Lendio, Inc.

Lendio is a business loan marketplace based in Lehi, Utah. It is not a lender itself. Instead, Lendio connects small business owners with a network of over 75 lenders, helping them compare multiple financing options in one place through a single application.

When you apply through Lendio, you fill out one application and Lendio uses that information to match you with lenders who may be willing to offer you financing. You can then compare the offers you receive and choose the one that suits your needs. This can save time compared to applying separately to many different lenders.

Lendio's marketplace includes a wide variety of loan types, including SBA loans, business term loans, business lines of credit, equipment financing, merchant cash advances and commercial real estate loans. The range of lenders in the network includes banks, credit unions, online lenders and SBA-preferred lenders.

Because Lendio is a marketplace rather than a lender, the actual loan terms, rates and eligibility requirements are set by the individual lenders in its network, not by Lendio itself. Lendio typically earns a fee when a loan is successfully funded through its platform.

Lendio can be a useful starting point if you want to explore multiple options without spending hours filling out separate applications. It is particularly helpful for business owners who are new to borrowing or unsure which type of financing is the best fit for their situation.

However, not every lender type will be represented in the marketplace, and the best offer available through Lendio may not necessarily be the best offer available overall. It is worth checking directly with your bank or credit union as well as comparing any Lendio matches before making a final decision.