Lendio

Lendio

Marketplace for small business loans

Overview

Lendio is a financial technology company that operates a loan marketplace for small businesses in the United States. It provides an online platform where business owners fill a single application to access multiple financing options from banks, credit unions, and alternative lenders, including SBA loans, term loans, lines of credit, and equipment financing. Lenders pay Lendio a referral fee when a loan is funded, so the company earns money only when its customers secure financing. The platform simplifies the loan search by quickly connecting borrowers with a wide lender network and presenting tailored options, helping small businesses start, grow, or sustain operations. Lendio differentiates itself through its extensive lender network and a performance-based revenue model that aligns incentives with borrowers. The company's goal is to make it easier for small businesses to obtain affordable funding and support economic growth by streamlining the financing process.

About Lendio

Simplify's Rating
Why Lendio is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Data & Analytics

Fintech

Financial Services

Company Size

201-500

Company Stage

Series E

Total Funding

$107M

Headquarters

Lehi, Utah

Founded

2011

Simplify Jobs

Simplify's Take

What believers are saying

  • Grasshopper Bank launched SBA program on Lendio in April 2025.
  • Q1 2025 SMB Lending Index shows lender optimism surging to 18% very positive.
  • Facilitated over 520,000 loans totaling $17 billion since 2011.

What critics are saying

  • Fundera undercuts referral fees, eroding Lendio margins in 6-12 months.
  • CFPB rules fine Lendio for high-cost cash advances in 12-18 months.
  • Kabbage's AI approvals capture SBA segment 3x faster in 6-12 months.

What makes Lendio unique

  • Lendio's Embedded Marketplace integrates loan solutions with one line of code.
  • Intelligent Lending platform powers AI-driven SBA loans for banks like Grasshopper.
  • 15-minute application matches borrowers to 75+ vetted lenders instantly.

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Funding

Total Funding

$107M

Below

Industry Average

Funded Over

7 Rounds

Series E funding typically includes additional rounds after Series D if the company needs more capital. The business is usually stable, and these rounds are typically used for further expansion or to address market challenges.
Series E Funding Comparison
Below Average

Industry standards

$100M
$245M
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$250M
Reddit
$1.3B
Epic Games
$1.5B
Airbnb

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

0%

2 year growth

-1%
Financial IT
Jul 17th, 2025
Grasshopper Bank Taps Lendio To Power AI-Driven SBA Lending For A New Generation

Grasshopper Bank officially launched its SBA program on Lendio's Intelligent Lending platform in April 2025, and the first SBA deal through the new partnership closed in May.

PR Newswire
Jan 15th, 2025
Lending Index Score Holds Steady At 73 In Q1 2025 From Q4 2024, Depositor Loyalty Up Is For Grabs In Lendio Smb Lending Index

LEHI, Utah, April 9, 2025 /PRNewswire/ -- Lendio's Q1 2025 SMB Lending Index reveals a surge in lender optimism as access to small business capital improves significantly. The percentage of lenders who rated access to capital as "Poor" dropped significantly from 29% in Q3 2024 to just 9%, while "Very Positive" responses nearly doubled, climbing from 8% to 18%

Lendio
Dec 20th, 2024
Warespace Partners with Lendio to Offer Financing Solutions to Entrepreneurial Tenants

Warespace partners with Lendio to offer financing solutions to Entrepreneurial tenants.

PR Newswire
Sep 12th, 2024
Bankwell Financial Group Selects Lendio Intelligent Lending to Facilitate Instant SBA 7(a) Loan Offers

LEHI, Utah, Sept. 12, 2024 /PRNewswire/ - Bankwell Financial Group, Inc. announced a strategic partnership with Lendio.

PR Newswire
Aug 29th, 2024
New Study: Best States To Start A Small Business In 2024

LEHI, Utah, Aug. 29, 2024 /PRNewswire/ -- Today Lendio revealed the results of a study ranking the best states for small businesses. Florida came in as the number one state to start a business with Texas and North Carolina coming in second and third.The rankings were based on an analysis of 10 metrics from government and nonprofit sources and Lendio's internal data including startup survival rates, access to business financing, favorable tax environments, and cost of living.Each of the 50 states ranked.Colorado, South Carolina, Ohio, Georgia, Massachusetts, Utah, and Oklahoma also made the top 10 list. While the states that made the top 10 stayed the same from Lendio's 2023 analysis, there were some shifts in the line-up including Florida edging out Texas for the top spot.Hawaii, New Hampshire, and Nebraska ranked as the bottom three states, due to low business funding and venture capital availability, limited local incentive programs, high tax rates, and high cost of living."Small businesses are a critical part of our economy, but they've faced unprecedented challenges in the past five years from a global pandemic to high interest rates," said Brock Blake, CEO and Co-Founder of Lendio. "Despite these challenges, small business owners continue to fight for their dreams and start new businesses in record-breaking numbers. States that create a favorable business environment will benefit from the influx of small businesses opened in the past year."States with the highest ranking by individual metrics include:5-year survival rate: MinnesotaSBA loans approved/ 100K Population: UtahPopulation: Loan offers received through Lendio's marketplace/ 100K population: Wyomingpopulation: Venture capital/ $1 million GDP: MassachusettsGDP: Lowest corporate tax rate: ArkansasMost business incentives: MarylandGreatest population gains: FloridaMost educated workforce mobility/ 100K population: Coloradopopulation: Lowest housing costs: West VirginiaGreatest personal consumption expenditures: CaliforniaSee the full report for a breakdown of each state and the methodology behind the rankings.About LendioLendio is transforming small business lending by connecting small businesses, lenders, and small business service providers through a single integrated technology platform

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