Lendio has the best online loan options for most businesses.
That’s largely because Lendio isn’t actually a lender at all―it’s a lending platform that lets you compare loan offers and shop around for the best loan (a.k.a. a lending marketplace). You only have to submit one loan application to get connected to Lendio’s network of lending partners, and your Lendio lending specialist will do the shopping around for you.
As you can imagine, shopping around for loans lets you get better interest rates (or loan amounts or repayment terms, depending on your priorities) with less work on your part. Because rather than submit loan application after loan application to try to compare rates and terms, Lendio does all that for you.
And Lendio has plenty of lenders and loans to choose from. Its network of more than 75 lending partners includes all kinds of loan options:
- Installment loans
- Lines of credit
- Commercial real estate loans
- Merchant cash advances
- Loans for debt consolidation
- And more
So no matter your financing needs, Lendio can connect you with the right product. (It doesn’t have any personal loans for business, though.)
Not very fast: The one downside you need to know about? Shopping around takes time. Lendio, at its fastest, can get you funded in maybe 48 hours. And it can easily take a day (or several) more than that. Since direct lenders often offer same-day approval and next-day funding, Lendio definitely isn’t the fastest online lender out there.
Still, the slowdown is a small price to pay for personalized loan offers. So for most business owners, we recommend getting your online loan through Lendio.