For most small-business owners, Lendio offers the best payroll financing.
Why? Well, Lendio is a lending marketplace, which you can think of like a loan broker. It partners with dozens of different lenders (more than 75, in fact), all with their own loans. That means that Lendio has many kinds of payroll loans, from invoicing factoring to short-term loans to merchant cash advances. You just have to submit one simple application, and then Lendio helps match you with the right lender and loan.
Depending on your situation, Lendio may come back with more than one loan offer, letting you compare your financing options. That makes it easier to get the best loan possible by picking the one with, say, the lowest interest rate. And once you’ve picked your preferred loan offer, you just have to finalize your application with that lender.
Now, there is one downside to consider. Lendio takes longer than some other lenders on this list, simply because matchmaking takes time. So if you have to make payroll in one or two days, Lendio might be too slow for you. If you’ve got a few days, though, Lendio should work fine.
So with all its lenders and kinds of business credit, Lendio has the best loans for most businesses.