Complaints

This profile includes complaints for Lendio, Inc.'s headquarters and its corporate-owned locations. To view all corporate locations, see Find Local Branches.

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  Lendio, Inc.

  4100 N Chapel Ridge Rd Ste 500 Lehi, UT 84043-4422

  
• 

  Lendio, Inc.

  100 Sunnyside Blvd Ste 200 Woodbury, NY 11797-2925

• 

  Lendio, Inc.

  4100 N Chapel Ridge Rd Ste 500 Lehi, UT 84043-4422

  
• 

  Lendio, Inc.

  1600 University Ave W Ste 401 Saint Paul, MN 55104-3800

• 

  Lendio, Inc.

  1525 S. Sabino Drive Gilbert, AZ 85296-9609

The complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.

• Initial Complaint

  Date:04/18/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I previously requested funding options from Lendio, who advertised their services as an independent broker, linking clients to the best possible ************* possible. Since providing basic information to the company (and being assured that my data would be kept safe), I have been contacted by thousands of lending companies, many of which seem to be scams. I was assured that I would only be contacted directly by Lendio employees, but I receive non-stop calls, e-mails, text messages, mail, etc. from solicitors, none of which are directly affiliated with Lendio. I have patiently waited to file this complaint, hoping that these harassing attempts at contact would slow down and fizzle away over time; however, the solicitations continue to come in at a fever pace.

  

  Business Response

  Date: 04/21/2025

  Hi, ****,
  Were so sorry to hear that youve been receiving unwanted callsthats understandably frustrating, and we truly empathize with your situation.
  Please rest assured that Lendio does not sell your contact information or add it to any marketing lists. Your privacy is incredibly important to us, and were fully committed to providing a respectful and secure customer experience.
  Unfortunately, there are third parties in the industry who gather and resell business information based on indicators of interest in capital. Some brokers then purchase this data and make unsolicited outreach to businesses like yours. We want to be clear that Lendio is not involved in or supportive of these practices.
  While were unable to determine which specific company may have obtained your information, we recommend asking any unwanted callers to remove your details from their contact lists and add you to their internal Do Not Call registry. This can often help reduce the volume of unsolicited calls over time.
  If theres anything else we can do or if you have further questions, please dont hesitate to reach out

• Initial Complaint

  Date:02/27/2025

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I reached out to the company in regards to getting our first capitol loan. I was told I was the kind of small business they can help. Recieved an offer that I accepted. Signed all the paperwork. 4 days later finally hear back only to be told I was not getting the loan. I called and left several voicemails inquiring with no reply. They should never have anyone fill out and sign paperwork if they do not intend to follow through. I will not recomend this company to anyone.

  

  Business Response

  Date: 03/04/2025

  *****,
  Thank you for sharing your feedback. We're sorry to hear that your experience didn’t meet expectations. Please understand that Lendio is not a lender; we are a marketplace connecting small businesses with financing options. The terms and funding amount are determined by our financing partners, who assess the qualifications of the business. While we strive to provide the best options available, these decisions are ultimately out of our control. As your funding expert explained, the financing partner we connected you with made the decision to decline the application after their final review, due to the low revenue reflected in the February statements.
  We understand how important funding is for your business and recognize the disappointment you must have felt when your offer was retracted. Please know that we are always here to assist you. Our Customer Support team is available Monday through Friday, from 7:30 a.m. to 5:00 p.m. MT. You can reach us by phone at (855) 853-6548, by email at [email protected], or through the online chat feature in your portal.
  We’re here to support you and truly value your experience with us. Thank you again for sharing your feedback, and we sincerely wish you continued success in your business endeavors. 

• Initial Complaint

  Date:02/17/2025

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  We applied for a business loan from Lendio on/about Jan 20, 2025, created an online account, and uploaded bank statements as requested in the online application portal. To this day Feb 17, 2025, we have not gotten any response nor acknowledgement of our application and documents.

  

  Business Response

  Date: 02/18/2025

  Hi *******,

  Thank you for reaching out. The email address you provided is linked to an account that has been inactive for over a year. However, we were able to locate a more recent account under your business name, and it appears that you uploaded documents and submitted your application on January 29th.

  Once you completed your application, you were notified via our portal that we were unable to match you with a business loan offer, but that you could be eligible for personal loans from some of our financing partners. We provided you with several options, and you clicked through to view the Line of Credit offer from American Express.

  Please know that you’re always welcome to reach out if you have any questions or need assistance. We offer several ways to contact us: you can reach us by phone at ###-###-####, by email at [email protected], or through the online chat within your portal and application.

  We sincerely apologize for any confusion that led you to expect further communication from us. We truly appreciate your feedback as it helps us improve the experience for all our customers.

  We wish you the very best of luck with your business endeavors and are here if you need anything moving forward.

