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- 2021 Franchise 500 Rank
#392 Ranked #272 last year
- Initial investment
$63K - $117K
- Units as of 2021
94 123.8% over 3 years
More from Lendio
"Lendio: The Revolutionary Franchise for Small Business Lending"
Lendio makes business loans easy. All it takes is 15 minutes to fill out our small business loan application. It’s online, easy to use, and provides access to real offers from a marketplace of lenders. That means no more shopping around at banks or mountains of tedious paperwork.
As a Lendio franchisee, you’ll help business owners find the loans they need to grow their business—combining our high-tech assets with your personal, high-touch expertise. By leveraging Lendio’s business loan marketplace, you’ll help local clients complete a single application to be reviewed by over 75+ premium lenders, which takes the headache out of the entire process.
Join the Lendio Family
What You Need:
- Desire to build a local business
- Commitment to helping local small business access capital
- A strong connection to your local business community—including members of your Chamber of Commerce and the like
- Experience in business development, sales, and relationship management
- A portfolio of local business clients
- $55–$65K in liquid capital
What You Get:
- Technology: Access to the Lendio marketplace and our industry-leading, proprietary CRM tool
- Lender Relationships: Partnerships with premium lenders like American Express, PayPal, Chase, Bank of America, and more
- Marketing and Brand Value: Brand equity, awareness, and essential assets like professional microsites, press releases, search engine optimization, communication templates, and more
- Training and Continued Support: In-person 5-day training courses, partnership development, sales coaching, loan processor support, weekly training and calls, as well as additional support with marketing, operations, and other key facets of your franchise.
- Franchising Since
- 2016 (5 years)
- # of employees at HQ
- Where seeking
This company is seeking new franchisees throughout the US.
- # 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
Definition: The initial fee paid to a franchisor to join their system
What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.
- Initial Investment
- $63,150 - $117,100
Definition: The total amount necessary to begin operation of the franchise
What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.
- Cash Requirement
- $55,000 - $65,000
Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.
- Veteran Incentives
- 10% off franchise fee
Definition: A discount or other incentive offered to military veterans who buy a franchise with this company.
- Ad Royalty Fee
Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts.
What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.
- Term of Agreement
- 5 years
Definition: The length of time your franchise agreement will last.
What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.
- Is franchise term renewable?
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
- Additional Training
- Ongoing Support
NewsletterMeetings & ConventionsGrand OpeningOnline SupportSecurity & Safety ProceduresField OperationsProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Additional details about running this franchise.
- Is absentee ownership allowed?
Definition: Absentee ownership means that the franchisee does not actively work in the franchise business or manage day-to-day operations.
- Can this franchise be run from home/mobile unit?
Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.
- Can this franchise be run part time?
Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.
- Are exclusive territories available?
Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened.
What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.
Franchise 500 Ranking History
Compare where Lendio landed on this year’s Franchise 500 Ranking versus previous years.
Curious to know where Lendio ranked on other franchise lists? Find out below.
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