From Time Magazine:

of credit, real estate financing and merchant cash advances. Lendio boasts an easy and fast loan application process, plus no hard credit pull to apply. The company has faced criticism, however, with the Federal Trade Commission (FTC) warning Lendio for misleading claims about providing PPP loans. Lendio may not be the best choice for borrowers who need to make a quick decision, as it may take more time to compare lenders and loan terms. Variable annual revenue and credit requirements add another layer of complexity when assessing eligibility. On the plus side, Lendio can help build your business credit score as they report payments to major credit monitoring bureaus. Customers generally view the lending platform favorably, however, some have reported that the information provided was not accurate compared to actual loan terms offered. See rates on Lendio’s Secure Website >>

In the world of fast business loans, choosing the right lender and loan product is essential. While companies like Fundbox, SBG Funding, Quickbridge, OnDeck and Lendio can provide quick cash-flow injections in as little as 24 hours, borrowers need to be cautious of high interest rates, short repayment schedules and hidden costs. Eligibility requirements, application processes, terms, loan amounts and customer service reviews should be carefully considered before making a decision on fast business loans. With a plethora of options and variables, business owners must approach the application process for fast business loans with caution and research.



Read more: 6 Best Fast Business Loans For Quick Cash