Lendio is a perfect marketplace offering start-up loans to small businesses. They have reasonable payment terms of up to twenty-five years for their start-up loans. As a marketplace, it does not lend money directly. Instead, Lendio partners with over 75 lenders that help borrowers get their loans for their businesses. The established strong network of lenders offers the best lending platform with high-rated services.
Lendio offers a wide range of loans. They include business start-ups, equipment financing, and short-term loans, among many others. However, the downside is that the chief loan type, start-up loan, is not offered by all lenders. It is also worth noting that the qualifications for funding vary from one lender to another.
Lendio’s network of loan lenders includes America Express, Bank of America, Mulligan Funding, On Deck Capital, Fund box, and Funding Circle, to name a few. The loan application process is simple and swift. Borrowers can make an online application and receive their funds within 24 hours. The funding period depends on the funding type. Depending on the lender, collateral can be in the form of personal assets or business.