Lendio Reviews: Loan Requirements, Pros & Cons - Complete 2025 Guide
Get prequalified and compare loan offers in as little as 24 hours.
Offers diverse selection of business loan products through their partnered lenders.
Business Credit Card: Functions as a revolving line of credit, providing flexibility to spend, repay, and borrow.
Trisha Smith
5 months ago
Working with Mike Kowal was truly an exceptional experience from start to finish. He was personable, highly responsive, and consistently communicative, taking the time to educate me throughout the entire process so I fully understood what was happening at every step.
What truly set Mike apart was his honesty. He reviewed multiple lender options with me in a fair, transparent way, walking me through the pros and cons of each and helping me understand every angle. He encouraged me to move forward only with what felt right for my business, never once making me feel pressured to choose him or Upwise. That level of professionalism is rare.
Mike also worked hard to build genuine personal rapport — something no other representative I spoke with did. He took the time to understand my business, explored different paths, and made sure I felt confident and comfortable throughout the decision-making process.
The follow-up from Mike and every member of his team has been above and beyond anything I’ve experienced with other lenders. Every interaction feels thoughtful, client-focused, supportive and most important- genuine. I’m incredibly grateful for the experience and would confidently recommend Mike to anyone looking for a knowledgeable, ethical, and truly client-first lending partner.
What truly set Mike apart was his honesty. He reviewed multiple lender options with me in a fair, transparent way, walking me through the pros and cons of each and helping me understand every angle. He encouraged me to move forward only with what felt right for my business, never once making me feel pressured to choose him or Upwise. That level of professionalism is rare.
Mike also worked hard to build genuine personal rapport — something no other representative I spoke with did. He took the time to understand my business, explored different paths, and made sure I felt confident and comfortable throughout the decision-making process.
The follow-up from Mike and every member of his team has been above and beyond anything I’ve experienced with other lenders. Every interaction feels thoughtful, client-focused, supportive and most important- genuine. I’m incredibly grateful for the experience and would confidently recommend Mike to anyone looking for a knowledgeable, ethical, and truly client-first lending partner.
HMP Wholesale
6 months ago
Convenient and aggressively priced rates - beats the market. Craig was great at speeding up the process and making it smooth.
brandon banks
6 months ago
I was able to secure a business loan in an industry that typically has a hard time getting approved. Craig and the team at Upwise made it happen from start to finish. Professional, responsive, and results-driven. A+ experience all around!
Stephanie Terrelonge
8 months ago
Upwise Capital and Daniel Joseph were great in helping me obtain financing and grow my janitorial business. Mr. Joseph is quick, efficient and professional. Funding was complete in just a few hours. Daniel is very detailed and easy to work with. He stuck with me from beginning to end. Thank you Upwise Capital and Daniel for helping to expand my business. I appreciate all your help.
AA Fishing Charter Aquaholics Aknotymous
9 months ago
The rates for loans are horrible, and if you disagree with them, they get angry and hang up on you lol. It is clear they are in business to get the best deal for themselves, not the customer. Leo Lamb, one of their funding managers comes across like a used car salesman. When I called them out for their shady practices, he got very aggravated.
Update: Leo contacted me, and after basically insulting me concerning their prior behavior, I decided to let them run my application. After being ghosted for the day, they finally came back and denied due to another loan my business was involved in. These people get their feelings hurt way to easy to be in this business. I would not recommend this company to anyone.
Update: Leo contacted me, and after basically insulting me concerning their prior behavior, I decided to let them run my application. After being ghosted for the day, they finally came back and denied due to another loan my business was involved in. These people get their feelings hurt way to easy to be in this business. I would not recommend this company to anyone.
Stacy Aleixo
11 months ago
The process was very simple and fast! Craig is a pro and helped so much during what I thought would be a stressful transaction. As we know it’s so hard to receive funding for cannabis, or so I thought! I highly recommend Upwise Capital.
Jonathan F
2 years ago
Timely efficient, def would work with again, made the processs easy
Hatchet's & More
2 years ago
ETC 4 DISPATCH Logistics
2 years ago
Absolutely great customer service. Jim is such a professional and was able to get us funding. Thanks Jim and Upwise Capital.
Nothing But Hemp
2 years ago
Donna Essner
2 years ago
Craig went above and beyond to get this deal done! I would highly recommend UpWise Capital if you're looking for a broker to get investors onboard.
Merideth Cann
2 years ago
Leo provided a very quick turn around and is a pleasure to work with !
Alba De La Cruz
2 years ago
I worked with Leo. He is very attentive and professional.
Mohamed Khanafer
3 years ago
Craig made himself available all the time, he was very attentive, professional and easy to work with. Highly recommend!
