Lendio Business Loans Review 2022

 At Lendio, we understand that taking out a business loan can be a daunting task. There are so many options and terms to consider, it's hard to know where to start. That's why we've put together this comprehensive review of Lendio Business Loans, one of the leading online lenders for small businesses.

We'll cover everything you need to know about Lendio Business Loans, including loan amounts, terms, fees, and eligibility requirements. We'll also give you our honest opinion on whether we think Lendio is the right lender for your small business.


So let's get started!

What Are Lendio Business Loans?

Lendio Business Loans is an online lender that specializes in small business loans. They offer a variety of loan products, including term loans, SBA loans, lines of credit, and equipment financing.


Lendio is a bit different from other online lenders because they are not direct lenders. Instead, they are a marketplace lender. This means that they work with a network of over 75+ lenders to find the best loan options for their borrowers.


This is a benefit for borrowers because it gives them more loan options to choose from. It's also a benefit for Lendio because it allows them to offer competitive rates and terms.


Lendio Business Loans is headquartered in American Fork, Utah and was founded in 2007. They are a BBB-accredited business with an A+ rating.

Lendio Business Loans Products

As we mentioned earlier, Lendio offers a variety of loan products for small businesses. Here is a brief overview of each loan product:


  • Term Loans: Term loans are traditional loans that are repaid over a fixed period of time, usually 2-5 years. Lendio offers term loans with loan amounts ranging from $5,000 to $5 million.

  • SBA Loans: SBA loans are government-backed loans that typically have lower interest rates and longer repayment terms than traditional bank loans. Lendio offers SBA 7(a) and 504 loans.

  • Lines of Credit: Lines of credit are revolving loans that can be used as needed and repaid over time. Lendio offers lines of credit with loan amounts ranging from $5,000 to $500,000.

  • Equipment Financing: Equipment financing is a type of loan that is used to purchase equipment for your business. Lendio offers equipment financing with loan amounts ranging from $5,000 to $5 million.

Lendio Business Loans Terms and Fees

Lendio offers a variety of loan terms and fees depending on the type of loan you are interested in. Here is a brief overview of the terms and fees for each loan product:


  • Term Loans: The loan terms for Lendio's term loans range from 2-5 years. The interest rates start at 4.99% and there is no prepayment penalty. There is also a one-time origination fee of 2.5% - 4%.

  • SBA Loans: The loan terms for Lendio's SBA loans range from 10-25 years. The interest rates start at 6.5% and there is no prepayment penalty. There is also a one-time origination fee of 2.75%.

  • Lines of Credit: The loan terms for Lendio's lines of credit range from 12-24 months. The interest rates start at 9.99% and there is no prepayment penalty. There is also a one-time origination fee of 0.5% - 4%.

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