The Lendio marketplace is designed to help your business find a competitive loan when you don’t have the time or resources to do it on your own. Just fill out Lendio’s quick online application to get matched up to its network of 75+ lenders, or call to speak to a loan officer.
But, if you’re on the fence about Lendio, here are more marketplaces to consider.
Like Lendio, Lendzi is a business loans marketplace that lets you compare 60+ lenders with a single application and no hard credit check. While it's a relative newcomer to the business loans marketplace space, it gets high marks from customers for outstanding service.
Lendzi offers a wide range of long- and short-term loans and, unlike Lendio, doesn’t charge a funding fee for its service. It gets overwhelmingly positive reviews on Trustpilot, Google reviews and the Better Bureau website, which praise the company’s loan officers and service. But rates aren’t disclosed on its website.
Pros
Options for bad credit
Funding in as soon as 24 hours
Direct lender for some loan types
Phone support available
Cons
Rates and fees aren't listed on its website
Full list of lending partners not available
Founders' information hard to find
Loan amount
$5,000 – $20,000,000
APR
Varies by lender
Min. Credit Score
500
Loan term
6 months to 25 years
Requirements
Minimum credit score of 500, minimum annual revenue of $50,000, preferably one to two years in business
Businessloans.com is a highly rated marketplace featuring a simplified form you can fill out in just a few minutes with no hard credit check. Unlike Lendio, there’s no minimum credit score requirement, although your loan options may be more limited if your score is below 500.
However, you won’t find any information about its partner network, and interest rates and fees aren't disclosed. And unlike Lendio, there’s no phone number to call if you need help. But if you're looking for a quick and straightforward way to search multiple lenders online, it's a good place to start your search.
Pros
Good customer reviews
Simplified online form with no hard credit check
All credit types accepted
Cons
Partners not listed
Rates not disclosed
Funding fees not disclosed
No published phone number
Loan amount
$5,000 – $3,000,000
APR
Varies by loan type and lender
Min. Credit Score
500–650, depending on the lender
Loan term
3 months to 10 years
Requirements
Must have been in business between 1 to 2 years, have a minimum revenue of $75,000 to $250,000 and have a minimum credit score of 500 to 650.
Biz2Credit is a loans marketplace geared toward established businesses. It offers fast turnaround term and working capital loans starting at $25,000 and reaching up to $2 million. But you’ll need at least $100,000 in annual revenue to qualify, and it charges an underwriting fee if your loan goes through.
For business owners who stayed open during Covid, it offers Employee Retention Tax Credit (ERTC) loans that can help you access your tax credit funds faster. It also has a commercial real estate backed loan (CRE loan) up to $6 million that you can pay back in interest-only payments over three years.
Pros
Competitive rates
Highly rated by past customers
Flexible payments
Cons
Loan types are limited
No loans under $25,000
Approval can take up to 24 hours
Underwriting fee applies at closing
Loan amount
$25,000 – $6,000,000
APR
Starting at 6.50%
Loan term
12 to 36 months
Requirements
6+ months in business; $100,000+ annual revenue; 600+ credit score
LendingTree is a popular loans marketplace with a whopping 500 lending partners across its different categories. It partners with many of the top names in the business lending space and lets you easily compare loans with a single form – and doesn't charge funding fees if you get a loan though its service.
While it doesn’t disclose its eligibility requirements for business loans, it has a wide network of business lending partners, some of which may accept scores as low as 500. It states that it offers loans to cover small, medium or large expenses, so you’ll have a good chance of getting matched up if you qualify.
Pros
No funding fees
Good ratings on Trustpilot
Options for bad credit
Cons
Not a direct lender
May receive a large volume of marketing communications
Not a dedicated business loans marketplace
Loan amount
Varies by lender and type of financing
APR
Varies
Min. Credit Score
Good to excellent credit
Loan term
Varies by lender and type of financing
Requirements
Varies by lender, but many require good personal credit, minimum annual revenue and minimum time in business
The GoKapital marketplace offers 15 types of short- and long-term loans, including SBA loans, term loans, lines of credit, merchant cash advances and more. And if you’re in a high-risk industry, you may have better luck finding funding through GoKapital than with Lendio.
GoKapital works with high-risk businesses, including cannabis, healthcare and construction. It also doesn't have any personal credit requirements for business owners, and you can get connected in as little as a few minutes — potentially getting funds in as little as one day.
Pros
Only need to be in business for 4 months
High chance of getting connected if you qualify
Available in all 50 states
Cons
Loans start at $50,000
Minimum $20,000 a month revenue requirement
Some high-risk industries excluded
Loan amount
$50,000 – $5,000,000
APR
6% to 18%
Min. Credit Score
500
Requirements
Minimum of $12,500 average monthly revenue. At least four months of business bank account statements.
Kiva is a non-profit microlender that offers small dollar, 0% APR crowdfunded loans to any credit type. But you'll have to have some support from friends — you're required to get at least 10 people you know to contribute to your campaign before it opens to the wider Kiva community.
If that's workable for you, it's one of the best deals in terms of rates. But it’s not the best option if you need cash sooner than later. Funding could take as long as 60 days from the time you submit your application.
Pros
No interest or fees
No credit requirements
Loans as low as $1,000
Cons
Longer turnaround than other loans
No loans over $15,000
Qualifying depends on social network
Loan amount
$1,000 – $15,000
APR
0%
Min. Credit Score
None
Loan term
6 months to 3 years
Requirements
Have at least ten friends and family members willing to contribute to your loan, live in the US, ages 18+, not in bankruptcy or foreclosure, not under any liens, not engaged in: multi-level marketing, direct sales, pure financial investing or illegal activities
Compared to the loan marketplaces on this list, Lendio offers similar loan products and services – although it may have a more extensive partner network than some. But unlike some other marketplaces, it charges a funding fee if your loan goes through — so you should factor this into your decision-making if you’re using a marketplace to find a business loan.
Anna Serio was a lead editor at Finder, specializing in consumer and business financing. A trusted lending expert and former certified commercial loan officer, Anna's written and edited more than 1,000 articles on Finder to help Americans strengthen their financial literacy. Her expertise and analysis on personal, student, business and car loans has been featured in publications like Business Insider, CNBC and Nasdaq, and has appeared on NBC and KADN. Anna holds an MA in Middle Eastern studies from the American University of Beirut and a BA in Creative Writing from Macaulay Honors College at Hunter College, CUNY. See full bio
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Anna has written 181 Finder guides across topics including:
Kat Aoki was a personal finance writer at Finder, specializing in consumer and business lending. She’s written thousands of articles to help consumers make better decisions on their home loans, bank accounts, credit cards, cryptocurrency and more. Kat is well versed in working with leading brands in the real estate, mortgage and personal finance industries, and her expertise has been featured on Forbes Advisor, Lifewire and financial comparison sites like iSelect and realestate.com.au. She holds a BS in business administration from California State University, Sacramento and enjoys hiking and yoga in her spare time. See full bio
Kat's expertise
Kat has written 187 Finder guides across topics including:
BHG Money is a nonbank lender that offers investment, debt consolidation, startup and healthcare-related loans to licensed professionals. Borrow up to $250K with minimal requirements.
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