Lendio: A Small Business Loan Marketplace

 Lendio is a financial technology company focused on helping small businesses find and compare financing options. Founded and headquartered in Utah, it operates in the online lending marketplace space rather than as a traditional bank.

Instead of issuing loans directly, Lendio connects business owners with a network of lenders. Its platform is designed to simplify the process of finding funding, especially for businesses that may not know where to start or want to compare multiple options in one place.

Lendio matters because it sits at an important point in the financial ecosystem: it helps bridge the gap between small businesses and lenders. For many businesses, access to capital is one of the biggest challenges, and platforms like Lendio aim to make that process more accessible and efficient.

Website: www.lendio.com

Growth

Lendio was founded in 2011 by Brock Blake and Trent Miskin, evolving from earlier projects like FundingUtah in 2006 which later became FundingUniverse.

The company started with the goal of making small business financing easier to access and compare online. After launching, Lendio facilitated its first loans in 2013 and began scaling quickly as more businesses looked for digital ways to access funding.

As it grew, Lendio expanded its team, lender network, and geographic reach. In 2019, it moved its headquarters from South Jordan to Lehi, Utah, reflecting its continued growth and expansion.

Over time, Lendio developed into a national platform, helping tens of thousands of small businesses access billions in funding through its marketplace.

What Lendio Does

Lendio operates as a loan marketplace platform that connects small businesses with lenders.

It is important to understand that Lendio is not a bank and not a direct lender. Instead of providing loans itself, it allows businesses to submit one application and get matched with multiple financing options from its network of lenders.

Through this model, Lendio helps reduce the time and effort required to search for funding. Businesses can compare loan types, terms, and potential offers in one place, rather than applying separately with multiple institutions.

This places Lendio within the broader lending technology ecosystem, where platforms focus on improving how businesses access and compare financing options. For a deeper explanation, see Small Business Loan Marketplaces: Lending Innovation Models.

Once a loan is approved and funded, platforms like LoanPro help lenders manage loan servicing, payments, and balances behind the scenes.

Main Products and Services

Lendio.com | Small business loans

Lendio focuses on helping businesses access different types of financing through its marketplace.

Its platform typically includes:

• Term loans
• Business lines of credit
• SBA loans
• Equipment financing
• Invoice financing
• Merchant cash advances

The goal is not just to offer these products, but to allow businesses to compare multiple financing options in one place. This makes it easier to evaluate different funding types based on needs such as flexibility, repayment structure, and speed.

Lendio also provides guidance through the application process, helping businesses navigate available options and connect with lenders that fit their profile.

Companies Using Lendio

Lendio is primarily used by small business owners looking for financing.

This includes:

• Startups that need initial capital
• Established businesses seeking expansion funding
• Businesses managing cash flow gaps

On the other side of the platform, Lendio works with a network of lenders, which can include:

• Banks
• Online lenders
• Alternative financing providers

Because of this structure, Lendio acts as a bridge between businesses and lenders, rather than serving as a direct provider of funding.

Its focus is on helping everyday businesses—often referred to as Main Street businesses—access financing options more efficiently.

Competitors

Lendio operates in a competitive segment of fintech focused on small business lending and financing access.

Its competitors include several loan marketplaces and platforms that help businesses compare financing options:

• BusinessLoans.com
• Fundera
• LendingTree
• Lendzi
• Nav (Read our full Nav profile)

These platforms focus on matching businesses with multiple lenders, allowing users to compare financing options in one place. Lendio’s main distinction is its emphasis on aggregation and comparison, helping businesses evaluate multiple loan options through a single application.

Platform, Access, and Business Model

Lendio operates as a digital marketplace platform that connects small businesses with lenders.

Businesses access the platform by completing a single online application, which is then used to match them with potential financing options. Instead of applying to multiple lenders separately, users can review and compare offers in one place.

Lendio follows a B2B2C model, which simply means it connects two groups:

• It works with lenders (businesses)
• It serves small business owners (customers)

In other words, Lendio is the middle platform between lenders and borrowers. It doesn’t provide the money itself — it helps connect the two sides.

The actual funding comes from third-party lenders, while Lendio facilitates the connection and application process.

Its revenue model is typically based on referral or partnership fees, meaning it earns compensation when a loan is funded through its platform. This allows Lendio to focus on matching and comparison, rather than issuing loans directly.

Once funding is secured, businesses often use additional tools to manage how that money is used. Platforms like BILL can help businesses handle payments, track expenses, and organize financial workflows after receiving financing.

Why Lendio Matters in Utah

Lendio is headquartered in Lehi, Utah, making it part of the state’s growing fintech and small business ecosystem.

Utah has a strong network of lenders and support organizations that provide financing to local businesses. These include institutions such as Canyon View Credit Union, Utah Community Credit Union, CCBank, Utah First Credit Union, Mountain West Small Business Finance and Utah Microloan Fund.

Within this environment, Lendio plays a different role. Instead of being a lender, it acts as a platform that helps businesses compare and connect with potential financing options. This makes it a useful layer on top of Utah’s existing financial ecosystem, helping improve access and visibility across multiple lenders.

Limitations

Lendio is not a lender, which means it does not control the loan terms, interest rates, or approval decisions. These are determined by the lenders in its network, so the experience can vary depending on the specific provider and the business profile.

Because it operates as a marketplace, not all available lenders or financing options are included on the platform. Businesses may still need to explore direct relationships with banks or credit unions if they are looking for specific products or terms.

Lendio is also focused on business financing, so it does not serve personal banking or consumer lending needs.

Conclusion

Lendio is a small business loan marketplace platform that focuses on helping businesses find and compare financing options in one place. Instead of issuing loans directly, it acts as a middle layer between borrowers and lenders, simplifying the process of accessing capital.

Its model reflects a broader shift in financial services toward platform-based access, where technology helps users compare options more efficiently. With its Utah headquarters and national reach, Lendio represents a clear example of how fintech companies are changing how small businesses connect with funding.

Disclaimer:
This page is not affiliated with, maintained by, or sponsored by Lendio. The information provided in this overview may be outdated or inaccurate after the publication date. UtahFi does not assume responsibility for the accuracy of the content. The logo is a registered trademark of Lendio, Inc.