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Lendio Makes Business Loan Matching Service Free

Lendio announces that its basic service, once $99 a month, is now free for business owners trying to secure small business loans.


SALT LAKE CITY — Capital-seeking business owners can now get matched to the right small business loans nationwide for free through Lendio.com.

In eight months after launching, Lendio, an online company helping business owners find viable business financing, announced today its basic service is free for business owners.

“You can now get matched to the best business loans across the country without paying a cent,” said Brock Blake, Lendio’s chief executive.

Lendio’s basic service used to be a $99 monthly membership.

“We reached a point where we can now offer this service for free,” Blake said. “It’s something we’ve been wanting to do since the beginning, and we finally pulled the trigger. By making it free, it provides a great value for business owners who are in need of capital.”

The basic Lendio membership allows business owners to:

  • Be instantly matched to more than 3,000 loans products
  • Apply for business loans on site
  • Receive loan approval updates in real time

“Basically, people can use us to save a ton of time comparing and applying to multiple lenders,” said Zach Richardson, vice president of product. “In one spot, people can create a membership, compare data about each loan type — like interest rates, loan amounts, time to funding — and then see which loans and lenders will give them the best chance for approval.”

In the last 8 months, Lendio customers have requested more than $4 billion in loans, and approval rates range between 50-70 percent. In the last 30 days, Lendio has added 40 local banks in 35 states, which offers local business loans to most of the country. In addition to the growing base of local community banks, Lendio boasts many national, regional and state-wide lenders.

“We hope this free membership will help qualified businesses that have been struggling to secure financing, obtain the capital they need,” Blake said.

See what Business Financing Options Are Right For You
[button color=”225F97″ size=”xl” link=”http://www.lendio.com/sign_up?mission=lending”]Create a Free Lendio Account[/button]


About Lendio

Lendio makes business loans simple by matching qualified small business owners with active banks, credit unions, and other lending sources. Through a proprietary matching technology, Lendio assists a business owner to identify the business loan category and specific lenders that offer the highest probability for that business owner to prepare for and secure a business loan approval.

Lendio is venture-backed by Highway 12 Ventures and Tribeca Venture Partners. For more information, contact Lendio at press(at)lendio(dot)com.

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About the Author

  • Dan Bischoff

Comments

  1. We are a one doctor Medical clinic, in business since January 2011 in need of a line of credit or microloan in the amount of $40,000 to grow into a break even position, within 4/5 months. currently, clinic income provides about 75% to cover operating costs but we need like a bridge loan to grow its full potential.
    We will appreciate any assistance in finding a small business lender to assist us on this matter.Thank you
    Elias Lara

    • Elias, I just forwarded your information. You can also set up a free profile and be matched to the lenders that would be the best fit for you. There’s a sign up button at the top of the page. Good luck, and let us know how it goes.

  2. Looking to obtain, equipment financing, expansion loan.
    Please contact me.

  3. This is fantastic news. We are a mining company that has been struggling through explorotory costs. We now have a multi million dollar contract. Now all we need is capital to harvest our product.

  4. 1.How to get this Free Soft ware?
    2. We have to import merchandise & distribute. It requires 1/2 M investment. 3 months cycle. Business plan ready.
    Any realiable,tested money lender?

  5. Ok… here’s one for you…
    Will this Free Listing find me the Finance that I am seeking for my Boat Building Company in China? Will it help me fund the purchase of seaside land in a new Marine Park that the Local Chinese Government has offered to sell me (70 Year Lease) and which will double in value in the next 3>5 years?
    Will it help me find funding for my own Boating Development on this land which will have a number of income streams?
    I sure hope so as China is the place to invest at the moment as Boating is the new “must have” thing for the up and coming wealthy Chinese of which I can assure you there are many. I am a New Zealander and have my own Boat Building company in Dalian, NE China where I have lived for 4 years now.
    Get on board, contact me today!

    • William, sounds fascinating, actually. Most of the lenders in our network are located in the United States only lend here. But, there might be some opportunities with peer-to-peer loans, etc. Have you signed up for a Lendio account yet to see if any of our lenders would be a good fit for you?

      • Well to be honest I have tried Registering several times… the software for Registering says my Chinese phone number is invalid and I can’t get past this stage of the process. Also, not being an American or in the USA, I don’t have a Personal Credit Score.
        I have no idea as to what other sections of the process will have a problem with my answers.

  6. Deaf world television, inc. Is seeking seed and startup funding to launch the 1st ever Deaf television channel in the history of media.

  7. need operating capital and expansion funds for franchise

    • Jeff, franchises typically have a good success rate. Many of the lenders in our network offer franchise loans. Sign up for Lendio (there’s a button above) to find which lender will be best for you. Good luck.

  8. I am looking for small business start-up financing . I am wanting to start-up a local coffee lounge and have it located in the Uptown/Downtown area of Dallas Texas.

  9. Are these loans strictly through the business or are these assumed through the owners personal credit?

    • Curtis, it really depends on the type of loan and the specific lender that you’re matched with. Have you created a Lendio profile yet? That will help you find which lender/loan will be the best fit for you from among thousands of lenders.

  10. Ronald DiPietro-DeepSouth Supply, LLC

    deepsouthsupply@gmail.com

    NA

    Veteran owned small business, 7 years in business, needs working capital for inventory and expansion

  11. Looking for financing for a cattle ranch. Posibly a 504 SB? I’m looking for 1.5 million. Can you help?

    • Thomas, we have a lot of lenders that offer SBA 504 loans. Sign up for Lendio, fill out the information, and will match you with the best fit for your ranch. Good luck to you. Let us know how it goes.

  12. I’m seeking funding to purchase more computers and studio equipment in order to complete my sons release of their new album. I’m looking to expand both the record label as well as the management company for both sports and entertainment. Can anyone help?

  13. I have a promotional products company and I am looking for funding to move the company to the next level. Also to be completely honest I do not have great credit.
    Do you think you still have investor that can help.

  14. I have a challenging situation. Currently I have a garden product being distributed to wholesale nurseries, high demand 500,000+ in two years and growing. Presently I’m attempting to distribute to the retail garden centers nationwide….but the garden centers are used to 6 month terms, order now for 2012, I manufacturer, deliver in Feb 2012, I pay all costs they receive terms to pay in June 2012. Unfortunately my credit is not acceptable due to the demands I tried to accommodate. I do not qualify, can you help?

  15. Oh, Lendio, Lendio:

    Thank you my friends! If only, you or another wonderful, company would offer, large ‘Personal” loans, too. Then, we could really make the world spin, again.

  16. Oh, just think, of it. A matching service, for both Business and Personal Loans; this would allow companies, and individuals the opportunity, a safe quick way, to safe lots, of shopping time wasted on and sorting, and weeding out those companies, who were not applicable Oh, what a joyous, pleasant world this would be.

  17. I need private lender for Real Estate start up.
    Thanks.

  18. Seeking working capital…need only as projects are signed..