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Lendio Review: Business Loan Marketplace

Lendio does not originate loans directly, but its network of 75 business funders is designed as a one-stop-shop for financing.

    Erica Seppala
  • Last updated onUpdated

  • Chelsea Krause
  • REVIEWED BY

    Chelsea Krause

    Lead Staff Writer

Our content reflects the editorial opinions of our experts. While our site makes money through referral partnerships, we only partner with companies that meet our standards for quality, as outlined in our independent rating and scoring system.
Total Rating 4.8
Rates & Fees5.0

Services5.0

Eligibility Requirements4.9

Application4.5

Sales & Advertising Transparency4.4

Customer Service4.9

User Reviews4.9

Lendio At A Glance

  • Lendio is a funding platform that allows small business owners to compare funding offers with a single application
  • Lendio doesn’t originate loans or other funding but instead helps small business owners connect with 75 lenders
  • Small business owners can apply for a variety of funding, including SBA loans, short-term loans, merchant cash advances, equipment financing, and lines of credit

Business Loan & Funding Products Review Methodology

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.

Weighted Rating Breakdown

Services 30%
Rates & Fees 15%
Eligibility Requirements 15%
Application 15%
Sales & Advertising Transparency 10%
Customer Service 10%
User Reviews 5%

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.

  • Rates & Fees: 20% of the total star rating
  • Services: 20% of the total star rating
  • Eligibility Requirements: 20% of the total star rating
  • Application: 15% of the total star rating
  • Sales & Advertising Transparency: 10% of the total star rating
  • Customer Support: 5% of the total star rating
  • User Reviews: 5% of the total star rating

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.

Erica Seppala

Erica Seppala

Editor & Senior Staff Writer at Merchant Maverick
Erica began writing on small business topics in 2008. She joined Merchant Maverick in 2018 and focuses on loans, accounting, and POS. She is a Certified ProAdvisor for QuickBooks Online and QuickBooks Payroll. She has been cited in MSN, Reader's Digest, Vox, U.S. News & World Report, and Real Simple. She is a graduate of Limestone University and resides in Greenville, South Carolina.
Erica Seppala
View Erica Seppala's professional experience on LinkedIn.



The Merchant Maverick Seal of Approval 🏆

Lendio


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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 Lendio for yourself.

The Merchant Maverick Seal of Approval 🏆

Lendio


Apply Now

After hours of in-depth research and evaluation, we can confidently recommend this brand to our readers. Get started today and see Lendio for yourself.

To learn more about how we score our reviews, see our Business Loan Rating Criteria.