FAQs About Lendio

How will I pay back my loan?

The actual cadence and method of your payments will depend on the lender and loan type you choose, as well as factors such as your business history. Typically, the stronger your business and credit, the less frequently you’ll have to make loan payments and the more payment processing options you’ll have.

How does Lendio work?

Lendio makes it easier to get approved for a small business loan. You won’t need nearly as much paperwork to apply. Our online application connects you with more than 75 lenders. The application process is totally free—you only pay when your loan gets funded. Once your application is complete, one of our funding managers will contact you to discuss the best loan option for you.

What Is APR?

APR is a common abbreviation for annual percentage rate, which is the amount of interest accrued on debt held for one year. In other words, your APR is the annual cost of your loan. For example, if you owed $10,000 and your APR were 10%, by the end of the year you would owe $11,000 (assuming you’d made no other payments during that time period).