Lendio Small Business Loans review: build your business!
Are you looking for a loan to grow your business? If so, read our post with a Lendio Small Business Loans review to see how this website works!
by Victória Lourenço
Lendio Small Business Loans: diverse funding with low rates!
Looking for a small business loan but don’t know where to start? Look no further! You can read our Lendio Small Business Loans review to learn more!
|APR*||Business line of credit: 8% to 24%;|
Short-term loan: 8% to 36%;
Business term loan: Minimum of 6%;
Business cash advance: Minimum of 18%;
Startup loan: 0% to 17%.
|Loan Purpose||Startup loans, business acquisition loans, business term loans, short-term loans, business lines of credit, business cash advances, and many other loans for small businesses.|
|Loan Amounts*||Business line of credit: $1,000 to $500,000;|
Short-term loan: $25,000 to $700,00;
Business term loan: From $5,000 to $2,000,000;
Business cash advance: From $5,000 to $2,000,000;
Startup loan: From $500 to $750,000.
|Credit Needed||The credit rate depends on the lender and loan type, but most loans are only available for those with a 560 score or higher.|
|Terms||Some of the loan terms available:|
Business line of credit: 1 to 2 years;
Short-term loan: 3 to 10 years;
Business term loan: 1 to 5 years;
Business cash advance: Up to 2 years;
Startup loan: Up to 25 years.
|Origination Fee||It depends on the loan type and lender.|
|Late Fee||It depends on the loan type and lender.|
|Early Payoff Penalty||It depends on the loan type and lender.|
Lendio is a website that connects small business owners with the right lender for their needs. With over 75 lenders to choose from, Lendio has something for everyone.
Interest rates are competitive, and funding is available for various businesses. Check out our Lendio Small Business Loans review below to see if Lendio is the right choice for you!
How do the Lendio Small Business Loans work?
Lendio is an incredibly good website to help you find the business loan your company needs to grow. Also, you can get different loan options depending on your needs.
And you can even find high loan amounts and good and relatively low-interest rates for most loan options.
Lendio Small Business Loans benefits
As we mentioned above, you can find many benefits from this lending website. However, there are also some downsides. So, see the pros and cons below!
- You can get a loan for almost any type of situation on your small business;
- There are many funding options with different rates and high loan amounts;
- This lending website has very good reviews from its customers online.
- There is not much information available about other fees regarding the loan options;
- Not all lenders will be able to give you the loan you need;
- You’ll need a good credit score to get a chance of approval with many of the loan options.
How good does your credit score need to be?
You don’t need to have a really high or excellent credit score to apply for a business loan with this lender. However, you’ll need a credit score of at least 560 or more to qualify for most loans.
How to apply for Lendio Small Business Loans?
You can easily find the best loan option for you on this lending website. You’ll be able to apply online very easily and get a fast response!
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