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Franchise 500 Rank
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Initial investment
$63K - $117K
Units as of 2021
94 Increase 123.8% over 3 years

For one reason or another, small businesses often need funding. However, it can be a challenge to source funds from banks or other financial institutions. Lendio was formed to fill this gap by saving small businesses, one loan at a time. 

By using Lendio, business owners usually have access to dozens of lenders and assistance in picking the best one for their company. 

Lendio was founded in 2011 by Brock Blake and Trent Miskin and began franchising in 2016. Since then, it has grown to over 60 franchises located throughout the United States.

Why You May Want to Start a Lendio Franchise

Providing support and loans to small firms is a necessity for other businesses. As a Lendio franchisee, you could play your part in fueling the American dream. Lendio has made a big impact, helping small businesses gain more than $10 billion in funding from lenders worldwide. It has facilitated more than 300,000 loans. Lendio is about helping small business enterprises achieve loans, and they are built on speed, trust, and finding the best loan options.

If you want to reach big goals with your business, opening a Lendio franchise may be the right decision for you. They would offer you the chance to join one of America’s largest small business loan businesses. 

You might also help small business owners get a Paycheck Protection Program (PPP loan) application through Lendio. PPP loans generally require no collateral and the small business loan status and requirements don't apply to them. Many franchisees find this helpful, as Lendio is not a lender but a loan marketplace, matching loan applicants with lenders. Since interactions happen online, they don't usually require a physical storefront.

Lendio is a trusted and award-winning company. A large number of small business owners are not able to get funds from banks, so Lendio franchisees play an important role in helping loan small businessowners.

What Might Make Lendio Franchise a Good Choice?

To be a part of the Lendio team, you should be financially ready for an initial investment made up of a franchise fee and other startup costs. You’ll want to make sure you have enough capital available to cover ongoing fees, as well. These ongoing fees will include advertising fees, royalty fees, and potential renewal fees. It may be a good idea to reach out to a financial advisor or attorney to ensure that you have the necessary financial stability to open and operate a Lendio franchise. 

In addition to the capital requirement, you'll want to have a passion for building a business, sales, networking, and business management skills. 

You should also understand the Lendio mission and the Franchise Disclosure Document. 

How Do You Open a Lendio Franchise?

Lendio offers an opportunity to operate a well-known franchise that's revolutionizing small business lending. However, you should check for availability in the U.S. location you're interested in, as there may be some territories that are unavailable. 

To start off, review the qualifications and submit your application. During the process, you'll usually be able to attend the Lendio franchise webinar. This should give you the chance to take a deep dive to learn more about the model, the application process, and how you could own this business lending franchise. 

The Lendio team generally shares key information and the steps to take. Typically, they hold an evaluation of the opportunity with the franchise recruitment director. Franchisees usually undergo a final review and approval, as well. Finally, after a bit of training, you can launch your Lendio franchise.

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Company Overview

About Lendio

Industry Financial Services
Related Categories Business Financial Services
Founded 2011
Parent Company Lendio Inc.
Leadership Brock Blake, CEO
Corporate Address 4100 Chapel Ridge Rd., #500
Lehi, UT 84043
Social Facebook, Twitter, LinkedIn, Instagram, YouTube

Business Overview

Franchising Since 2016 (8 years)
# of employees at HQ 550
Where seeking

This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming

# of Units 94 (as of 2021)

Information for Franchisees

Here's what you need to know if you're interested in opening a Lendio franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Information Circle
$46,000
Initial Investment Information Circle
$63,150 - $117,100
Cash Requirement Information Circle
$55,000 - $65,000
Veteran Incentives Information Circle
10% off franchise fee
Ad Royalty Fee Information Circle
2%
Term of Agreement Information Circle
5 years
Is franchise term renewable? Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing Lendio has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

Classroom Training 40 hours
Ongoing Support
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Field Operations
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Ad Templates
Regional Advertising
Social Media
SEO
Website Development
Email Marketing

Operations

Additional details about running this franchise.

Is absentee ownership allowed? No
Can this franchise be run from home/mobile unit? Information Circle
Yes
Can this franchise be run part time? Information Circle
No
Are exclusive territories available? Information Circle
No
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Franchise 500 Ranking History

Compare where Lendio landed on this year's Franchise 500 Ranking versus previous years.

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise or business opportunity by Entrepreneur Media. Our listings and rankings are solely research tools you can use to compare opportunities. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise or business opportunity. That should include reviewing the company's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees/licensees/dealers.
Updated: December 12th, 2022