Yes, we will email you a copy to download after your initial franchise info call. Please be aware that once you have received our FDD that franchise law requires you to review and wait no less than 16 days before moving forward.
Yes, our process for getting you in touch with existing Lendio franchise owners is that you have read through the FDD and have spoken with a Lendio staff member regarding any question, we then notify existing owners of your interests and place you in contact.
You earn income by finding small business owners in need of a loan and helping them get funding through Lendio’s platform; once funded you earn a 70/30 commission split on the loan you helped facilitate. You also can make income when a small business owner you brought to Lendio renews their loan.
The cost varies depending on the size of the territory you purchase. The total net worth requirement is $55k – $65k in liquid capital. There are a few fees you pay as part of the Lendio Franchise including a branding fee, technology fee, etc. All fees are explained in detail in our franchise disclosure document.
The Lendio Franchise agreement is for 5 years.
Each territory is created to reflect roughly 20K- 25K small business owner populations. Because of this, some territories will be larger than others from a geographic perspective.
Our franchisees enjoy an intensive 5-day training with our team at the corporate headquarters in Utah. Additional role play and hands-on coaching play a crucial role in the ongoing success of our franchisees once they get settled in their local territory. We have an interactive franchise library, video learning software, and playbook available online to deliver additional support to get our franchisees quickly up to speed.
Lendio does not require a physical location. You may operate your franchise from your home office or rent an office space if you prefer.
Most of Lendio’s network of partner lenders do not offer financing options specific to purchasing a franchise. However, there are a select few lenders that may be able to offer you a loan that could be used in purchasing a franchise. Additionally, you do receive a price break on each additional franchise territory you purchase. We also offer a 10% discount to those individuals who have served in the military.
Yes, besides offering excellent lending options Lendio is excited to announce the availability of bookkeeping software and services through Sunrise by Lendio. Additionally, many of our franchise owners own ancillary businesses that compliment Lendio’s products and services.
Because we are a franchisor we are regulated by the Federal Trade Commission and as such we cannot make any direct financial claims. However, your income is determined by your ability to follow the procedures and training we provide as well as your willingness to go out into your community and find the business owners in need of funding.