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Lendio Reviews: Professional Analysis & User Insights for 2024
Lendio is an online marketplace for a variety of small business loans. Customers shop and compare offers across a range of loan products from various lenders. In addition to loans, Lendio offers free tools to send invoices and track expenses.
Min. Credit Score 560+
Loan Amount Up to $500,000
Loan Repayment 1-2 years
Written by:TJ Porter
Reviewed by: Sarah Brooks, Personal Finance Writer and Editor
Fact Checked by: Dr. JeFreda R. Brown, Financial Expert
Lendio is an easy-to-use online lender. It takes just 15 minutes to fill out their application and get connected to trustworthy small business lenders. Lendio’s small business loans are offered by more than 74 lending partners and there are more than 10 types of funding options available. With high loan amounts and low minimum credit score requirements, Lendio is a great choice for businesses of all types.
Summarized Ratings
Loan Features3.7
Interest Rates & Fees4.5
Qualification Leniency4.1
Application Process3
Customer Support4
User Reviews4.9
Lendio gets a 3.7 for Loan Features. This above average score reflects a very broad offering of loan terms, fairly flexible loan limits, and accommodative repayment options.
Lendio Reviews - What People Are Saying
Lendio has 4.8 out of 5 stars on Trustpilot and more than 19,000 reviews (89% of which are “excellent”). The majority of positive reviews highlight the professional customer service and holistic experience provided by Lendio. Several highlight the help provided by the funding manager in guiding them through the process.
Of the reviews listed on Trustpilot, the majority of complaints centered around PPP applications. As of May 2021, these were no longer available.
ConsumerAffairs gives Lendio 4 out of 5 stars, with nearly 500 reviews. Five-star reviews rave about the quick funding times and excellent customer service, specifically via the chat feature. Borrowers also rave about the variety of loan options offered by Lendio.
Like Trustpilot, negative reviews seem to be focused on PPP loans, which are no longer being offered.
On the Better Business Bureau (BBB) website, Lendio receives 2.72 out of 5 stars across 122 reviews and an A+ rating. Notably, Lendio closed 186 complaints in the last 3 years and 10 in the last 12 months.
| Positive Reviews | Negative Reviews |
| Customer support and service | Expensive rates |
| User-friendly website | Difficulties with PPP loans (no longer offered) |
| Various types Of funding |
Pros
Cons
Then, you’ll have to estimate your credit score. Lendio allows customers to check their eligibility without it impacting their credit.
Frequently Asked Questions(FAQ)
Which Games Are Available?
This app literally changed my like. It provides a great experience. I absolutely love it!
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Written by: TJ Porter
I have in-depth experience in reviewing financial products such as savings accounts, credit cards, and brokerages, writing how-tos, and answering financial questions both simple and complicated.
More about meReviewed by: Sarah Brooks
Sarah Brooks is a personal finance writer and editor with more than 10 years of experience. She specializes in personal and business loans, mortgages, auto loans, and credit cards.
More about meFact Checked by: Dr. JeFreda R. Brown
Dr. JeFreda R. Brown is more than a financial consultant: she’s an avid teacher and subject matter expert who helps people—individuals and groups in a business setting—master the skills they need to achieve lasting financial wellbeing. As Founder and CEO of Xaris Financial Enterprises, it is her passion and life goal...
More about me