Fundera vs. Lendio

These lending marketplaces have a lot in common―including their ability to get you a great loan offer.

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You want a lending marketplace that can get you multiple loan offers from one application. This marketplace should give you access to different kinds of business financing, from term loans to lines of credit to merchant cash advances. And the marketplace needs to be trustworthy, with a history of funding small businesses, and you want it to have plenty of positive reviews.

So should you go with Fundera or Lendio? After all, they both meet all those requirements.

To help you decide, we’ll dig deep into Fundera and Lendio. We’ll break down what makes them similar (a lot) and different (not too much). We’ll help you figure out which is better for your needs―or at least help you feel comfortable with whichever one you choose.

Lendio and Fundera’s COVID-19 responses

Before we get into the details about Lendio and Fundera, let’s talk coronavirus.

Tons of small-business owners have been affected by COVID-19. In response, the US government has provided some financing options for business owners. These include SBA economic injury disaster loans and the Paycheck Protection Program (PPP).

Both Fundera and Lendio have updated their websites with plenty of information about both of those programs, as well as other financing options and business resources.

And to make your life even easier, both Lendio and Fundera can help you get your Paycheck Protection Program loan. It’s the same program no matter which one you apply with, with the same rates and rules, so apply with whichever company you prefer.

Apply for a Paycheck Protection Program Loan Now

(If you want a disaster loan, you’ll have to apply through the SBA website.)

Fundera vs. Lendio 101

Let’s start with the basics.

Fundera and Lendio are both lending marketplaces. They are not direct lenders. Neither Lendio nor Fundera actually extend any loans (or other types of financing)―but they partner with lenders that do.

Fundera vs. Lendio
Lender typeLending marketplaceLending marketplace
Lending partnersAt least 17More than 75
Amount fundedOver $1 billionOver $2 billion
Year founded20142011
Term loans
SBA loans
Lines of credit
Invoice financing
Merchant cash advances
Equipment funding
Commercial real estate loans
Personal loans
Other product recommendations
Get a LoanApply NowApply Now
Data effective 3/26/20. At publishing time, offerings are current but subject to change. Offers may not be available in all areas.

But what does that mean, practically speaking? Well, when you fill out your application, Lendio and Fundera take that application and shop it around to their different lending partners.

With any luck, they’ll find a few lenders willing to approve you, and you get multiple loan offers to choose from. You’ll be able to compare things like loan types, loan amounts, and interest rates.

Hopefully, you’ll find a loan offer that you like best. Then you just have to finalize the loan with that lender.

So whether you apply with Lendio or with Fundera, here’s what your loan application process looks like:

  1. Submit an application with the lending marketplace.
  2. Wait for the marketplace to find lenders willing to fund you.
  3. Compare loan offers and choose your favorite.
  4. Finalize your loan application with your chosen lender.
  5. Get your working capital.
Why lending marketplaces?

Lending marketplaces are great for business owners because they let you compare offers and get the best possible deals―but without spending valuable time applying separately to a ton of lenders.

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What makes Lendio and Fundera different

Since they both operate as marketplaces, Lendio and Fundera have a lot in common. But before we cover those commonalities, we want to point out a couple of key differences that set them apart.

Fundera: Best for personal loans

Fundera is a business lending marketplace, but it can help you get a personal loan―for your business. That’s because, for some businesses, personal loans are a good funding option. (Lendio doesn’t offer personal loans.)

For example, young businesses that haven’t been around for very long can have a hard time getting approved for funding. But if you’re applying for a personal loan, the length of time you’ve been in business probably won’t matter. Likewise, businesses that haven’t built up business credit might get rejected for business financing. But with personal loans, your business credit doesn’t matter―just your personal credit score.

Fundera funding options
ProductMin./max. loan sizeLowest listed rateRepayment terms<Get a loan
Business line of credit$10,000/$1 million7%6 mos.–5 yrs.Apply Now
Equipment financing"Up to 100% of equipment value"8%Equipment lifespanApply Now
Invoice financing"Up to 100% of invoice value"3% factor feeN/AApply Now
Merchant cash advances$2,500/$250,0001.14 factor feeN/AApply Now
Personal loansUp to $35,0005.99%3–5 yrs.Apply Now
Short-term loans$2,500/$250,0010%3–18 mos.Apply Now
Startup loansUp to $150,0007.9%6 mos.–4 yrs.Apply Now
Term loans$25,000/$500,0007%1–5 yrs.Apply Now
SBA loans$5,000/$5 million6%5–25 yrs.Apply Now
Data effective 3/26/20. At publishing time, loan specifications are current but subject to change. Offers may not be available in all areas.

Of course, personal loans aren’t ideal for business, or everyone would use them. Personal loans have low maximum loan amounts, and they often have shorter terms and higher interest rates than business loans do.

Still, personal loans can be a valuable source of financing for some businesses. If you think that might be the path for you, then Fundera’s probably your lending marketplace. And who knows? You might get a better business loan offer than you expect.

Apply Now with Fundera

Learn more about Fundera

For more details about Fundera specifically, you can check out our Fundera review.

Lendio: Best for commercial real estate loans

As we said above, both Fundera and Lendio offer many types of business financing, from term loans to accounts receivable financing. They can both meet many, many business needs. But Lendio offers one type of business funding that Fundera doesn’t: commercial real estate loans.

In fact, Fundera’s largest advertised term loans go up to $500,000. That’s not a bad-sized loan, but it won’t be enough for many large commercial purchases.

