This service merely connects clients with lenders; they are not a lender themselves. The lenders they refer are non-bank options. They expect weekly payments, and the interest rate on the loan they proposed was over 130%. The contract was appalling—signing it would have put all my assets at risk, allowing them to demand full payment at any time without reason. The representative misled me, claiming it was common for business loans to have weekly or even daily payment schedules, suggesting it would help my business build credit more quickly. She promised that I could secure a larger loan after five months and further enhance my credit, but it was all deceitful to pressure me into signing. Thankfully, I did not proceed.
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Lendio is transforming small business lending by connecting small businesses, lenders, and small business service providers through a single integrated technology platform. The Lendio Marketplace matches business owners with funding from over 75 lenders and financial partners, all through one simple online application. Lendio’s Embedded Marketplace brings this experience seamlessly to small business service providers’ ecosystems, allowing them to embed a full loan application and funding solution within their platform. For banks and lenders, Lendio’s purpose-built software integrates within their tech stack to automate small business loan decisioning, underwrite applicants, and connect financial institutions with curated applicants from Lendio’s direct and embedded marketplaces. With a single technology platform, Lendio is fueling the dreams of small business owners wherever they seek capital.
Since 2011, Lendio has facilitated more than 400,000 small business loans and other financing options totaling over $16 billion.See more
