Lendio review: what it actually is, and who it suits

What it is. A funding marketplace based in Lehi, Utah. Its own footer states it plainly: "Lendio is not a lender and does not make credit decisions. Financing terms, conditions, and eligibility are determined solely by the participating lenders." It operates as a licensed broker through Lendio Partners, LLC under California Financing Law licence 60DBO-44694.

What happens to your application. Its terms of use say you agree that Lendio "will share your information with lenders, business financing providers, banks, and brokers" in its marketplace. Lendio also discloses that "compensation may be received from lenders for referrals or funded loans, which may impact the placement of financing offers." If you apply, plan on hearing from several companies.

What it offers

Through its network: lines of credit, short-term and term loans, SBA, revenue-based financing, equipment financing, accounts receivable financing, commercial mortgages, startup and acquisition loans, and business credit cards. Lendio's own page notes that revenue-based financing is "sometimes called a merchant cash advance".

Requirements, and a caution

Lendio's own pages give three different answers, so treat any single figure with care. Its small business loans page shows six months in business, $8,000 a month in revenue and partner credit scores of 550 to 700. Its requirements guide says "at least six months in business" and "a minimum of a 500+ credit score". Its revenue-based financing page says $10,000 a month and three months in business. Because the funding comes from partners, the real answer is whichever partner takes your file.

Amounts, speed and what it says about cost

Its published matrix runs from $1,000 lines of credit to $5 million commercial mortgages, with most products listed as funding in 24 hours to two days and SBA at one to three months. The rate column shows figures like "as Low as 8%" and an 8% to 60% band on lines of credit, but none of them is labelled as an APR or a factor rate, which makes them difficult to compare with anything. Lendio does not publish a broker fee schedule.

Reputation

Better Business Bureau: A+, accredited since August 2021, with 21 complaints closed in three years. Trustpilot: 4.5 across roughly 21,900 reviews, one of the largest review bases in the category. Checked 21 September 2026.

In May 2020 the FTC and SBA sent Lendio a joint warning letter about PPP marketing that "could lead consumers to believe they are affiliated with the SBA". It was a warning letter only, with no enforcement action, consent order or settlement, and no CFPB matter. Worth knowing, not worth overstating. Lendio is also frequently confused with Lendistry, an unrelated company.

Who it suits

A difficult file. If you have been declined a few times, reaching many funders at once has genuine value.
Shopping products, not just prices. SBA, equipment and commercial mortgages all sit alongside short-term money in one place.
Owners who do not mind the phone. This is the trade.

Who it does not

Anyone who wants one relationship. A direct funder gives you one file, one underwriter, one number to call.
Anyone comparing true cost. With unlabelled percentages and partner-set terms, you cannot compare anything until the offers arrive.

Before you apply anywhere, read which of these companies actually lend and what a broker charges and who pays it.

All quotes and figures are from lendio.com, its terms of use, BBB and Trustpilot, checked 21 September 2026.

Questions owners ask

Is Lendio a direct lender?

No. Its own footer says it is not a lender and does not make credit decisions. Funding comes from partners in its marketplace.

Does Lendio charge me a fee?

It does not publish a borrower fee schedule. It discloses that it may be compensated by lenders for referrals or funded loans, which can affect how offers are placed.

How many companies will contact me?

Lendio does not publish a number. Its terms allow sharing with lenders, funders, banks and brokers, so ask before you submit how many will receive your file.

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General information, not financial or legal advice. Terms vary by lender and business.