• Initial Complaint

  Date:01/25/2025

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I submitted an inquiry for a commercial term loan with a company called Lendio in June of 2024. Aaron M******** a "Senior Account Executive" at Lendio, began communicating with me and requested information about my business. Mr. M******* located a lender named LiftFund who he said was willing to offer a loan. However, he grossly misrepresented the loan APR, and did not disclose a predatory 5% origination fee. He also, in writing, stated that the application did not require a hard inquiry on my credit report. Based on this information, I agreed to proceed with the loan application. On or around 6/11/24, LiftFund made a hard inquiry on my TransUnion credit report. They proceeded to send me a loan agreement for terms which were different than those represented by Mr. M*******. I declined the loan due to the predatory origination fee and prohibitive interest rate. However, I am left with damage to my credit score. I have contacted LiftFund multiple times requesting removal. I have also attempted to dispute the hard inquiry, but they state that this requires the cooperation of LiftFund. I have also spoken with multiple parties at Lendio, advising them of Mr. M*******'s deceitful statements. The company has offered no assistance in getting LiftFund to remove my score. I have requested multiple times, both in writing and by phone, for Lendio to preserve call recordings, emails, and any other documentation showing that their representative Mr. M******* blatantly lied to me about the loan terms, the origination fee, and the hard pull. They have refused to provide any assistance or even acknowledge my request for preservation of records.

  

  Business Response

  Date: 01/28/2025

  Thanks for taking the time to share your thoughts. We’re sorry to hear about your experience and appreciate the chance to clear up a few things.
  The rates our team shares during initial conversations are just estimates based on their experience, and we can’t provide specific fees until the lender makes an official offer. Once an offer comes in, the lender will share the exact terms, including any fees, which can sometimes differ from the estimates. As Aaron, your Account Executive, mentioned during your call and in his email, he planned to go over all the details of the contract with you once the lender finalized the offer. At the time, he simply couldn’t disclose information he didn’t have access to yet.
  As for the credit pull, Lendio only performs a soft credit check during the application process. However, once you choose an offer and decide to move forward, the lender may do a hard pull to finalize their offer. We apologize if that wasn’t clear earlier, and we’ll make sure to highlight this more clearly moving forward.
  We’re continuing to work with Lift to attempt to get the hard credit pull removed, but the quickest way to resolve this is to contact the lender directly. They’ll be able to assist you with that request.
  Our Privacy Team specializes in handling account deletion requests to ensure your data is managed securely. To proceed, we kindly ask that you submit your request directly to them at ******************.
  We truly appreciate your feedback and will use it to improve the process. If you have any other questions or need further help, feel free to reach out.

  Customer Answer

  Date: 01/28/2025

  
  Complaint: 22856698
  
  I am rejecting this response because:
  

  On 7/12/24, I emailed Mr. M*******: "It looks like there was a hard pull of my TransUnion credit report today by a company called LiftFund. I assume this is in connection with the term loan, but I'm confirming because I thought there would only be soft inquiries."
  
  He replied that same day: "Hello Nathan, That is our term lender! Sorry it is soft when we inquire and meet with them, but with all term loans, when we send financials and get agreements to finish the underwriting they do one inquiry."
  
  As you can see, Mr. M******* only disclosed the necessity of a hard pull after he had already processed my application.
  

  With regard to the origination fee, on 7/15/24, Mr. M******* stated in an email: "They (Liftfund) must have been a little been more deceptive and maybe added it onto the financial charge. There is always some type of upfront fee. Whether it's called origination fee, finance charges, or closing costs."

  You say that Mr. M******* could not have known about the origination fee, but it seems that he expects that there is "always some type of upfront fee."
  

  At no point in our written our verbal communication did Mr. M******* ever advise me about his expectation of such a fee, as he knew that it would stop me from proceeding with the application.
  
  Yet the failure here is not only Mr. M*******'s. I requested preservation of emails and call recordings on July 16 and 17. Accordingly, on July 18, Mr. M******* stated "I have informed my manager about this and they will be reaching out soon."
  
  I never heard from anyone.

  With regard to Liftfund, you should advise them of the truth of the matter: that your sales agent used deceit and willful omission to get me to proceed with the application. And specifically, that he never informed me that a hard inquiry would be made on my credit report.

  
  Sincerely,
  
  Nathan Johnson

• Initial Complaint

  Date:05/10/2024

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Constantly called and won't remove from call list and ran social and did a hard pull instaed of soft

  

  Business Response

  Date: 05/16/2024

  Hello ******,
  Thank you for your feedback. We are so sorry to hear of your experience. This is not what we want for our customers. We have added you to our Do Not Contact list so that you will not receive any further correspondence from us. Again, we apologize for your negative experience and wish you and your business all the best.

• Initial Complaint

  Date:05/02/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Do NOT, and I repeat, do NOT put your trust in Lendio. They say they have found a lender, you give them all your information, they NEED access to your bank accounts (for verification, they say), and then when you've signed all your documents......... crickets I've called for two weeks trying to get a hold of ***********************, left voice messages, text messages, emails, but once again, crickets.I've called the main office (same building mind you) but they couldn't tell me if he was actually there or not "because he is in in different department". My advise: get out lazy **** out of the chair and walk over and pull on ****'s shirt that he NEEDS to call his customer!Once again, my advice, DO NOT WORK WITH LENDIO!!!!