Tammy Sockwell
3 years ago
We worked with Leo for our line of credit. We are a trucking company an can be a challenge to secure financing. The process was smooth and fast funding. Our only complaint would be that Leo was a little impatience when it came to our decision making. We are very thankful for the funding and would do business with them again. Thanks,
Upwise
Upwise
Sharon Johnson
3 years ago
Leo got us a line of credit loan very quickly to help with expenses we incurred during our new business building purchase.
Mike Maffei
3 years ago
You are always hesitant when working with a finance firm to borrow money to grow your company But, I highly recommend Upwise Capital. Lou and Marc went out of their way to ensure everything was taken care of. Very professional in all steps taken to secure the financing I needed. I look forward to continuing the business relationship.
Niyetroshia Thomas
4 years ago
I rarely write reviews, but my experience with Leo was absolutely. Leo was patient, knowledgeable, and extremely responsive. During a hectic work week he continued to bare with me to be sure that i had all the information I was requesting. He got me the capital I needed within one day. I highly recommend this company!
Lendio at a Glance Key Features and Services
solutions tailored to their needs. Unlike traditional bank loans, Lendio simplifies the process by allowing businesses to apply once and access funding offers from its network of over 75 lending partners. Whether you’re looking for short-term loans, business line of credit, equipment financing, or SBA loans, Lendio provides access to business funding options that fit your unique requirements. With over $15 billion funded to more than 400,000 businesses, Lendio has established itself as a trusted platform for small business financing.
Quick Facts About Lendio:
- Founded: 2011
- Loan Products: Business term loans, SBA loans, lines of credit, invoice factoring, equipment financing, and more.
- Loan Amounts: $5,000 to $5,000,000
- Funding Speed: As fast as 24 hours
- BBB Rating: A+
What You’ll Learn in This Review:
- What is Lendio?
- How does Lendio work?
- Loan products, terms, and eligibility requirements
- Pros, cons, and comparisons with other lenders
- Frequently Asked Questions (FAQs)
What is Lendio
Lendio is an online loan marketplace that simplifies the process of obtaining business loans by connecting borrowers with multiple lenders through a single application. Their platform offers a variety of loan types, ranging from business term loans and merchant cash advances to SBA loans and equipment financing. Lendio is designed to help small businesses access the funding they need to grow, even if they don’t qualify for traditional bank loans.
Available Loan Products:
- Business Term Loans: A business term loan is a financing option where a specific amount is borrowed for a set period and paid back with interest at regular intervals. It features fixed repayment schedules for predictable cash flow management.
- SBA Loans: Government-backed loans with competitive rates and long terms.
- Merchant Cash Advances: Quick funding based on future sales for businesses with strong revenue.
- Invoice Factoring and Financing: Unlock cash tied up in unpaid invoices.
- Equipment Financing: Loans for purchasing or leasing equipment.
Industries They Serve:
Lendio works with businesses in a variety of industries, including:
- Construction
- Healthcare
- Restaurants
- Retail
- Trucking
Lendio How it works?
Lendio acts as a loan marketplace, connecting small business owners with its network of 75+ lenders to find the best financing solution for their needs. Their online application eliminates the need to apply to multiple lenders individually, saving time and effort. Once you submit your application, Lendio matches you with lenders based on your business needs, credit profile, and other factors in the loan process.
Key Features of Lendio’s Process:
- One Application, Multiple Offers: Submit a single application to access funding offers from numerous lenders.
- Fast Prequalification: Get prequalified for loans in as little as 24 hours.
- Dedicated Support: Work with a Lendio funding manager to review your options.
This streamlined approach ensures small business owners can compare loan offers and choose the best option for their goals.
Lendio Loan Products
Lendio
Business Term Loans
- Loan Amounts: $5,000 to $2,000,000
- Repayment Terms: 1–5 years
- Uses: Expansion, payroll, inventory, or operational expenses.
Business term loans provide predictable monthly payments, making them ideal for businesses with steady cash flow.
Lendio
SBA Loans
- Loan Amounts: Up to $5,000,000
- Repayment Terms: Up to 25 years
- Uses: Real estate, equipment, working capital, or debt refinancing.
SBA loans offer low-interest rates and long repayment terms, making them a great option for established businesses.
Lendio
Merchant Cash Advances
- Loan Amounts: $5,000 to $500,000
- Repayment Terms: Based on future sales.
- Uses: Covering short-term expenses or bridging cash flow gaps.
This option is ideal for businesses with strong monthly revenue but limited credit history. Merchant Cash Advances, or merchant cash advance, provide quick funding based on future sales, making them accessible for businesses with lower credit scores compared to traditional loans.
Lendio
Equipment Financing
- Loan Amounts: Up to $5,000,000
- Repayment Terms: Tailored to the equipment’s lifespan.
- Uses: Purchasing or leasing machinery, vehicles, or technology.
Equipment financing ensures businesses can acquire the tools they need without large upfront costs.
