Overview
Fundera
$5 Million
1 Day
N/A
N/A
12 Years
Lendio
$5 Million
1 Day
N/A
N/A
15 Years
Ratings
Fundera
Lendio
Reviews
Fundera
Reviews
Lendio
Reviews for Fundera
Helpful Favorable Review
CCOB
December 30th, 2021
Bozeman, MT
DETAILS
Review Source
This is not a reflection of Joe, my rep or Stevie, my contact at one of your partners. My issue comes from the promises of LARGE SUMS for 4.99%...I feel it is very misleading. I know you put "up to" and "starting at" but, honestly, how many people looking for fast funding in large sums qualify for those rates? None. I only completed this last transaction because Joe has always tried for me and Stevie was VERY upfront about what she could secure and at what rate.
Helpful Critical Review
Sharel Felger
July 12th, 2021
Huntington Beach, CA
I keep getting emails from this company telling me I have been funded- but I never applied for a loan with Fundera. No one will respond to my emails and there is no way to contact by phone. they say there is a chat on their website but I am unable to find it. I am concerned there has been fraudulent activity ! How do I get a response from Fundera?!!
Reviews for Lendio
Helpful Favorable Review
Dung giap
March 26th, 2021
Westminster, CA
First of all I said thanks to our agent that helping me when I need very highly appreciate itIn a time like this when I have a difficult time and struggling an agent from lending help ing me that’s what I like about the Lendio a lot you got to take care of business everything paperwork moving so fast so quick that I never thought of. Once again thank you to all lendio agents. And he asked me what I dislike about lendio. Well in my dictionary I don’t have that work dislike. The only word that I can find in there is appreciation thank you once agains !!!
Helpful Critical Review
ACE KIM
May 10th, 2021
Honolulu, HI
DETAILS
It's the worst company I've ever had in… It's the worst company I've ever had in America. The company delayed my loan application for four months, changing managers, and now handed it over to a partner company. I am really disappointed that there are still companies that do this kind of service. If you want a business loan, contact your bank or other lender. I never recommend this company.
The Final Word
Both Fundera and Lendio are excellent options for all types of loan products, loan amounts, and loan purposes. Most importantly, customer reviews are largely positive for both of these companies.
The differences between the two companies are minor, but may play into your decision, so we'll review where the companies stand in regards to some additional aspects.
Partner Network Size
Both companies are committed to helping each business owner identify financing options through a lender or multiple lenders that work for their situation.
Fundera works with 20 online lenders in its partner network to facilitate a variety of business loans for borrowers. Lendio offers loan options from more than 75 alternative lenders.
Keep in mind that neither company can make promises about rates or fees because they are not setting the terms for the loan offers.
Loan Types
Fundera's available loan options include the following:
- SBA loan
- Business line of credit
- Term loan
- Startup loan
- Equipment financing
- Invoice financing
Lendio has an edge over Fundera in regards to loan types as it offers all of the above loan products plus the following:
- Merchant Cash Advances
- Business credit cards
- Commercial mortgages
- Business acquisition loans
Eligibility Requirements
Fundera applicants need a minimum personal FICO score of 550. Lendio doesn't specify a minimum credit score, but states that prospective borrowers with less-than-perfect credit can qualify for a business loan.
Whether you work with Lendio or Fundera, your loan term, interest rate, and financing options depend on your personal and business financials as a small business owner, including FICO score.
