What Are The Qualification Requirements With Lendio?

First, you don’t need perfect credit to qualify for a small business loan. Lendio works with businesses of all sizes and in all stages of business, including startups and borrowers with less-than-perfect credit. 

Different loans and financing include varying credit score requirements. For example, SBA 7(a) loans usually require a minimum score of 680, although other financing options are available to applicants with lower credit scores.

To apply, you will need the following documents:

• 3 months of business bank statements (you’ll be given the choice to connect your account or manually upload images)
• A copy of your driver’s license or state ID
• Voided check from your business account
• Proof of business ownership
• Month-to-date transactions

You’ll also be asked to provide:

• The amount of money you want to borrow
• When your business started and some general information about your business
• Your birthday and your social security number

Additional documents may be required later in the process, depending on the type of financing you select. You can learn more about other potential document requirements here.