Lendio is a lending marketplace website for small business owners. The website has partnered with a network of lenders that are available to fund business loans on different terms.
Lendio offers one of the largest selections of business loan types I’ve seen including: 1. Lines of credit is like a credit card where you get a limit to which you can borrow continuously.
2. Business credit cards work just like a personal credit card but in your company’s name to build credit. 3. Term loans are generally for established businesses for up to five years’ repayment.
The entire business loan application process took less than half an hour to fill out. The application was a series of questions, one on each screen so borrowers don’t get overwhelmed.
Questions include basic finances like monthly revenue, years in business, type of business, loan amount requested, business assets, why you need a loan and how soon you need the money.