  

  Business Response

  Date: 05/02/2024

  Hi ***** - we're so sorry to read this it is not the experience we want for our customers! A member of our team has reached out to help resolve this with you, and we've made sure to share your feedback with our team as well.

• Initial Complaint

  Date:03/29/2024

  Type:Product Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I was referred to lendio by another website. I apply for a loan and was told that they would check with their lenders. Within minutes I was texted by a rep asking if I had time to finish my application (thought I did already). I explained that I didn’t have time at that very moment. I messaged him the next day and got no response. I messaged him a few days later and still no response. At this point I was ghosted by the rep. I also received an email from another rep that asked to respond with a 1 or 2 depending if I wanted a loan or business credit. I asked what are the fees and they told me that it depends on many factors and we need to do an application. So I asked for a loan application. I didn’t hear back from this individual. The next day the same person email me with another email explaining what products they offered. Once again in replied that I wanted a loan. They don’t respond. Today they sent another spam email. What is the point of email customers if your reps are not willing to help with the applications? You’re just wasting everyone’s time, energy and money.

  

  Business Response

  Date: 04/01/2024

  Hi, ****,
  We are so sorry to hear this. This is certainly not the experience we want our customers to have. We do see that you reached out to us on the 27th to let us know that you were going with another company, and that moved your file to “inactive.” We’ve let your representative know you’re interested in moving forward again. They should be reaching out to you shortly.

  Thank you,

  The Lendio Team

• Initial Complaint

  Date:03/21/2024

  Type:Order Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Lendio has failed to contact me or answer my calls regarding loan application. They haven’t answered my emails either after sending bank statements?

  

  Business Response

  Date: 03/25/2024

  Hi, ******,
  We looked into your file and unfortunately, after reviewing your account, it appears you have violated Lendio's Terms of Use. Lendio has therefore suspended all access to the account. This outcome is final and irreversible. Please be advised that you will no longer be able to conduct any transactions using Lendio's portal. You may reach out to ****************** with any additional questions you may have.

  Thank you,

  The Lendio Team

  Customer Answer

  Date: 03/27/2024

  
  Complaint: ********
  
  I am rejecting this response because:
  
  The business has been contacted using the email provided in the business’s response. There hasn’t been any response for sometime. The business did not say I violated any terms of conditions. The excuse that I violated any policy is inaccurate, untrue, and false. 
  
  Sincerely,
  
  ****** ********

  

  Business Response

  Date: 03/29/2024

  Hi, ******,

  According to our records, you did email our Privacy Team (****************** ) in June of 2023 and did receive a response from our team. At that time, you were notified of the violation of our Terms and that you would not be able to conduct any transactions with Lendio moving forward. We have no record of any recent emails sent by you to this address. As mentioned previously, this outcome is final and irreversible. You may read more about our terms of use on our website: ***********************************************

  Thank you,

  
  The Lendio Team

• Initial Complaint

  Date:01/07/2024

  Type:Billing Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  Dispute

  

  Business Response

  Date: 01/16/2024

  We are so sorry to hear this. This is certainly not the experience we want our customers to have. A member of our team was able to get in touch with you on Friday, January 12th but you requested that we call you back at a later date and time. We attempted to contact you today on Tuesday, January 16th via phone, email and text to resolve the matter but wasn't able to get a hold of you. We will continue to reach out to help resolve this issue.

• Initial Complaint

  Date:10/30/2023

  Type:Service or Repair Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  I applied for a loan over the summer with Lendio. They seemed like an ok place and would help me secure financing for a small business I just started. Upon using them they set me up with lenders that had extremely predatory rates (35% to 65% APR). This did not fit my need so I closed my Lendio account. I received a notice back stating they could not completely close my account due to an application being filed which has some legal reasons they are not able to accurately articulate to me. While I understand that they need to keep the application info on file, I asked they do not use my information to provide to other partners or even share my information to other partners even if it isn't to be contacted. I have asked repeatedly for this to stop via email so I can get it in writing and Lendio is not complying, they simply just refer me back to their privacy policy which is long and complex. Here is what I am looking for: *Written confirmation from Lendio they will no longer be sharing my information with their partners, they are only retaining my information for legal purposes and will not have any commercial use within their organization. *Written confirmation from Lendio I will not be contacted by them or their partners in the future. *Written confirmation from Lendio of the exact date my information will no longer be in their system.

  

  Business Response

  Date: 11/07/2023

  Thank you for reaching out. Please see below for more information regarding your request:
  

  - Lendio only shares your information with lending partners to provide business financing offers to you. Since you have requested we no longer seek business financing offers for you, we will not share your information with our financing partners.
  - Lendio has retained your information as set forth in our privacy policy, which will be in conformance with our legal and contractual obligations. We will continue to retain your information in conformance with the law.
  - Lendio will not be contacting you in the future, unless you create a new Lendio account, or notify us that you’d like us to contact you.
  - Lendio will continue to retain your data as set forth in our privacy policy, including for those periods of time that we are required to do so with applicable law and for a reasonable period of time as determined by Lendio.

  Thank you.

  The Lendio Team