Does Lendio make the lending decision?

No. Lendio states it is not a lender and does not make credit decisions. Financing terms, conditions and eligibility are determined solely by the participating lenders and vary with the applicant's qualifications and the type and location of the business.

Will applying affect my credit score?

Filling out an application and submitting it to Lendio's funding partners does not impact personal credit. Depending on the product and lender, accepting a funding offer may result in a hard credit inquiry, which can affect the score.

Debt marketplaces

Lendio

Lendio is a small business financing marketplace. One application is shopped across a network of funding partners offering SBA loans, term loans, lines of credit and equipment financing, in amounts the site's own intake ranges from under $5,000 to over $1 million.

Borrowers apply online and are matched with offers. Lendio states that submitting an application does not affect personal credit, though accepting an offer may trigger a hard inquiry, and that funding can arrive in as little as 24 hours depending on the product and lender. Two business-to-business products sit alongside the consumer marketplace: an embedded financing marketplace partners can add to their own platform, and lending technology sold to banks and credit unions.

The company was founded in 2011 and is based in Lehi, Utah. It reports more than $17 billion in small business funding and over 520,000 businesses funded. It carries NMLS ID 1998423, and California loans are made through Lendio Partners, LLC under California Financing Law License No. 60DBO-44694.

Lendio says plainly that it is not a lender and does not make credit decisions: terms and eligibility are set by the participating lenders, not all market options are listed on the platform, and Lendio may be paid by lenders for referrals or funded loans, which can affect where offers are placed. Read the lender's own disclosures before signing.

Best for

Operators who want one application shopped to many small business lenders. Not a source of commercial mortgage or acquisition debt on a park or property.

What they do

SBA loans
Business term loans
Business lines of credit
Equipment financing
Business bank account
Embedded financing marketplace for platforms
Lending technology for banks and credit unions

Details

Attribute	Value
Founded	2011
Licenses	NMLS ID 1998423, California Financing Law License No. 60DBO-44694 (Lendio Partners, LLC)
How they charge	The site advertises no hidden fees to the borrower; Lendio may be compensated by lenders for referrals or funded loans.

What stands out

Reports more than $17 billion in small business funding and over 520,000 businesses funded.
Carries NMLS ID 1998423; California loans are made through Lendio Partners, LLC under license 60DBO-44694.
States funding can arrive in as little as 24 hours, depending on the product and lender.
Applying does not affect personal credit; accepting an offer may trigger a hard inquiry.

Common questions

Does Lendio make the lending decision?: No. Lendio states it is not a lender and does not make credit decisions. Financing terms, conditions and eligibility are determined solely by the participating lenders and vary with the applicant's qualifications and the type and location of the business.
Will applying affect my credit score?: Filling out an application and submitting it to Lendio's funding partners does not impact personal credit. Depending on the product and lender, accepting a funding offer may result in a hard credit inquiry, which can affect the score.