Lendio

Founded in 2011, Lendio has revolutionized the business funding landscape by creating a comprehensive marketplace that connects small business owners with multiple lenders through a single application process. The company has facilitated over $12 billion in business loans to more than 300,000 small businesses across the United States. Instead of being a direct lender, Lendio leverages its extensive network of 75+ funding partners to help entrepreneurs find the right funding solution for their specific business needs.

Lendio's platform stands out for its diverse array of loan products, accommodating businesses at various stages and with different credit profiles. Their funding options include SBA loans, term loans, lines of credit, equipment financing, commercial mortgages, startup loans, merchant cash advances, and more. Loan amounts range from $5,000 to $5 million, with terms extending from 1 to 25 years depending on the loan type. What makes Lendio particularly accessible is its minimum credit score requirement of 550 for certain loan products, making funding available to business owners who might be turned away by traditional banks.

The application process is streamlined and efficient, typically taking just 15 minutes to complete online. Once submitted, Lendio's technology matches the business with appropriate lenders and loan options, while a dedicated funding manager provides personalized guidance throughout the process. This high-touch service approach, combined with the ability to compare multiple offers, allows business owners to make informed decisions without the stress of submitting multiple applications. Funding can be secured in as little as 24 hours, though more complex loan types like SBA loans may take 2-7 days or longer. Lendio's innovation lies in creating transparency in the lending process while removing traditional barriers to capital access for small businesses.