Lendio funding options
ProductMin./max. loan sizeLowest listed rateRepayment terms<Get a loan
Business line of credit$1,000/$500,0008%1–2 yrs.Apply Now
Commercial mortgage$250,000/$5 million4.25%20–25 yrs.Apply Now
Equipment financing$5,000/$5 million7.5%1–5 yrs.Apply Now
Invoice financing"Up to 80% of receivables"5% factor feeUp to 1 yr.Apply Now
Merchant cash advances$2,500/$200,00018%Up to 2 yrs.Apply Now
Short-term loans$2,500/$500,008%1–3 yrs.Apply Now
Startup loans$500/$750,0000%Up to 25 yrs.Apply Now
Term loans$25,000/$2 million6%1–5 yrs.Apply Now
SBA loansUp to $5 millionPrime10–30 yrs.Apply Now
Data effective 3/26/20. At publishing time, loan specifications are current but subject to change. Offers may not be available in all areas.

Lendio, on the other hand, can get you commercial mortgages that go as high as $5 million (with lengthy loan terms of up to 25 years). These commercial mortgages also have lower starting rates than Fundera’s term loans (4.25% compared to 7%), making them better for those big real estate transactions.

Sure, Fundera could partner with real estate lenders in the future. But for now, if you need a commercial real estate loan, Lendio’s the clear choice.

Apply Now with Lendio

Learn more about Lendio

Get more insight into Lendio by reading our Lendio review.

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What Fundera and Lendio have in common

Now that you’ve got an idea of what sets Fundera and Lendio apart, let’s dig more into what makes them similar. Which is, as it turns out, a lot.

Both Fundera and Lendio partner with a bunch of lenders. They both have a slower funding time than direct lenders do (because matching you with offers takes time). And they both offer many types of loan products, including these:

  • Long-term loans
  • Short-term loans
  • Startup loans
  • Lines of credit
  • Invoice financing
  • Merchant cash advances
  • Equipment financing
  • SBA loans

In other words, Fundera and Lendio work pretty similarly. If you want to compare business loan offers, either one can help. And we’re pretty comfortable with recommending both of them.

Lending partners

Fundera and Lendio both partner with a number of business lenders, though Lendio’s website lists more partnernships than Fundera’s does.

For example, both Lendio and Fundera work with several of our favorite alternative lenders (also known as online lenders):

  • BlueVine
  • Fundbox
  • Funding Circle
  • Kabbage
  • OnDeck

They also both have partnerships with some traditional lenders (banks and credit unions), including Chase and American Express.

The two don’t completely overlap, though. As far as we can tell, Lendio partners with several lenders that Fundera doesn’t, including Lending Club, StreetShares, and Bank of America. And Fundera has some partnerships that Lendio doesn’t, such as Capital One.

Application requirements

When you apply to Lendio or Fundera, they’ll look at things like your credit score, annual revenue, and time in business to match you with loan offers. Different lenders have different requirements. So even if your numbers aren’t ideal, it doesn’t hurt to fill out a 15-minute application.

So if there’s a specific lender you want to consider, you might want to make sure either Lendio or Fundera works with that lender. Or, of course, you can always apply to the lender directly and compare it to other offers from either lending marketplace.

How they make money

If you’ve never encountered a lending marketplace before (and many business owners haven’t), then you might wonder if marketplaces like Lendio and Fundera are, well, on the up-and-up. After all, if they’re not making interest on your loans, what incentive do they have to help you?

Well, we have good news: both Lendio and Fundera are perfectly legitimate.

Online lending marketplaces like Fundera and Lendio make money off of referral fees. You can think of it like a sales commission. They do some matchmaking magic to get you with the right lender, and when you get your loan, the lender pays the online marketplace that referral fee.

And don’t worry―that doesn’t mean that Lendio or Fundera will try to match you with any old loan. Think of this way: It’s in their best interest to get you to take out a loan (because that’s how they get paid). That means they need to match you with a loan that you can actually get and that you actually want.

They may not do a perfect job, and you may not love every loan offer you get. But you can generally assume that marketplaces like Lendio and Fundera are safe, legit ways to compare loan options.

Customer reviews

Both Lendio and Fundera have excellent customer reviews, though Lendio’s skew slightly higher.
On Trustpilot, Lendio has over 2,000 reviews, averaging 4.9 out of 5.1 Fundera’s score is slightly lower (but still very good), with a 4.8 from 640 ratings.2

The two lending marketplaces have similar reviews. Both Fundera and Lendio reviews often praise specific loan reps, the quick funding turnaround, and the ease of the application process.

The few negative reviews for Lendio and Fundera complain about high interest rates on offers, lack of communication, and misleading reps.

Put simply, based on the high number of positive reviews, you’re likely to have a good experience with either Lendio or Fundera.

And for what it’s worth, both Lendio and Fundera have an A+ from the Better Business Bureau.3,4 No government scandals here.

The takeaway

Lendio and Fundera are two lending marketplaces with a lot in common. Sure, there are some small differences: Lendio has slightly better ratings and offers commercial mortgages. Fundera offers personal loans.

But both business loan marketplaces offer plenty of loan products from many lenders. They’re both reputable, well-liked companies.

So honestly, you should feel good about going with either Fundera or Lendio. They can both help you meet your cash flow needs just fine. We like them both, and we think you will too.

No matter which marketplace you choose, make sure you know how to compare your business loan offers with our guide to APR.

At, our research is meant to offer general product and service recommendations. We don’t guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services.

1. Trustpilot, “Lendio
2. Trustpilot, “Fundera
3. Better Business Bureau, “Lendio, Inc.
4. Better Business Bureau, “Fundera

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