Lendio
Invoice Factoring and Financing
- Loan Amounts: Up to 90% of invoice value.
- Uses: Improving cash flow by unlocking funds tied up in unpaid invoices.
This option is ideal for businesses with reliable clients but long payment terms.
Lendio Requirements
Here is the basic criteria your business must meet for Lendio requirements:
- Annual Revenue: Minimum $50,000 in most cases.
- Time in Business: At least 6 months preferred.
- Credit Score: No minimum required; varies by loan type and personal credit score.
- Required Documentation: Bank statements, tax returns, and proof of revenue.
What you Need to Know
A few things to know when considering Lendio business loans:
- No fees to apply; lenders may charge origination fees or other costs.
- Varies by lender; some loans allow early repayment without penalties.
- Flexible terms ranging from 3 months to 25 years, depending on loan type.
How to Apply to Lendio
Lendio Application Process
Step 1: Complete the Online Application
- Visit the Lendio website and fill out the application.
- Provide basic business details, including annual revenue and loan purpose.
Step 2: Compare Loan Offers
- Lendio matches your application with multiple lenders.
- Review offers and compare terms, interest rates, loan or business credit, and repayment options.
Step 3: Accept the Loan Offer
- Choose the loan that best fits your needs.
- Funds are typically deposited in your bank account within 24–72 hours.
Pros & Cons of Lendio
PROS
CONS
Apply Now for Business Financing
- Access term loans, lines of credit, working capital & more
- Secure the terms and conditions that make sense for you
- Apply for working capital and cash flow funding to cover inventory, marketing and operations
Stay ahead of the curve - get access today!
Upgrade your capabilities with specialized financing for almost any industry.
Why Choose Upwise Capital
Quick & easy application
Our simple 15-minute application gets you on your way to funding quickly. Most applicants receive a fast decision within hours of applying. Then just choose your loan terms and you could have funds deposited into your account as soon as 24 hours.
Ensure you make the wise choice
Every Upwise applicant gets a dedicated funding advisor who takes the time to understand your business and it's unique needs. We are here for your support throughout the entire funding process.
Access multiple financing options
Upwise has an extensive product suite and a network of business line of credit lenders. This means you're more likely to find the best match for your funding needs.
Is Lendio Legit?
Yes, Lendio is a legitimate loan marketplace with an A+ rating from the Better Business Bureau. They have helped over 400,000 businesses secure funding, making them a trusted resource for small business loans.
If Lendio doesn’t meet your business needs, consider exploring Upwise Capital for alternative financing options tailored to your goals.
Lendio Frequently Asked Questions - FAQ
What other lenders compare to Lendio?
- Fundera: Similar loan marketplace with a focus on SBA loans and business term loans.
- BlueVine: Specializes in invoice factoring and lines of credit for cash flow management.
- OnDeck: Offers short-term loans and lines of credit, but with higher credit score requirements.
What Happens After Applying with Lendio?
After submitting your application, Lendio matches you with lenders in their network. You’ll receive multiple loan offers to compare and can choose the best option for your business.
Does Lendio report to credit bureaus?
Lendio itself does not report to credit bureaus, but the lender you choose may report your loan activity.
How do I manage my loan with Lendio?
Loan management is handled through the lender you select. Lendio provides support during the application process but not after funding is disbursed.
What is the customer experience like with Lendio?
Lendio reviews highlight their customer service and fast funding process. Many small business owners praise the platform for its ease of use and ability to connect them with multiple lenders. However, some complaints mention higher interest rates for certain short-term loans.
Testimonials:
- “Lendio made the entire process easy and stress-free. Highly recommend!” – Heather B.
- “I was matched with multiple loan offers in just a few hours. The Lendio team did an amazing job!” – Robert T.
Lendio Final Verdict
Who Should Consider Lendio?
Lendio is a great option for small business owners who want access to multiple financing options in one place. It’s especially helpful for businesses with limited credit history that may benefit from alternative funding solutions like merchant cash advances or invoice factoring. Additionally, companies looking for fast funding will appreciate Lendio’s streamlined process and quick turnaround times.
Who Should Look Elsewhere?
Businesses that require long-term, low-interest loans directly from a single lender may not find Lendio to be the best fit. Similarly, startups without a revenue history might struggle to qualify for financing through the platform, as many options require established business performance.
Tips for Success with Lendio
- Have your bank statements, tax returns, and revenue details ready before applying.
- Use Lendio’s platform to compare multiple offers and choose the best option.
- Understand the terms of your loan, including origination fees and interest rates, before accepting.
- Focus on improving your credit score to qualify for better rates in the future.
Disclaimer:Â Lendio trademark is owned by Lendio Partners, LLC, LLC dba Lendio. Its use herein is for reference purposes only. This does not indicate sponsorship or endorsement from Lendio Partners, LLC.