|
| Application Process 5.0 |
| Application Timeline 4.0 |
The quick and easy application process is probably one of the reasons you’re considering LendingTree. You can start the process online by providing information such as your business structure, loan purpose, loan amount, how quickly you need funds, monthly revenue, and credit score. At the end of the process, you’ll be prompted to give your contact information.
Once you’ve submitted your information, LendingTree will ideally match you with up to five offers from its partners. The company boasts that you’ll get your offers within two minutes. From there, the process varies, depending on the lender you’re matched with and the type of product you’re seeking.
Overall, LendingTree’s application process is fast and painless. We only made a minor deduction to our rating as some loans may take some time to disburse. Despite this, LendingTree still earned a respectable 4.5/5 for its application process.
| Sales & Advertising Transparency4.7 |
|---|
| Sales Practices 5.0 |
| Web Presence 4.3 |
When we first reviewed LendingTree Business Loans, the company website gave us little to work with without having to submit personal information. Fortunately, the company now provides plenty of information, including lists of some of its partner lenders, borrowing requirements, term lengths, minimum interest rates, and more.
The company also provides additional helpful information such as the pros and cons of various types of business loans, explanations of the various types of loans available, loan calculators, and other resources.
LendingTree doesn’t provide the most frequent updates on its social media profiles but still provides plenty of tips, tricks, and helpful resources. Overall, LendingTree has come pretty far in terms of its transparency, which is why we’ve rated it 4.7/5 for this category.
| Customer Service4.2 |
|---|
| Personal Support 3.9 |
| Self-Service 5.0 |
If you need support, you can call LendingTree Monday-Thursday 8 AM-9 PM, Friday 8 AM-8 PM, or Saturday 10 AM-7 PM ET. LendingTree can also be reached through live chat and email.
| LendingTree Business Loans Customer Service | Availability |
|---|---|
| Phone Support | |
| Email Support | |
| Support Tickets | |
| Live Chat | |
| Dedicated Support Representative | |
| Knowledge Base or Help Center | |
| Videos & Tutorials | |
| Company Blog | |
| Social Media |
If you prefer to interact with the company through social media, you can follow LendingTree on Facebook, Instagram, YouTube, or TikTok. A company blog with various articles about lending and other topics is available. The company also provides plenty of information and resources (such as loan calculators) throughout its website.
The overall quality of customer service is also good, with most users praising customer service reps for their helpfulness, although there are a few complaints, which contributed to our high marks for customer service and technical support.
| User Reviews3.5 |
|---|
| User Feedback 3.0 |
| Review Site Aggregate 3.7 |
LendingTree is accredited by the Better Business Bureau, where it holds an A+ rating. The company has closed over 200 complaints in the last three years. Overall, reviews for the company are positive, although there are several complaints worth noting. We took all of these factors into consideration when giving our rating of 3.5/5.
Common complaints about LendingTree surround the company’s:
LendingTree has a 4.3 out of 5 TrustScore on Trustpilot. Customers most like:
LendingTree is a well-known, comprehensive service that can match most applicants to some kind of funding with relatively little fuss and pain. The application process is quick and easy, and the company is partnered with plenty of lenders that provide everything from long-term SBA loans to merchant cash advances.
However, there are a few concerns worth noting. You won’t know specific details about your loan options until you apply, which is pretty common with marketplace lenders. Some details, such as account fees, aren’t disclosed upfront. There are also several complaints about aggressive marketing tactics.
Despite these issues, LendingTree has a solid reputation as a personal and business loan marketplace and has numerous lending partners that are well-known in the small business lending space. For these reasons, we recommend LendingTree Business Loans and have rated the company 4.5/5 overall.
Not convinced you want to go this route? Keep searching for the right lender starting with our top picks for best small business loans.
We spend hours researching and evaluating each business loan and funding product that we review at Merchant Maverick, placing special emphasis on key characteristics to generate our ratings.
When rating lenders and funding providers, we use a 31-point rubric that looks at rates and fees, services, eligibility requirements, application, sales and advertising transparency, customer service, and user reviews. We weigh each section differently to calculate the total star rating. This rubric is applied to traditional term loans, as well as short-term loans, start-up loans, lines of credit, online lending products, merchant cash advances, and equipment financing products.
Each section is further broken down into granular, weighted subsections, in which we examine specific attributes like terms lengths, conditions of repayment, credit score and revenue requirements, ease of application, length of time to funding, the ethics involved in promoting the lending product, customer support, and the overall reputation of the lender or funding provider.
Read more about how we rate small business lenders.
The Merchant Maverick Seal of Approval 🏆
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LendingTree Business Loans
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After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see LendingTree Business Loans for yourself.
The Merchant Maverick Seal of Approval 🏆
|
LendingTree Business Loans
|
|---|
After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see LendingTree Business Loans for yourself.
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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 team of experts spends hours on every review so that we can find the best companies to recommend to our readers. LendingTree Business Loans made the cut.
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